CBRE has arranged the $24.1 million sale of The Q, an 87-unit multifamily community in Seattle’s Queen Anne neighborhood. The property, located at 1321 Queen Anne Ave N, was sold to Kite Partners LLC. The mid-rise asset is positioned in a walkable, close-in location that offers residents convenient access to some of Seattle’s most recognizable destinations.
CBRE’s investment sales team of Mark Zoffel, Peter Wright, Reed Hunter, and Spencer Clark represented the seller, Acme Realty, in the transaction. Their assignment covered marketing the property and negotiating the sale to Kite Partners LLC. In conjunction with the disposition, CBRE professionals James Bach and Nick DaValle from the firm’s Debt & Structured Finance team facilitated the assumption of the existing loan on the property, enabling a smoother closing process for both parties.
The Q comprises studio, one-bedroom, and two-bedroom apartment homes. Common-area amenities at the community include a rooftop deck, an on-site fitness center, and features designed to accommodate residents with pets. These offerings position the property competitively within the Queen Anne neighborhood, where renters often prioritize lifestyle amenities and proximity to employment, entertainment, and services.
The property’s location places residents within walking distance of several well-known Seattle attractions. Nearby Kerry Park provides panoramic views of the downtown skyline and Elliott Bay, while the Space Needle and Seattle Center offer cultural, entertainment, and tourism draws a short walk away. This combination of neighborhood character, amenity access, and connectivity underpins the appeal of Queen Anne as a multifamily submarket.
CBRE indicated that the sale of The Q reflects ongoing investor interest in well-located, walkable multifamily assets in close-in Seattle neighborhoods. According to Zoffel, properties in submarkets such as Queen Anne align closely with what multifamily buyers are currently seeking. The transaction demonstrates that investors remain active in acquiring urban multifamily communities that combine established neighborhoods with strong live-work-play dynamics.
The Q’s mix of unit types, amenity package, and in-fill location supports its positioning as an institutional-quality asset within the Seattle multifamily market. With the loan assumption successfully completed alongside the sale, Kite Partners LLC takes ownership of a stabilized community in a submarket that continues to attract both residents and capital. The deal highlights how investor demand is concentrating on assets that offer walkability and proximity to core city amenities.
