Portfolio / Acadia Apartments
Acadia Apartments
Purchased off-market at roughly 20% below appraised value. After investing less than $100,000 in renovations and improving rental income, a subsequent appraisal valued the property approximately 88% above our original purchase price.
- Location
- Southern Alberta
- Units
- 8
- Acquired
- January 2023
- Status
- Refinanced — held
The project
What we did
A focused value-add program built around building security and stable tenancies. We addressed persistent tenancy issues, installed security cameras, upgraded to secure video entry, and renovated the remaining original units. The improvements strengthened security and supported meaningfully higher rents.
- Acquired well below market through an off-market deal
- Only three units needed renovation
- Upgraded security: cameras and a secure video entry system
- Improved net operating income by 56% within 18 months
- Refinance returned 100% of investor capital in 18 months
Results
- Bought below appraisal
- 20%
- NOI improvement
- +56%
- Time to full capital return
- 18 months
Before & after
Drag to see the difference
Gallery
Around the building
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