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Tel Lofts 36 Wentworth St 24 Unit Apartment Building $10,625,045 CAD ($442,710 CAD/Unit) 4.40% Cap Rate Dartmouth, NS B2Y 2S8
Investment Highlights
- Walkable Location in Downtown Dartmouth
- 2 Retail Spaces on Lower Level
- Newly Renovated Units
- Fully-Leased Mutlifamily Investment
- New Finishes and Exterior Facade
Executive Summary
On behalf of the owner, Avison Young is pleased to offer for sale Tel Lofts, a 26-unit multi-residential building located at 36 Wentworth Street in the heart of Downtown Dartmouth. This offering provides an exceptional investment opportunity as an award-winning, boutique rental building in a desirable area with strong demand for rental units. Originally a telecom storage site, Tel Lofts has been reimagined by the vendor with a 70-foot addition, bringing the total property size to 34,918 sf, housing 24 residential suites, two short term guest suites, and two commercial units totalling 2,014 sf, currently rented as one to Solace Salon. Its location on Wentworth Street sets the property in the middle of the vibrant downtown core, steps away from a number of thriving local businesses, including award winning restaurants, breweries, local boutiques, that contribute to the unqiue fabric of the community. With its sought-after location and history-steeped architecture, Tel Lofts is a one-of-a-kind opportunity for investors looking to break into the market with a boutique offering or a seasoned purchaser looking to add a unique building to their portfolio
Property Facts
| Price | $10,625,045 CAD | Apartment Style | Mid-Rise |
| Price Per Unit | $442,710 CAD | Building Class | B |
| Sale Type | Investment | Lot Size | 0.28 AC |
| Cap Rate | 4.40% | Building Size | 34,918 SF |
| No. Units | 24 | No. Stories | 4 |
| Property Type | Multifamily | Year Built/Renovated | 1980/2019 |
| Property Subtype | Apartment | Parking Ratio | 0.29/1,000 SF |
| Zoning | DD - Downtown Dartmouth | ||
| Price | $10,625,045 CAD |
| Price Per Unit | $442,710 CAD |
| Sale Type | Investment |
| Cap Rate | 4.40% |
| No. Units | 24 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 34,918 SF |
| No. Stories | 4 |
| Year Built/Renovated | 1980/2019 |
| Parking Ratio | 0.29/1,000 SF |
| Zoning | DD - Downtown Dartmouth |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 17 | - | - |
| 2+2 | 5 | - | - |
| 3+3 | 2 | - | - |
1 1
Exceptionally walkable
100/100
Moderately drivable
60/100
Good public transit
70/100
Moderately bikeable
60/100
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Tel Lofts | 36 Wentworth St
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