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 living and natural beauty. This charming area is bordered by the serene waters of Portage Bay itself, providing residents with a tranquil escape right at their doorstep.

One of the standout features of Portage Bay is its diverse housing options, particularly the charming homes in the 55-59 unit style. These residences are perfect for those seeking a sense of community without sacrificing the conveniences of city life. With a variety of architectural designs, these homes reflect the character of Seattle while offering modern amenities to suit contemporary lifestyles.

The neighborhood is a haven for outdoor enthusiasts, with easy access to parks, walking trails, and the scenic shores of the bay. Imagine waking up to the gentle sounds of water lapping against the shore and enjoying leisurely strolls along the waterfront. Portage Bay is not just a place to live; it’s a lifestyle.

In addition to its natural beauty, Portage Bay boasts a vibrant local scene. Residents can explore an array of trendy cafes, boutique shops, and cultural attractions just a stone's throw away. With its close-knit community feel and proximity to downtown Seattle, Portage Bay is a perfect choice for families, young professionals, and retirees alike. Experience the charm of Portage Bay and discover your dream home in this enchanting neighborhood 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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