Portfolio / College Drive Apartments
College Drive Apartments
Acquired off-market in mid-2023, College Drive was a 20-unit building with real room to improve. Targeted upgrades — suite renovations, LED lighting, in-suite Wi-Fi at no charge to tenants, and a new boiler — modernized the building, increased income by 43%, and positioned the property for an early refinance.
- Location
- Southern Alberta
- Units
- 20
- Acquired
- June 2023
- Status
- Refinanced — held
The project
What we did
The property came from a long-term owner who kept occupancy strong but hadn't modernized the units. We updated kitchens and bathrooms, added keyless entry, and improved curb appeal, helping modernize the building and strengthen its overall operations.
- Acquired off-market at a strong basis, with seller financing as part of the structure
- Renovated all common areas and 60% of units
- Replaced the boiler with a new high-efficiency system
- Increased income by 43%
- Refinance returned 100% of investor capital within 18 months
Results
- Income increase
- +43%
- Units renovated
- 60%
- Time to full capital return
- 18 months
Before & after
Drag to see the difference
Gallery
Around the building
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