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Jaryd Ruffner

jaryd.ruffner@exprealty.com +1(253) 686-6356

Listed by:Westlake Associates, Inc. • Reid Jones

$ 2,750,000

Est. payment -/mo

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3261 Fuhrman AVE E Seattle, WA 98102

11 Beds

11 Baths

6,765 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 6,765 sqft

Price per Sqft $406

Subdivision Portage Bay

MLS Listing ID 2568199

Style 55 - 5-9 Units

Bedrooms 11

Year Built 1952

Annual Tax Amount $29,608

Lot Size 9,220 Sqft

Property Sub-Type Multi Family

Property Description

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.

Location

State WA

County King

Area 390 - Central Seattle

Interior

Flooring Laminate, Vinyl Plank

Fireplace false

Exterior

Exterior Feature Brick, Wood

Amenities Available Patio

View Y/N Yes

View Bay, Partial, Territorial

Roof Type Flat

Building

Lot Description Alley, Curbs, Paved, Sidewalk

Sewer Sewer Connected

New Construction No

Schools

School District Seattle

Others

Senior Community No

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

"Three Trees" icon indicates a listing provided courtesy of NWMLS.

Nearby Locations

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(253) 686-6356

jaryd.ruffner@exprealty.com

eXp Realty 1201 Pacific Avenue 6th Floor, Tacoma, WA 98402, USA

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