$2,750,000
Est. $15,232/mo6,765 sq ft
3261 Fuhrman Avenue E, Seattle, WA 98102
• Listed Aug 12, 2026•29 days active · 29 cumulative
Listing Broker: Westlake Associates, Inc.; Reid Jones; 206-505-9401; reid@westlakeassociates.com
Talk to a local RexMont expert
A local broker replies within minutes
Work with a Seattle real estate agent or a Seattle buyer's agent on this home. Selling first? Start with sell my house in Seattle or your Seattle home value.
Listing Broker: Westlake Associates, Inc.; Reid Jones; 206-505-9401; reid@westlakeassociates.com
About this home
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.
Listed by Reid Jones • Westlake Associates, Inc.
Listing updated: September 22, 2026 at 06:39pm
RexMont checked: moments ago
Source: NWMLS as Distributed by MLS Grid #2568199
Around this home
How much should you offer?
3261 Fuhrman Avenue E, Seattle, WA 98102
Source:RexMont analysis of Northwest MLS sales data for this ZIP code plus third-party market data (RentCast). The estimates are RexMont's, not Northwest MLS listing data.
Estimates only and not guaranteed. Consult a RexMont agent for accurate, personalized guidance before making an offer. RexMont OfferEdge™ · © 2026 RexMont Real Estate. Proprietary tool.
Property details
Layout
- 5-9 Units
Flooring
- Laminate
- Vinyl Plank
Heating & cooling
- Baseboard heating
- None cooling
Schools
Ratings via SchoolDigger- John Stanford International SchoolPublic · Grades K-5 · 0.5 mi · State rank 27 of 1,13810/10
- Hamilton International Middle SchoolPublic · Grades 6-8 · 0.9 mi · State rank 12 of 51410/10
- Lincoln High SchoolPublic · Grades 9-12 · 1.1 mi · State rank 3 of 39610/10
Schools shown are the nearest public Elementary, Middle, and High school for this property and may not be the assigned schools. Verify attendance boundaries with the district before purchasing.
Multi-family facts
As entered by the listing broker on Northwest MLS
Units
- Total units
- 9
- Units in building
- 9
- Units below grade
- false
- Building square feet
- 6,765 sq ft
Income & expenses
- Gross scheduled income
- $215,111
- Total monthly income
- $17,926
- Additional monthly income
- $3,026
- Gross adjusted income
- $206,171
- Net operating income
- $114,857
- Cap rate
- 4.18%
- Gross rent multiplier
- 12.78
- Vacancy rate
- 5%
- Total expenses
- $91,314
- Insurance
- $9,026
- Other expenses
- $34,725
- Water / sewer / garbage paid by
- 17955
Parking & storage
- Parking spaces
- 8
- Uncovered parking
- 8
Taxes & assessment
- Annual taxes
- $29,608
- Tax year
- 2026
- Financing
- Cash, Conventional
Neighborhood mobility
Doorstep, Pedal & Station Scores
Three RexMont scores for this exact address: what is on foot, what is by bike, and what rides past the door.
Ground Truth™
The ground, the slope, the flood zone and the noise at this address
Read from public hazard, flood, terrain and noise maps for this exact home.
Address Insider™
The members' report
Commute, transit, zoning and ADU potential, internet providers and the lifestyle around the home: the nearest grocery, coffee, park, services and transit stop. One free registration opens every home on rexmont.com.
Opens with the report above.
Sales & Tax Records for 3261 Fuhrman Avenue E
NWMLS via MLS Grid · King County AssessorEvery listing, pending, price change and closing filed on this home with the NWMLS, the county’s recorded sales, and its assessed values by tax year.
- Aug 12, 2026ListedNWMLS via MLS Grid · #2568199$2,750,000$407/sq ft
- Jun 2, 2017Recorded saleKing County recorder · Statutory warranty deed$2,947,000$436/sq ft
- Feb 25, 2005Recorded saleKing County recorder · Statutory warranty deed$1,520,000$225/sq ft
- Oct 9, 2003Recorded saleKing County recorder · Statutory warranty deed$1,138,200$168/sq ft
- Mar 7, 1996Recorded saleKing County recorder · Statutory warranty deed$570,000$84/sq ft
Mortgage payment forecast
$18,387 per month
Great rateTakes about 5 minutes & won't affect your credit
Get pre-approvedSource: RexMont estimate, not Northwest MLS listing data. Interest rates from Freddie Mac's Primary Mortgage Market Survey via FRED (Federal Reserve Bank of St. Louis). Property tax and HOA dues from the NWMLS listing where provided, otherwise estimated; insurance estimated at 0.3% of price per year.
Estimate only. Actual payment depends on credit, lender, and program. PMI not included for down payments below 20%.
Ask about this home
A licensed RexMont broker will get back to you, usually in under 5 minutes during business hours.
Listing Broker: Westlake Associates, Inc.; Reid Jones; 206-505-9401; reid@westlakeassociates.com
Market pulse
Seattle is a buyer's market.
Inventory is rising and homes are sitting longer. Buyers have room to negotiate.
Offer insight: Homes typically sell with one offer near asking price.
List to sale price: The average home sells for about 1% below list price.
Time on market: The average home goes pending in around 63 days.
Want a deeper read on this market?
Ask a RexMont agentMarket data from MLS GRID / NWMLS · Updated Oct 2026
Information and statistics derived from Northwest Multiple Listing Service. Source: Northwest Multiple Listing Service, as distributed by MLS GRID.
MLS GRID Disclaimer
Based on information submitted to the MLS GRID as of October 21, 2026 at 4:54 AM PT (date and time MLS GRID Data was obtained). All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
Listing information courtesy of Northwest Multiple Listing Service (NWMLS). The listing data relating to real estate for sale on this web site comes in part from the Northwest Multiple Listing Service. Real estate listings held by brokerage firms other than RexMont Real Estate are marked with the “Listing courtesy of NWMLS” designation. Information provided is for the consumer’s personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Some IDX listings have been excluded from this website.
© 2026 Northwest Multiple Listing Service. All rights reserved.
HO
Equal Housing Opportunity. RexMont Real Estate is pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the Nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap, familial status, or national origin.
