Eastlake Homes with 55 - 5-9 Units Style

Welcome to Eastlake, one of Seattle’s most charming and vibrant neighborhoods, nestled along the picturesque shores of Lake Union. Known for its stunning waterfront views and a delightful mix of residential and commercial spaces, Eastlake offers a unique blend of urban living and natural beauty. This community is perfect for those who appreciate a lively atmosphere while still enjoying a sense of tranquility.

Eastlake is characterized by its diverse architectural styles, with homes ranging from classic craftsman bungalows to modern condos. Among these, you’ll find a selection of homes with 5-59 units, providing a cozy yet connected living experience. These multi-family residences are perfect for those seeking a sense of community, as they often feature shared amenities and communal spaces that foster social interaction. Whether you’re a young professional, a growing family, or looking to downsize, Eastlake’s varied housing options cater to all lifestyles.

As you stroll through the neighborhood, you’ll discover an array of local boutiques, cafes, and restaurants, each brimming with character and charm. Take a leisurely walk along the waterfront, enjoy a meal at one of the many eateries, or engage in outdoor activities at nearby parks. With easy access to public transportation and major thoroughfares, commuting to downtown Seattle or exploring the surrounding areas is a breeze.

In Eastlake, you’ll find not just a home, but a vibrant lifestyle that embraces the best of Seattle living. Come and experience the warmth of this community, where every day feels like a new adventure!

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.

Start Your Search

Based on information submitted to the MLS GRID as of . 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.
IDX information is provided exclusively for consumers’ personal noncommercial use, and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.