Commercial Real Estate in Sault Ste. Marie available for sale
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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
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Dormitories for Sale in Sault Ste. Marie

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