67-Newly Built Units Near Retail Core in Seattle’s Fremont Neighborhood
/ Recently built, this new construction is in Seattle’s Fremont neighborhood, just half a block from the retail core and N 36th Street, a principal arterial
prime turnkey asset with initial
lease-up nearing completion
/ With occupancy achieving 95%, Rowlock is fully stabilized and has completed its initial lease up, while proving rental upside with the highest rents setting new benchmarks at 12% above current market rates
Address
City, State, Zip
Year Built
Units
Total Size
Parcel No.
Total Lot Size
Zoning
County
3620 Phinney Ave N
Seattle, WA 98103
2024
67
25,238 NRSF
197220-0490
10,000 SF / 0.23 acres
LR3 (M)
King
/ Rowlock boasts Energy-Efficient, Built Green 4-Star Certification
/ Diverse unit mix including studios, one-, and two-bedroom units; 36% of all units are lofted, with open floorplans and 17-foot ceilings
/ Thoughtfully designed with an oversized lobby, separate meeting spaces, immediate access to the Burke-Gilman Trail, and an indoor/outdoor heated rooftop terrace and kitchen
/ Amenities include air conditioning on top two floors, washer/dryer in all units, bicycle storage and repair station, paid tenant storage, pet washroom, and a heated rooftop resident lounge
/ Robust renter pool within one-mile radius, with 57% of housing units renter occupied
/ Location has a Walker’s Paradise score of 96 and a Very Bikeable score of 88, in addition to offering direct access to a major tech hub with Google, Adobe, and Tableau within half a mile of the property
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perfect multifamily investment
/ Rowlock’s incredible location in Seattle’s bustling Fremont neighborhood is easily accessible to employers, restaurants, nightlife, and retail stores
/ With high-quality construction and great attention to detail, Rowlock attracts young, working professionals wanting new construction with desirable amenities near employment sectors, while still offering ownership high market rents per square foot; 32% of renters are in the key renter age group of 18 to 35
/ Strong renewal percentage with 3-5% annual rent increases achieved to date in 2025
/ Property’s central location supports consistent future rental demand, with 85% of residents employed in white-collar positions compared to 71% in the Seattle Metro
/ The building consists of six floors, ground-level outdoor amenity space, shared laundry facilities, bicycle storage, and a lobby
/ In-unit amenities include floor-to-ceiling windows, stainless steel appliances, quartz countertops in kitchens and baths, high ceilings, undermount sinks, plank flooring, and private decks in select units
/ Strong tenant demographics with average income over $110,000 annually
Our Team
INVESTMENT ADVISORS
MORTGAGE BANKING
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411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
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601 Union St, Suite 3909
Seattle, WA 98101
contact
Phone: 206.521.7220
Fax: 206.521.7222
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