Four of the properties--all of which are in the B and C class category--are located in Prince George's county; the other four are in Montgomery County. The apartment house that just traded to a local buyer is called Hampshire View Apartments; it is a 31-unit garden style apartment located along East West Highway. It was accompanied by assumable financing, which is one reason why it was the first to close, according to O'Grady. Three more properties in the 103-unit Takoma Park portfolio are scheduled to close this month, he adds. A high net worth individual owns the portfolio.

Currently the market for multifamily properties is anemic, particularly in the class B and C categories, Grant Montgomery, vice president with Delta Associates, tells GlobeSt.com. Some deals have occurred such as the Avondale, a 237-unit apartment in Laurel, MD, which traded for $83,000 per unit or $19.7 million, he says. At $75,000 per unit, Hampshire View is roughly in line with the few trades that have occurred.

Despite the economy, vacancies in this category--typically lower rent apartments--are rising, according to Delta Associates statistics. Vacancies have reached 4.6% in June 2009, compared to 1.9% in June 2008. The average for B apartments in the DC area is 4.7%, Montgomery says, which is solid for a national average but elevated for the DC area.