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About the Listing 7019 - 123916
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.
Listing Highlights
Status
Active
Days on Site
18
Property Type
Multi-Family
MLS ®
2568199
Year Built
1952
Total Square Footage
6,765
Lot/Acreage
0.21
Interior Details
- Bedrooms: 11
- Bathrooms: 11 Full
- Appliances:
- Air Cond:
- Heating: Baseboard
- Fireplaces: 0
- Floor: Laminate,Vinyl Plank
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other:
- Water:
Exterior Details
- Lot Description: Alley,Curbs,Paved,Sidewalk,Patio,Zoning: Multi-Family
- Garage Capacity: N/A
- Parking Spaces: 8
- Zoning: Multi-Family
- Roof: Flat
- Others: Brick,Wood
- Sewer: Sewer Connected
Financial Details
- Tax Amount: $29,608
- Taxes w/Assessments: N/A
- Tax/Property ID: 1959703190
- Tax Year: 2026
Payment Calculator
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Questions About..
3261 Fuhrman Ave E Seattle, WA 98102
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