The Wick - 27 Units
The Brennan Pohle Group and our partners acquired this 27 unit class C+ property in 2019. Property is located in Kansas City MO within the path of progress surrounded by new developments and the cities general plan expansion. Plans are to add $9,500 unit repairing deferred maintenance and upgrades to units, washer dryers, etc. Will turn the property into a solid B property by 2021. Projected returns provide for 9%+ cash on cash and 17-21% IRR.
UPDATE Dec 2020:
Property is about 50% renovated. The property is achieving desired rents ahead of schedule even with the COVID crisis. We are continue to rehab the property and improve the overall appearance of the building. We look forward to continued success with the investment.