Eastlake Homes with 55 - 5-9 Units Style

Welcome to Eastlake, a vibrant neighborhood nestled along the picturesque shores of Lake Union in Seattle, Washington. Known for its stunning waterfront views, eclectic mix of architecture, and a strong sense of community, Eastlake offers a unique blend of urban convenience and natural beauty.

As you stroll through the tree-lined streets, you’ll discover a charming array of homes that reflect the neighborhood’s rich history and character. Among these, the homes with 5-9 units stand out, offering a perfect balance of space and community living. These multi-family dwellings are ideal for those seeking a cozy yet connected lifestyle, whether you're a first-time buyer, an investor, or looking for a place to call home with friends or family.

Eastlake is not just about beautiful homes; it’s a neighborhood that thrives on its vibrant local culture. Enjoy a leisurely afternoon at one of the many parks, such as the scenic Eastlake Community Park, or take a leisurely stroll along the waterfront, where you can soak in the stunning views of the Seattle skyline. The neighborhood is also home to a variety of trendy cafes, restaurants, and shops, making it a hub for socializing and entertainment.

With easy access to downtown Seattle and nearby attractions, Eastlake provides the perfect backdrop for those who appreciate both city life and the tranquility of nature. Whether you’re enjoying a sunset by the lake or indulging in the local culinary scene, Eastlake is a delightful place to call home. Come explore the charm and community spirit that this remarkable neighborhood has to offer!

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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