Portage Bay Homes with 55 - 5-9 Units Style

Welcome to Portage Bay, a picturesque neighborhood nestled in the heart of Seattle, Washington. Known for its stunning waterfront views and vibrant community spirit, Portage Bay offers a unique blend of urban convenience and natural beauty. This charming enclave is bordered by the serene waters of Portage Bay itself, providing residents with ample opportunities for kayaking, paddleboarding, and enjoying leisurely strolls along the scenic waterfront.

The architectural landscape of Portage Bay is a delightful mix of historic homes and modern developments, with a notable presence of properties featuring 5-9 units. These homes are perfect for those seeking a sense of community while enjoying the benefits of urban living. With a variety of layouts and designs, these multi-family residences often boast spacious interiors, shared outdoor spaces, and the chance to connect with neighbors, making them ideal for families, young professionals, and retirees alike.

The neighborhood is also home to a plethora of local amenities, including charming cafes, boutique shops, and parks, ensuring that residents have everything they need at their fingertips. The nearby University of Washington adds to the vibrant atmosphere, bringing a youthful energy and a variety of cultural events to the area.

Portage Bay is not just a place to live; it’s a lifestyle. With its stunning views, community spirit, and convenient access to Seattle's bustling downtown, this neighborhood is a hidden gem waiting to be discovered. Whether you're looking to buy or rent, Portage Bay is sure to captivate your heart and inspire your next chapter. Come explore the enchanting allure of Portage Bay today!

Newest Portage Bay Homes with 55 - 5-9 Units Style

$2,750,000

2568199 MLS ⋅ ACTIVE Status

The Portage Bay Plaza located at 3261 Fuhrman Ave E, presents a rare opportunity to invest in the extremely well-located north end of Portage Bay between the Eastlake and Montlake neighborhoods. The property offers large floor plans with a mix of seven 1-bedroom / 1-bath units and two 2-bedroom / 1.5-bath units, plus ample off-street parking. Wood-frame construction with a well-maintained brick exterior gives the building genuine mid-century character, while private decks with views of the Bay set it apart from typical residences in the neighbor-hood. Sitting on a large 9,220 SF parcel zoned LR3 (M), the property also carries long-term redevelopment optionality for townhomes or a larger apartment project. Current ownership has well maintained the property with meaningful recent capital improvements, while a new owner has an attractive opportunity to increase income by bringing on professional management and completing interior renovations. The majority of units feature hardwood or LVP flooring, with recent upgrades including updated cabinetry, quartz countertops, stainless-steel appliances, and mod-ern lighting. This leaves a clear and straightforward path to increasing value: finish the renovation program in the units that have not yet been updated, push parking income toward market, and add in-unit laundry to more units, which ownership has already proven out by converting one unit during their hold.

3261 Fuhrman Avenue E, Seattle

Listing courtesy of Westlake Associates, Inc..

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