Crestwood Apartments

Acquired from an MLS listing, Crestwood was a 23 unit building in need of modernization. We executed a full value-add program including renovating 21 units, installing new windows and balcony sliders throughout, updating areas with new doors and paint, upgrading the security system and installing wifi throughout the building for tenants.

Financial Snapshot

Purchase Price - $2,776,000

Capital Raised - $1,000,000

Renovation Budget - $525,000

Refinance Valuation - $4,360,000

Cashflow After Refinance - $3,200/ month

Investor Capital Returned - 100% 

Investment Highlights

  • Acquired with upside potential

  • Renovated all common areas and 90% of units

  • Increased income by 46%

  • Improved NOI by 35% within 12 months

  • Executed refinance returning 100% of investment capital

 At a Glance

Location - Medicine Hat, AB

Acquisition Date - November 2024

Property Type - Multifamily – 23 Units

Strategy - Value-Add - Renovate & Refinance

Hold Period - Ongoing

Status - Refinanced

The property was acquired from a long-time owner who took excellent care of the building but had not modernized units or adjusted rents to market levels. This created a straightforward path to improve cash flow through renovations and improved asset management, making it an ideal candidate for a disciplined value-add strategy.

Before/After Gallery

Hallway

Living Room

Kitchen

Bathroom

Bedroom

Storage Room

  • "This deal reinforced our confidence in the team's process. Execution was disciplined, and the property has performed as expected. We appreciate the straightforward communication and regular updates."

    Investor, Crestwood Apartments