Kidder Mathews Sells 60-Unit Uptown Queen Anne Apartments for $19.9M

Uptown Queen Anne Apartments
The property features large units with scenic views, making it a highly desirable investment. The $19,900,000 sale equated to a price per unit of $331,000 and a price per square foot of $496.

Uptown Queen Anne Apartments, a mid-rise apartment building with 60 units and two commercial spaces located at 315 1st Avenue W. in Seattle, has sold for $19,900,000.

Jerrid Anderson and Winslow Lee of the Simon and Anderson team, a multifamily investment team based at Kidder Mathews’ Seattle headquarters, represented the seller in this off-market transaction. The seller was the original developer of the property and had owned the building since 2001.

The buyer, Trinity Real Estate, is a well-respected investor in the Puget Sound area. This closing marks the Simon and Anderson team’s fifth successful deal with the company.

Uptown Queen Anne Apartments is a modern asset located in the prime Queen Anne neighborhood, close to the Climate Pledge Arena. The cap rate for this transaction was 4.7%.

“We’re thrilled to have facilitated the sale of Uptown Queen Anne Apartments,” said Anderson. “This off-market deal really highlights our team’s unmatched buyer network and ability to secure a strong price in a challenging market. I’m excited to see how Trinity Real Estate will take Uptown Queen Anne Apartments to the next level, boosting its value and appeal in this prime Seattle spot.”

The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 10 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million.

Kidder Mathews is the largest independent commercial real estate firm on the West Coast, with over 900 professionals at offices in Washington, Oregon, California, Idaho, Nevada, and Arizona. The company offers complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages over $10 billion in transaction volume, manages 55 million square feet of space, and conducts 2,600 appraisal, consulting, and cost segregation assignments annually