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North Shore Living 45 Murray St 27 Unit Apartment Building $2,853,088 USD ($105,670 USD/Unit) Blind River, ON P0R 1B0
Executive Summary
This well-maintained 26-unit apartment complex features 20 spacious two-bedroom suites and 6 one-bedroom suites, originally designed with seniors in mind and offering generous layouts. Each above-grade unit includes a private balcony, with south-facing suites enjoying beautiful views of Lake Huron sunsets. A common room is available for tenant gatherings and special occasions, enhancing the sense of community. The property boasts an excellent rental history with a waiting list. Conveniently located in Blind River, midway between Sault Ste. Marie and Sudbury along the Trans-Canada Highway. The building is within walking distance to grocery stores and the business district. Adding further value, the property includes a detached three-bedroom rental home and a paved parking lot. Carefully maintained by the same owner since construction, this asset is in excellent condition. The complex presents an exceptional investment opportunity, combining a strong tenant base, reliable income, and clear potential for rental growth in a sought-after Northern Ontario market.
Financial Summary (Actual - 2024) |
Annual (USD) | Annual Per SF (USD) |
|---|---|---|
| Gross Rental Income |
$241,787
|
$8.57
|
| Other Income |
$4,636
|
$0.16
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$246,423
|
$8.74
|
| Taxes |
$16,770
|
$0.59
|
| Operating Expenses |
$58,251
|
$2.07
|
| Total Expenses |
$75,021
|
$2.66
|
| Net Operating Income |
$171,402
|
$6.08
|
Financial Summary (Actual - 2024)
| Gross Rental Income (USD) | |
|---|---|
| Annual | $241,787 |
| Annual Per SF | $8.57 |
| Other Income (USD) | |
|---|---|
| Annual | $4,636 |
| Annual Per SF | $0.16 |
| Vacancy Loss (USD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (USD) | |
|---|---|
| Annual | $246,423 |
| Annual Per SF | $8.74 |
| Taxes (USD) | |
|---|---|
| Annual | $16,770 |
| Annual Per SF | $0.59 |
| Operating Expenses (USD) | |
|---|---|
| Annual | $58,251 |
| Annual Per SF | $2.07 |
| Total Expenses (USD) | |
|---|---|
| Annual | $75,021 |
| Annual Per SF | $2.66 |
| Net Operating Income (USD) | |
|---|---|
| Annual | $171,402 |
| Annual Per SF | $6.08 |
Property Facts
| Price | $2,853,088 USD | Building Class | C |
| Price Per Unit | $105,670 USD | Lot Size | 1.37 AC |
| Sale Type | Investment | Building Size | 28,200 SF |
| No. Units | 27 | Average Occupancy | 100% |
| Property Type | Multifamily | No. Stories | 3 |
| Property Subtype | Apartment | Year Built | 1996 |
| Apartment Style | Low-Rise | ||
| Zoning | RM3 | ||
| Price | $2,853,088 USD |
| Price Per Unit | $105,670 USD |
| Sale Type | Investment |
| No. Units | 27 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.37 AC |
| Building Size | 28,200 SF |
| Average Occupancy | 100% |
| No. Stories | 3 |
| Year Built | 1996 |
| Zoning | RM3 |
Amenities
Unit Amenities
- Air Conditioning
- Heating
- Kitchen
- Refrigerator
- Oven
- Range
- Tub/Shower
Site Amenities
- Controlled Access
- Tenant Controlled HVAC
- Recycling
- Smoke Free
- Elevator
- Lounge
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+1 | 20 | - | - |
| 3+1 | 1 | - | - |
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North Shore Living | 45 Murray St
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