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BWC Multifamily Fund I is a 900k raise. The Fund Consists of 49 apartment units on Chicago’s South side.
Bennet was included in BWC Multifamily Fund I. A 900k raise to acquire repair and management 49 apartments on Chicago’s South side. The purchase is on course for investor distributions and getting the anticipated rental rates. This building was purchased from an absentee owner who refused to invest in the property, thereby neglecting the tenants and the community. Those are the types of owners we target, not only for the discounted properties, but also to push them out of the neighborhood.
In the first months of ownership we addressed deferred maintenance to the roof, chimney, porches, windows and garages. Cosmetic upgrades will be made to the apartments as the units turnover. We’ve seen an immediate increase in rental interest and value of the building after making the stated improvements. Simply repairing and properly renting the multiple garages increased monthly revenue and will aid in tenant retention.
