Dartmouth Multi-Residential Portfolio

On behalf of the owner, Avison Young is pleased to offer for sale 59, 61-63 Caledonia Road, a 21 unit apartment portfolio located in Dartmouth, Nova Scotia.

The portfolio includes three buildings; a twelve unit, eight unit and one single-family home, for a total of 21 units across the portfolio. The property is zoned Multi-family Residential Zone – Medium Density (R-3), permitting a variety of residential uses including single-family use, semi-detached or duplex dwelling use, townhouse use and apartment use.

Location

The property is located on the eastern side of Caledonia Road in the Dartmouth East community, just off the main thoroughfare of Main Street, offering excellent local and regional accessibility and in close proximity to major transportation routes and 100-series highways.

This area is near an array of amenities in the Downtown Dartmouth area as well as within roughly 6.5 km of the Dartmouth General Hospital, 1.2 km of NSCC Akerley, and retail and commercial amenities in Mic Mac Mall and Dartmouth Crossing, a major commercial hub with a diverse range of shopping and dining options. The property is near major transit routes in Dartmouth, connecting the area to the larger HRM. It is a short nine minute drive to the Mackay Bridge, 12 to the MacDonald Bridge and under 20 minutes to Downtown Halifax.

The immediate area has been built-up with strong demand for single family and apartment units. CMHC’s 2023 Rental Market Report saw Dartmouth’s overall vacancy rate drop from 1.6% in 2022 to 1.4%, while the average rent increased 10.78% to $1,295.00 with the average rent for a 2 bedroom unit coming in at $1,386.00.