Multifamily in Sault Ste. Marie available for sale
1

Apartment Building for Sale in Sault Ste. Marie

The max can't be less than the min

Sault Ste. Marie Apartment Building for Sale

More details for 49 Saint Mary's River Dr, Sault Ste. Marie, ON - Multifamily for Sale

49 Saint Mary's River Dr

Sault Ste. Marie, ON P6A 6G9

  • Multifamily for Sale
  • $11,640,000 CAD
  • 102,000 SF
  • 24 Hour Access
  • Controlled Access
  • Kitchen

Sault Ste. Marie Multifamily for Sale

Station 49 Apartments is a 102-suite, purpose-built multifamily asset located at 49 St. Mary’s River Drive in Sault Ste. Marie, Ontario. Offered at $11,640,000 (just $114,117 per unit), this investment presents a compelling opportunity to acquire scale in a stable Northern Ontario rental market with significant embedded upside. The property features a highly efficient unit mix, with 101 one-bedroom suites and 1 two-bedroom suite. It is professionally managed with steady turnover that supports rental growth. The asset generates additional revenue through laundry, parking, and air conditioning rentals, and has implemented cost-saving systems such as individual heating cost controls. With approximately 60% upside to market rents, robust historical turnover averaging 16.9% annually over the last three years, and recent capital improvements, Station 49 Apartments is well-positioned to deliver strong cash flow and long-term value growth for an active investor.

Contact:

Colliers

Property Subtype:

Apartment

Date on Market:

2025-09-09
Hide
See More
1-1 of 1
  2. 1
LoopNet Canada Ontario Apartment Buildings For Sale in Sault Ste. Marie, ON, Canada

Learn More About Investing in Apartment Buildings

More Articles
Understanding Cap Rates in Commercial Real Estate
Understanding Cap Rates in Commercial Real Estate
Calculating and Interpreting Cap Rates for Canadian Investors
Types of Commercial Leases: From Gross to Triple Net
Types of Commercial Leases: From Gross to Triple Net
Understanding the Different Lease Structures for Your Business Space
Commercial Real Estate Investing: Your Path to Market Success
Commercial Real Estate Investing: Your Path to Market Success
Your guide to starting and thriving in Canadian commercial property investments
Apartment Building Investment: A Strategic Market Overview
Apartment Building Investment: A Strategic Market Overview
Essential Insights and Practical Strategies for Building Your Multi-Family Portfolio
How to Rent an Office for Your Business in Canada
How to Rent an Office for Your Business in Canada
Learn About the Costs, Types of Office Spaces, and Key Considerations for Leasing the Ideal Commercial Space
Understanding Common Area Maintenance (CAM) Charges
Understanding Common Area Maintenance (CAM) Charges
Grasping Common Area Maintenance (CAM) Fees for Better Commercial Real Estate Decisions
How to Buy Land: From Raw to Ready for Development
How to Buy Land: From Raw to Ready for Development
Understanding Land Types and Purchase Requirements for Property Investment
REIT Investment Strategies: Building Real Estate Wealth
REIT Investment Strategies: Building Real Estate Wealth
Understanding Investment Trusts and Creating Your Portfolio Strategy

Apartment Buildings for Sale in Sault Ste. Marie

View All Available Listings
How many apartment buildings are available for sale in Sault Ste. Marie?
There are currently 1 apartment buildings available for sale in Sault Ste. Marie, offering a unique opportunity for businesses to establish a presence.
How big are the apartment buildings available for sale in Sault Ste. Marie?
The average size of apartment buildings available for sale in Sault Ste. Marie is about 102,000 SF. The largest apartment buildings available to buy is 102,000 SF and the smallest is 102,000 SF. The size of the space you'll need will depend on a variety of factors including number of employees, amenities required, parking requirements, etc.
Nearby Cities
Other Property Types