exclusively offered by berkadia seattle

Judkins TOD Townhomes

New Construction in High-Demand Transit Corridor

2001 & 2009 S Norman St 98144 
Seattle, WA 

Highlights

12

Total Units

1,462 SF

Avg. Unit Size

17,540 SF

Building Size

2025 &
2026

Year Built
(Phase I & Phase II)

investment highlights

Transit-Oriented New Construction Asset: Built in two phases across 2025 and 2026, Judkins TOD Townhomes features 12 newly built townhomes with11 three-bedroom, two-plus-bathroom floor plans and one two-bedroom, two-bathroom unit, located just 0.3 miles from Judkins Park Light Rail Station.

Enhanced Regional Connectivity: Direct access, via I-90 and I-5, to Downtown Seattle, Bellevue, Redmond, and the broader regional transit network expands commuter appeal and supports rental demand.

Elevated Design and Finishes: Modern interiors, rooftop decks with panoramic skyline views, and premium finishes—including top-floor primary suites, quartz countertops, mini-split air conditioning, and open-concept layouts—differentiate the property within the market.

Additional Income Upside: Income from fully leased parking, rentable storage units, and EV charging provides immediate supplemental revenue with potential for further growth. Additional EV charging stations can readily be installed for remaining units, generating $100 monthly premiums.

Favorable Supply-Demand Fundamentals: Strong annual demand for urban living with transit access and new construction slowdowns provide a favorable lease-up environment.

Long-Term Appreciation Potential: The property is well positioned to benefit from continued neighborhood growth and increasing demand for transit-oriented housing.

Affluent Area Demographics: Median household income is $115,197 within a one-mile radius and is projected to reach $205,905 over the next five years.

Flexible Exit Optionality: Individually deeded residences allow for individual unit sales , a bulk portfolio disposition, or selloffs of Phase One and Two separately.

12-Unit Townhome Community in Central Seattle

Unit Mix

Unit Type
Count 
Avg
Unit SF
Total SF
Current Rent
Market
Rent
2 Bed / 2.25 Bath
1
1,365
1,365
$4,500
$4,650
3 Bed / 1.75 Bath
9
1,436
12,923
$4,036
$4,650
3 Bed / 2.25 Bath
2
1,626
3,252
$4,500
$4,950
Total/Average
12
1,462
17,540
$4,152
$4,700
Unit Type
Monthly
Rent
Annual
Rent
Rent/SF
2 Bed / 2.25 Bath
$4,650
$55,800
$3.41
3 Bed / 1.75 Bath
$41,850
$118,800
$3.24
3 Bed / 2.25 Bath
$56,400
$93,600
$3.04
Total/Average
$36,200
$676,800
$3.22

Property Overview

Judkins TOD Townhomes

  • ADDRESS2001 & 2009 S Norman St
  • CITY, STATE ZIPSeattle, WA 98144
  • UNITS12
  • AVG UNIT SIZE1,462 SF
  • PRICEContact Broker
  • AVG CURRENT RENT$4,152
  • YEAR BUILT2025 (Phase I) & 2026 (Phase II)
  • Building Size17,540 SF
  • Market Cap Rate4.95%
  • Parking11 Garage Spaces + 3 EV Charging Stations*
  • PARCEL872810-0642, -0643, -0644, -0645, -0646, -0647, -0648, -0649, -0650, -0651, -0652, -0653
  • LOT SIZE11,501 SF / 0.26 AC
  • ZONINGLR2 (M)
  • COUNTYKing
*Additional EV charging stations can be installed

location

contact us to learn more

PRIMARY CONTACT
Brandon Lawler

Senior Director
206.484.8114
[email protected]

Mitchell Belcher

Managing Director
425.891.9594
[email protected]

INVESTMENT SALES
Steven Chattin

Managing Director
425.269.3826
[email protected]

Jay Timpani

Managing Director
206.999.3206
[email protected]

Chad Blenz

Senior Director
206.491.2008
[email protected]

mortgage banking
Robert Doxsee

Managing Director
425.777.0235
[email protected]

Michael Manolides

Senior Director
253.670.2143
[email protected]

Connor Lemley

Associate Director
206.455.1592
[email protected]

offices in bellevue & seattle

bellevue

411 108th Avenue NE
Suite 1080
Bellevue, WA 98004
206.521.7220

seattle

601 Union Street
Suite 3720
Seattle, WA 98101
206.521.7220

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