Interra Realty has been exclusively engaged to market this 6 building portfolio in Kenwood. The offering consists of 204 units, all in excellent condition.

The properties are self-managed and have strong in place cash flow with current occupancy hovering around 90%. Since acquisition, ownerships has rehabbed approximately 30% of units to varying degrees, brought six previously offline units back onto the rent rolls and have been able to realize significant premiums on turnover.

The buildings offer economies of scale and the opportunity to continue to add significant value to the rent rolls through a few distinct approaches (bringing rents to market level, instituting a higher concentration of subsidy tenants, the addresses being in CHA mobility zones, etc). Also, there is a highly desirable unit mix with 86% of the units being 2 BD’s or larger.

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