Christian OsgoodCEO, Multifamily Strategy · CEO at Multifamily Strategy

Something new never hurt no body🤑 #realestateinvesting #studenthousing #investing

10 Jul 2025 · 1 min

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1:09

Christian Osgood bought a troubled apartment building for $1.6 million and converted it to student housing. After a $100k renovation, it appraised at $2.7 million. The nearby university has a 1,000-unit housing shortage, making the 500-square-foot units an easy sell.

Chapters

Come on in, we have our student housing conversion. This is a new project for us. When we first bought this, there's a ton of people in here renting at $450, and these were basically homeless people. I don't want to be mean, but I mean, these were just gross units. There were bed bugs, but otherwise the building itself is in good condition. Now they're really small units, but they're right next to campus. Campus has about a 1,000-unit shortage right now for students. So what do we have here? We have laundry facilities, we have great parking, we have affordable units. They're little one beds These are about 500 square feet, so they're not very large, but you have your own kitchen living room area. You have a bedroom, you have a bathroom that we just finished most of the reno on. This will be on market here in about a week. Now the one thing I don't think you should copy on this— white fridge, stainless steel microwave, black stove range. Next time we do a reno in here, we're going to go ahead and make them all one color, likely all black. But other than that, great reno. This is the type of stuff that you can do super affordably. We killed it on this deal. Bought for $1.6, appraisal came in at $2.7 million. That is a $1.1 million flip. We only spent $100,000 on the reno, so overall just eeked by with a million dollars of profit.