Greysteel arranges sale of 108-unit multifamily totaling $11.34M

WASHINGTON, DC — Greysteel has arranged the sale of Oak Park Apartments, a 108-unit multifamily community in Southwest Washington, DC.
Greysteel president & CEO, Ari Firoozabadi; managing director, W. Kyle Tangney; director, Herbert Schwat; senior investment associate, Christian Alves and investment associate, Dutch Seitz all based out of the firm’s Washington, DC office sold the property on behalf of the owner, NOVO Properties and solely procured the buyer, SOLID Properties. The Property sold for $11.34 million which equates to $105,000 per unit.
Oak Park Apartments is a unique garden-style multifamily community. SW, Washington, DC The property is nearly 70% two- and three-bedroom units with an average unit size of 747 s/f. Recent unit improvements included upgrades to cabinets, countertops, appliances, and bathrooms upon turnover. Stainless steel-style appliances and dishwashers, six panel interior doors, individually controlled heat and A/C are just some of the attractive unit interior features that appeal to residents.


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