3261 Fuhrman Avenue E, Seattle, WA 98102

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.

Listing Status:

Active

Data Last Updated:

August 13, 2026 at 2:21AM

Listing Office:

Westlake Associates, Inc. : 206-505-9400

Listing Agent:

Reid Jones : 206-505-9400

MLS ID:

2568199

Interior

• Flooring: LaminateVinyl Plank
• A/C: None
• Heating: Baseboard
• Fireplace: Fireplaces: 0

Exterior

• General: BrickWood
• Parking: Parking spaces: 8

Construction

• Roofing: Flat
• General: 55 - 5-9 Units

Location

• HOA Amenities: 0.0
• Originating MLS: nwmls
• School District: Seattle
• County: King

Lot

• Zoning: 1959703190
• View: BayPartialTerritorialView

Utilities

• Sewer: Sewer Connected

Financial

• Source: nwmls