Adding property value through curb appeal, leaving money on the table

Over the last 10 years or so that I have been doing apartment buildings, the properties usually fall into one of two categories, pride of ownership and not.  Generally speaking when a building looks crappy on the outside, it is also crappy inside, and the tenant profile usually fits the project.  Enhancing curb appeal is to me the best money you can spend on a building, even more so than suite renovations. Why? Well it is the first thing you see when you drive/walk by, the first thing prospective tenants see, as well as possible buyers of your property will immediately link the look of the project to the value, and the appearance will attract the best quality tenants who are searching for a place to live.  Often these improvements cost very little, nice landscaping, paint, and a sign can drastically change the look for a few hundred or a couple thousand dollars.  We are in the process of some major signage improvements to our Beaumont property simply because it is a long term hold and we wish to attract and retain the best quality tenant we can find for top dollar.  A project with poor curb appeal shows me the darker side of making money in real estate, cutting expenses AKA slum lording which is bad for the community, the neighbours, and tenants.

The financial argument can be made with this simple example. Say you own a building beside your neighbour, same suite mix, same appearance, etc.  Lets say you spend $10,000 on curb appeal.  If you have a 20 suite building and because you look better than your neighbour you are able to charge an extra $10 per suite your building is now worth $40,000 more than your neighbour! $10 x 20 suites x 12 months is $2400 per year, capitalized at 6%.  This simple financial equation escapes many people and it is easily argued that you must make these improvements from a financial perspective. Furthermore in times with low vacancies, the ugly buildings will be full with poor tenants and slightly lower rents, when vacancies rise the nicer projects are best positioned to retain their existing tenants through tough times while the latter is often forced, too late, to upgrade their project or have an empty building.


    Success Stories

  • Raleigh Square – Red Deer Alberta

    7180 Park Avenue, Red Deer, Alberta

    Purchased December 2017 for  $3,024,000 with a $2,740,000 VTB (90% for  3 years)

    Altyn Equities invested $200,000  and co-managed the venture

    Property was refinanced in September 2018 for $5,380,000, 8 months later!

    Approximately $1,000,000 invested for a value lift of over $2,350,000.

    Substantial Value increase in a short time frame by upgrading and raising rents accordingly.

    ROI: Substantial ROI - Please contact

    Sold for: Substantial - Please contact

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  • Church Road – Spruce Grove

    200 Church Road, Spruce Grove, Alberta

    Will Purchase August 2018 $1,750,000 with a 75% loan @4.5% for 5 years

    Cash required $750,000

    ROI: Please contact for more information

    Sold for: Subscription filled - Currently Active

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  • Mansard Terrace

    710 8th Street East, Saskatoon Saskatchewan

    Purchased October 2017 $1,470,000 with a 65% loan @3.25% for 5 years

    Cash invested $630,000

    ROI: Please contact for more information

    Sold for: Subscription filled - Currently Active

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  • Marsin Apartments

    2440 Louise Avenue, Saskatoon Saskatchewan

    Purchased October 2016 $1,200,000 with a 75% loan @3% for 5 years

    Cash invested $420,000

    ROI: Please contact for more info

    Sold for: Currently Active

    View Project ➝