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Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
INVESTMENT ADVISORS
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
MORTGAGE BANKING
Questions? Get in Touch!
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
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prime turnkey asset with initial lease-up nearing completion
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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
perfect multifamily investment
Chad Blenz
Senior Director
206.491.2008
chad.blenz@berkadia.com
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
contact
Phone: 206.521.7220
Fax: 206.521.7222
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/ 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
/ 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
/ 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
/ 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
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/ 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
67-Newly Built Units Near Retail Core in Seattle’s Fremont Neighborhood
Brandon Lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
/ 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
/ The building consists of six floors, ground-level outdoor amenity space, shared laundry facilities, bicycle storage, and a lobby
Michael Manolides
Senior Director
253.670.2143
michael.manolides@berkadia.com
Robert Doxsee
Managing Director
425.777.0235
robert.doxsee@berkadia.com
Chad Blenz
Senior Director
206.491.3826
chad.blenz@berkadia.com
brandon lawler
Senior Director
206.484.8114
brandon.lawler@berkadia.com
Jay Timpani
Managing Director
206.999.3206
jay.timpani@berkadia.com
Steven Chattin
Managing Director
425.269.3826
steven.chattin@berkadia.com
Mitchell Belcher
Managing Director
425.891.9594
mitchell.belcher@berkadia.com
INVESTMENT ADVISORS
MORTGAGE BANKING
Our team
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View Listings
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2023 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Tax Credit Syndication group. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
contact
Phone: 206.521.7220
Fax: 206.521.7222
Seattle office
601 Union St, Suite 3909
Seattle, WA 98101
bellevue office
411 108th Avenue NE, Suite 1080
Bellevue, WA 98004
/ 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
/ 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