College Drive Apartments

Acquired off-market in mid 2023, College Drive Apartments was a 20-unit building with significant value-add potential. Through targeted upgrades—including suite renovations, LED lighting, complimentary in-suite Wi-Fi and upgraded heating ststem—we modernized the asset, increased income by 43%, and positioned the property for an early refinance.

Financial Snapshot

Purchase Price - $2,315,000

Capital Raised - $600,000

Renovation Budget - $330,000

Refinance Valuation - $3,600,000

Annualized ROI - INFINITE – capital was repaid upon refinance

Investor Capital Returned - 100% 

Investment Highlights

  • Acquired at a great price, off–market

  • Seller financing of $225,000

  • Renovated all common areas and 60% of units

  • Replaced existing with High efficiency boiler heating system

  • Increased average rent by 43%

  • Executed refinance returning 100% of investor capital within 18 months

 At a Glance

Location - Southern Alberta

Acquisition Date - June 2023

Property Type - Multifamily – 20 Units

Strategy - Value-Add / BRRRRR

Hold Period - 5 year minimum - Ongoing

Status - Refinanced

The property was acquired from a long-term owner who had deferred maintenance but kept strong occupancy. We updated kitchens and bathrooms, added keyless entry, and improved curb appeal. The result was higher-quality tenants, reduced turnover, and improved operating efficiency.

Before/After Gallery

Hallway

Living Room

Kitchen

Bathroom

  • “This project exceeded expectations. We refinanced early, returned full capital, and continue to receive monthly distributions. Communication and transparency were excellent throughout.”

    Investor, College Drive Apartments