Portage Bay Homes with 55 - 5-9 Units Style

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

Portage Bay is characterized by its eclectic mix of architectural styles, with a particular emphasis on homes that feature 5-9 units. These thoughtfully designed residences are perfect for those seeking a sense of community without sacrificing privacy. Many of these homes showcase stunning views of the bay, allowing residents to wake up to breathtaking sunrises and unwind with picturesque sunsets.

The neighborhood is an ideal spot for families, young professionals, and retirees alike. With its close proximity to downtown Seattle, residents enjoy easy access to a plethora of dining, shopping, and entertainment options. Local favorites include cozy cafes, trendy restaurants, and vibrant markets that highlight the area’s rich culinary scene.

Portage Bay is also home to several parks and green spaces, perfect for picnics, playdates, or simply soaking in the natural beauty that surrounds you. The community is known for its friendly atmosphere, where neighbors come together for events and gatherings, fostering a true sense of belonging.

If you’re looking for a place that combines the charm of waterfront living with the conveniences of city life, Portage Bay is the perfect neighborhood to call home. Discover the beauty and community spirit that awaits you in this enchanting Seattle enclave!

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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