49 St. Mary's River Drive

Overview

Station 49 Apartments is a 102-suite, purpose-built multifamily asset located at 49 St. Mary's River Drive in Sault Ste. Marie, Ontario. 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.

Investment Highlights

• Significant rental upside (approx 60%)
• Favourable turnover trends (average 16.9% over the last 3 years)
• Attractive pricing on a per-unit basis
• Supplementary revenue streams through laundry and parking income
• Recent capital improvements - brand new hot water tanks, exterior renovation and more
• In-suite energy controls installed to improve energy efficiency