Updated Jul 7, 2026
SOLDMultiFamily
Kite Partners LLC Acquires 87-Unit Multifamily Property In Seattle From Acme Realty Partners For $24.1M
1321 Queen Anne Avenue North
$24,100,000
Units
87
Asset Type
MultiFamily
Closing
Jul 6, 2026
About this deal
AI
The Q is an 87-unit multifamily property located at 1321 Queen Anne Avenue North in Seattle, WA. The property was sold for $24,100,000, resulting in a price per unit of $277,011.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $24,100,000
- Buyer: Kite Partners LLC
- Seller: Acme Realty Partners
- Units: 87
- Brokerage Firm: CBRE
- Mortgage Brokers: James Bach & Nick DaValle - CBRE
CBRE arranged the transaction, representing the seller and facilitating the loan assumption. The deal highlights sustained investor demand for walkable multifamily assets in central Seattle.
On the Map
$24,100,000
MultiFamily
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Players
Kite Partners LLCBuyer
AP
Acme Realty PartnersSeller
Seattle MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.66%
Cash-on-Cash
-0.19%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93