Greysteel Advisors Arranges $9.67M Sale of 76-Unit Ward 4 Multifamily Portfolio in Washington, D.C.

Greysteel Advisors has arranged the sale of a 76-unit, three-property multifamily portfolio in Washington, D.C.'s Ward 4 for a combined $9.67 million, executing the disposition across two separate private-capital buyers at a blended 6.35% cap rate.

The transaction, known as the Ward 4 Portfolio, comprised Longfellow Apartments, Allison Apartments, and Randolph Apartments — all Class B/C multifamily communities in the District. The portfolio closed in two tranches, with the final property completing on Aug. 28, 2026.

Three Properties, Two Buyers, One Coordinated Disposition

The first two closings occurred on July 21, 2026. Allison Apartments, a 27-unit community at 220 Allison Street NW, sold for $3,375,000, or approximately $125,000 per unit. Randolph Apartments, a 26-unit building at 1235 Randolph Street NW, sold for $3,120,000, or roughly $120,000 per unit. Both properties were acquired by a multifamily investor based in Northern Virginia.

The third closing, on Aug. 28, 2026, involved Longfellow Apartments, a 23-unit community at 5524 8th Street, Washington, D.C. That property sold for $3,175,000 — approximately $138,000 per unit — to a high-net-worth family office based in the District.

Across the three assets, the portfolio averaged roughly $127,000 per unit, with an implied net operating income of approximately $614,000 based on the reported cap rate and total consideration.

Legacy Workforce Housing Stock in Ward 4

The properties are characterized as legacy-owned Class B/C multifamily product, consistent with the older walk-up stock common in Ward 4. Randolph Apartments is a three-story building constructed in 1927, with a unit mix of studios and one-bedrooms averaging approximately 325 square feet — a profile typical of workforce housing in the area.

Greysteel Advisors positioned the portfolio to reflect affordability constraints and localized investor demand in the D.C. market, aligning execution timing with buyer-specific capital objectives and seller 1031 exchange timelines.

Execution Across Multiple Buyers and Capital Structures

The decision to market the portfolio without requiring a single buyer allowed Greysteel Advisors to broaden the buyer pool and accommodate the distinct capital profiles of participating investors. The firm managed marketing and closing logistics across both transactions simultaneously.

"We're thrilled with the outcome of the Ward 4 Portfolio sale, and believe the transaction represents a strong win for both the seller and the buyers," said Michael Murray, Director for the Mid-Atlantic Multifamily Investment Sales Team at Greysteel. "Executed at a blended 6.35% cap rate across the three assets, the sale achieved fantastic pricing for legacy-owned Class B/C multifamily product and reflects the strength of the opportunity presented to the market. We prioritized market intelligence and disciplined execution to complete the portfolio transfer while addressing the distinct capital profiles of participating buyers."

Market Context: Small-Scale Portfolio Trading in D.C.

The transaction reflects continued private-capital appetite for workforce and affordable housing assets in urban D.C. submarkets, where legacy multifamily inventory trades at price points accessible to family offices and regional investors. The structure — three properties, two buyers, staggered closings — illustrates a pattern in small-scale portfolio dispositions where sellers accommodate 1031 exchange timelines and buyer-specific capital objectives alongside execution certainty.

Greysteel Advisors is a commercial real estate investment sales and debt and structured finance advisory firm serving private and institutional investors across asset types and geographies.

Sources

Greysteel — Greysteel Arranges Sale of 76-Unit Legacy Housing Portfolio in Washington, D.C.