Eastlake Homes with 55 - 5-9 Units Style

Welcome to Eastlake, a charming neighborhood nestled along the shores of Lake Union in Seattle, Washington. Known for its picturesque views and vibrant community, Eastlake seamlessly blends urban convenience with a touch of tranquility. With its tree-lined streets and waterfront parks, this area is perfect for those who appreciate both the outdoors and city life.

Eastlake boasts a rich history, having once been a bustling industrial hub. Today, it is characterized by a mix of historic homes and modern developments, creating a unique architectural landscape. The neighborhood is particularly known for its collection of homes featuring 5-9 units, offering a variety of living options for families, young professionals, and investors alike. These multi-family dwellings provide an ideal balance of community and privacy, often featuring shared amenities that foster neighborly connections.

Residents of Eastlake enjoy easy access to an array of local cafes, restaurants, and shops, making it a delightful place to live and explore. The proximity to downtown Seattle means that work and entertainment are just a short commute away, while the serene waterfront parks invite leisure and relaxation. The neighborhood is also well-connected by public transportation, ensuring that getting around the city is a breeze.

Whether you’re looking to buy your first home, invest in multi-family properties, or simply enjoy the vibrant lifestyle that Eastlake offers, this neighborhood is a hidden gem in the heart of Seattle. Discover the charm of Eastlake and find your perfect home today!

Newest Eastlake Homes with 55 - 5-9 Units Style

$3,350,000

2529866 MLS ⋅ ACTIVE Status

We are pleased to present Franklin 8 in Seattle’s Eastlake neighborhood! Built in 1967, the 8-unit asset comprises ~7,458 SF and features 8 spacious 2BD, 1BTH units. Each features a private patio or balcony and the large 930 SF floorplans include dedicated dining spaces, large closets, and pantry storage. The top floors units feature Clerestory height ceilings and windows in the living space. 2 units have been fully remodeled and equipped with in-unit laundry, providing the template to realize additional upside in completing renovations on the remaining 6 units. Significant capital improvements have been completed in 2023, including a reseal roof, replaced cedar siding, updated fencing, and improved landscaping. The building also features double paned windows throughout. In addition to its steady in-place performance and renovation upside, the asset presents investors with a unique opportunity to further increase density through the redevelopment of the rear parking lot which should support a 4-story building addition programed either as townhomes or eight potential new apartments (Buyer to verify). Positioned in one of Seattle’s most supply constrained and high-demand rental submarkets, the property supports the execution of multiple strategies for significant value add and upside building on a base of consistent and durable cashflow.

2362 Franklin Avenue E, Seattle

Listing courtesy of Lee & Associates Commercial RE.

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