P6B Apartment Buildings for Sale

Apartment Buildings for Sale Within 5 kilometers of P6B

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.