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$1,155,000
For Sale
859 Trunk Road, Sault Ste Marie, ON P6A 3T3
Sault Ste Marie, ON P6A 3T3
Property Sub Type
Investment
Property Type
Commercial
Property Use
Apartment
Great 1st time apartment investor building. 2 storey frame asset former motel converted into rental apartments. Fully occupied with 10 suites renovated and affordable rental. 17 suites with about $200,000 spent. 7% cap rate on asking price and $67,000 per suite which is way below replacement costs. Baseboard electric heating. Large site with ample parking. Potential to sub meter hydro moving forward. Owner pays cable and internet and this could be reduced on turnover.
