$2,750,000
 $14,763 est/mo Sourced by Back At You

3261 Fuhrman Avenue,Seattle, WA 98102

Seattle, WA 98102

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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.

Details

MLS #2568199
Listing TypeFor Sale
Sub-TypeResale
StatusActive
Year1952
Days On Site45
Listing Provided ByWestlake Associates, Inc. | Reid Jones

Features

SQ Feet6,765
Story(s)2
Units9
ZoningMulti-Family
Acreage0.21
Property ViewYes

Taxes

Property29608

Area Information

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NamePortage Bay
Listing VS Median (in Portage Bay)
Price:
$2,750,000
low | high
Med:
$1,425,000
98.181818181818% of Average
sqft:
6,765
low | high
Med:
815
100% of Average
$ / sqft:
$407
low | high
Med:
$1,748
100% of Average
On site:
45
low | high
Med:
65
69.230769230769% of Average
Sourced by Back At You

Market Activity 98102

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Learn More About This Property

StateWA
CountyKing
CitySeattle
Zip Code98102
Area390 Central Seattle
Community NamePortage Bay
Listing VS Median (in Portage Bay)
Price:
$2,750,000
low | high
Med:
$1,425,000
98.181818181818% of Average
sqft:
6,765
low | high
Med:
815
100% of Average
$ / sqft:
$407
low | high
Med:
$1,748
100% of Average
On site:
45
low | high
Med:
65
69.230769230769% of Average
Sourced by Back At You
Listing Updated: September 22, 2026 at 5:47:40 PM PDT