9-Unit Apartment Building with Bay
For Sale
$2,750,000
3261 Fuhrman, Seattle, WA 98102
Mid-century apartment property with private decks, off-street parking, and a mix of updated interiors.
Property Size6,765 SF
Price / SF$406.50
Days on Market111
Property Features for 3261 Fuhrman
General Information
Standard status
Active
Size
6,765 SF
Property subtype
Multi-family
Site & Location
Neighborhood
Capitol Hill
Building Details
Year Built
1952
Listing Agency:
Westlake Associates,Inc.
Listed By:
Reid Jones · License #87080
(206) 250-9655
Source:
Skylineproperties
Added: Jul 10
Changed: Oct 27
Last Checked: Oct 28 at 8:27AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Westlake Associates,Inc.
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Investment Insights
Based on property information with market context.
Built in 1952, this 9-unit apartment building includes seven 1-bedroom, 1-bath residences and two 2-bedroom, 1.5-bath residences. The 6,765-square-foot wood-frame property has a brick exterior, private decks with Portage Bay views, and off-street parking. Interior features include hardwood or LVP flooring, updated cabinetry, quartz countertops, stainless-steel appliances, and modern lighting in a portion of the units. One residence has also been converted to include in-unit laundry.
The property occupies a 9,220-square-foot parcel at 3261 Fuhrman Ave E in Seattle, between the Eastlake and Montlake neighborhoods. The site is zoned LR3 (M). Recent capital improvements have been completed, while additional unit renovations and laundry installations remain among the documented property initiatives.
The property occupies a 9,220-square-foot parcel at 3261 Fuhrman Ave E in Seattle, between the Eastlake and Montlake neighborhoods. The site is zoned LR3 (M). Recent capital improvements have been completed, while additional unit renovations and laundry installations remain among the documented property initiatives.
Key Highlights
- 9 units: seven 1‑bedroom/1‑bath and two 2‑bedroom/1.5‑bath residences
- 6,765 SF apartment building on a 9,220 SF parcel
- Private decks with Portage Bay views
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,179
Cap Rate
4.15%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,283,580
$2.3M
Cap Rate 7%
$1,631,129
$1.6M
Cap Rate 9%
$1,268,656
$1.3M
Market Conditions
NOI Build-Up for 6,765 SF
Gross rent
$215.1K $31.80/SF
− Vacancy
−$7.5K −$1.11/SF
EGI
$207.6K $30.69/SF
− OpEx
−$93.4K −$13.81/SF
NOI
$114.2K $16.88/SF
Area
Seattle, WA
Vacancy
3.50%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,283,580
Cap Rate 7%
$1,631,129
Cap Rate 9%
$1,268,656
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,179 @ 7.0% cap · market cap 4.15%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.04M
$1.78M – $2.37M
NOI $142,469 @ 7.0% cap · market cap 5.18%
Zoning and permitted uses should be independently verified with authorities.
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Location Intelligence
Trade Area within ½ mile
2,315
Businesses Nearby
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Business Placement
Demographics for 98102, WA
25,066
Population
17,944
Households
1.4
Avg Household Size
34
Median Age
79%
College-Educated
99%
High-School Grad
1.3 sq mi
ZIP Area
19,282
Density / Sq Mi
$114,395
Median Household Income
$80,130
Median Earnings
$1,920
Median Rent
$988,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Mid-century apartment property with private decks, off-street parking, and a mix of updated interiors.
Where is this apartment building located?
The property is located at 3261 Fuhrman Seattle, WA.
What is the asking price?
The asking price for this property is $2,750,000.
What are key features of this property?
This property features: 9 units: seven 1‑bedroom/1‑bath and two 2‑bedroom/1.5‑bath residences; 6,765 SF apartment building on a 9,220 SF parcel; Private decks with Portage Bay views
