Eastlake Homes with 55 - 5-9 Units Style

Welcome to Eastlake, a vibrant neighborhood nestled along the serene shores of Lake Union in Seattle, Washington. Known for its stunning waterfront views and a unique blend of urban charm, Eastlake offers a perfect balance of tranquility and city life. This picturesque area is characterized by its tree-lined streets, historic homes, and a welcoming community atmosphere that makes it a sought-after destination for families, young professionals, and retirees alike.

One of the most distinctive features of Eastlake is its diverse architectural landscape, particularly the charming homes with 5-9 units that dot the neighborhood. These multi-family residences provide a wonderful opportunity for those seeking a tight-knit community feel without sacrificing modern conveniences. Many of these homes boast beautiful views of the lake, easy access to parks, and proximity to local shops and restaurants. Imagine waking up to the gentle sounds of the water and enjoying your morning coffee on a balcony overlooking the stunning Seattle skyline.

Eastlake is also known for its vibrant local culture. Residents can enjoy a variety of dining options, from cozy cafes to upscale restaurants, all within walking distance. The neighborhood is home to beautiful parks, such as the popular Eastlake Park, where you can enjoy leisurely strolls, picnics, or simply soak in the beautiful surroundings.

With its unique blend of residential charm and urban amenities, Eastlake is not just a place to live—it's a place to thrive. Come discover the magic of Eastlake and find your perfect home in this enchanting Seattle neighborhood!

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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