- What A 136-year-old multifamily and retail building in Southwestern Ontario is asking $13m
- Why The owners recently completed a $1.8m renovation of the building
- What next Colliers is marketing the property
An 1888-built mixed-use property in Brantford, Ont., is on the block for $13m.
The low-rise building at 134-142 Dalhousie Street, dubbed New Victoria Place, comprises 35 residential units and 11 commercial units. The sellers are Toronto-based business partners Robert Reichmann and Jeff Glickman, who own the property under Dalhousie St. Ltd. Partnership.
Colliers is marketing the listing.
DSLP acquired the property in 2018 and soon began a $1.8m renovation, making improvements to both the interior and exterior of the building. The heating and cooling systems were modernized, the roof was replaced, and the parking lot was repaved.
The residential units tally four studios, 23 one-bedroom and eight two-bedroom units. Every unit was renovated, with updated kitchens and bathrooms. The average asking rent is $1,370, and the net operating income is $683,000.
The commercial units at grade are occupied by a variety of tenants, including an H&R Block, a tattoo shop, an electronics store and restaurants.
The property is in the midst of Wilfrid Laurier University’s Brantford campus and is close to multiple public transit lines. It is 550 m from the Brantford Commons retail plaza, which has staples such as a grocery store, a pet store, LCBO and Dollarama.
Offers are being accepted on a rolling basis.
