Purchased for $48.5 Million
Adding value by bringing rents up to market value.
- CWCIM purchased a 190-unit multifamily property with below market rents for $48.5 million.
- The Partnership implemented professional property management to maximize rents in the dynamic and high growth Myrtle Beach MSA.
- The Partnership has increased the market rents on 2×2 units to $1,800 and $1,900, exceeding our projected market rents by $323, or 21.5%.