A New Kind of Multifamily Investment
24-unit boutique apartment community in a high-demand Midwest market. Real cash flow, flexible exit paths, and rare seller financing—now in the second raise window.
The Opportunity
Durable Yield Meets Intelligent Upside
Woody Creek Apartments is a 24-unit, newer-construction multifamily asset in Schererville, Indiana—built in 2012 and just 45 minutes from Chicago. With low vacancy, condo-quality finishes, and seller financing in place, this deal offers investors a rare mix of cash flow, downside
protection, and long-term optionality.
The business plan is straightforward: lightly renovate units, raise rents to market, and capitalize on multiple exit strategies—including the ability to sell off individual buildings.
Now in our second capital phase, investors can benefit from momentum already in motion, with preferred returns accruing from day one.
Market Highlights:
Why Schererville, IN Stands Out Right Now
Chicago-area growth without Chicago pricing: Median home prices are roughly 40% lower than nearby Illinois suburbs, drawing high-income renters who want more for their money.
Proven rent growth runway: Current in-place rents at $1.09/SF vs. market comps at $1.55+/SF, creating built-in upside without pushing affordability limits.
Top-5 landlord-friendly state: no rent control, fast evictions, and low property taxes
Landlord-friendly legal climate: Indiana ranks top-5 nationally for owner protections—no rent control, low property taxes, and quick enforcement of lease terms.
Migration tailwinds: Steady inbound flow from high-tax Illinois, particularly from Chicago’s professional class, adds to demand stability.
Economic durability: Stable employment anchored in healthcare, logistics, and manufacturing—industries less sensitive to economic swings.
Midwest multifamily ascendance: The Midwest is now the #1 U.S. region for inbound migration, with CRE Daily reporting strong absorption, historically low new supply, and rent growth surpassing coastal markets.
Institutional capital rotation: After a decade of chasing Sun Belt deals, large investors are moving into the Midwest for its lower volatility, higher yield on cost, and more favorable pricing spread over replacement cost.
Financial Overview:
We’re targeting strong risk-adjusted returns with a focus on stable cash flow, equity growth, and strategic upside.
Investors can select from three investment tiers, each offering preferred returns and aligned equity participation.
For a limited time, investments of $500K or more may qualify for an elevated preferred return during this final capital window.
Join Our Live Strategy Session
We’re hosting a live Zoom walkthrough of Woody Creek’s second capital phase—covering performance to date, preferred return options, and how bonus depreciation enhances after-tax yield.
Why This Deal Is Different:
6 Reasons Investors Are Leaning In
Seller Financing Advantage: Interest-only loan at 3.25%–4.5% over 6 years; monthly income is significantly higher than debt service.
Real Execution, Not Theory: First unit renovated below budget; strong pre-leasing interest above pro-forma.
Multiple Exit Paths: Property subdivided into six 4-plex parcels. Sell individually or hold long-term.
Depreciation Boost: Investors receive accelerated write-offs via cost segregation for enhanced after-tax yield.
Lower Risk, Higher Control: Strong tenant base, boutique scale, and local contractors = more predictable NOI.
Immediate Traction: Two units already vacant and ready to lease or renovate—no delays, no friction.
Why Small Multifamily Still Wins
Built to weather real-world conditions. Our underwriting assumes nearly double the local vacancy rate and holds a full year of mortgage payments in reserves, so the property stays cash-flow positive even with elevated vacancy during renovations.
Efficient Execution: Smaller assets enable tighter cost controls and faster renovations—boosting ROI on each dollar spent.
Flexible Exit Paths: The property is subdivided into six 4-plex parcels, offering multiple disposition strategies, including retail sales to individual buyers.
Desirable Demographics: High-quality finishes and a quiet community environment attract working professionals, not transient tenants.
Day‑One Math: Current rents (two vacancies, pre‑upgrade) ≈ $40K/mo; interest‑only debt service ≈ $12K/mo—strong spread before any rent lifts.
Second Capital Window Now Open
The second raise window is now open. Early investors lock in preferred returns up to 10% and may be eligible for GP equity incentives via side letter.
WHAT OUR INVESTORS SAY
As an investor with Asset Stream Properties, I am never worried at any point and can trust that my investment is being well taken care of. Pete always does what he says he is going to do and keeps people informed.
I have known Pete for years and have seen that he is always on top of things. In the first year of my investment, it is already producing strong returns and the value of the property has gone up significantly. Pete is cautious and analyzes deals with care - he has a gift for seeing what a property could be with small upgrades that make the property significantly more cashflow positive.
What I have appreciated about this journey is that Pete is an expert in what he does, but I always feel like a part of the decision making process without having to be hands on.
Michael Burke
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