Portfolio / Crestwood Apartments
Crestwood Apartments
Acquired from an MLS listing, Crestwood was a 23-unit building in need of modernization. We executed a full value-add program: renovating 21 units, installing new windows and balcony sliders throughout, refreshing common areas, upgrading the security system, and adding building-wide tenant Wi-Fi.
- Location
- Medicine Hat, AB
- Units
- 23
- Acquired
- November 2024
- Status
- Refinanced — held
The project
What we did
The building came from a long-time owner who took excellent care of it but had not modernized units or adjusted rents to market. That created a straightforward path to improved cash flow through renovation and tighter asset management — an ideal candidate for a disciplined value-add program.
- Renovated all common areas and 21 of the 23 units
- New windows and balcony sliders throughout the building
- Increased income by 46%
- Improved net operating income by 35% within 12 months
- Refinance returned 100% of investor capital
Results
- Income increase
- +46%
- Units renovated
- 21 of 23
- Investor capital returned
- 100%
Before & after
Drag to see the difference
Gallery
Around the building
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