Excellent investment opportunity at 32 Wallace Terrace! This fully tenanted duplex offers an impressive 11.39% cap rate, with additional income potential through the creation of a third unit. Legally zoned for a triplex, the property currently features one two-bedroom unit and one one-bedroom unit, while the upper level is ready to be renovated into an additional unit. Most of the materials required to complete the renovation are included with the sale. Tenants pay their own PUC utilities, helping to keep operating costs low. Additional highlights include a durable metal roof and a garage offering valuable storage space. A fantastic opportunity for investors looking for immediate rental income with room to grow!
Key Facts:
Tax:
$2,552 / 2026
Property Type:
Multiplex
Lot Size:
42 x 126 feet
Lot Irregularities:
LT 64 PL 1749 KORAH AS AMENDED BY T66031; PT LANE PL 1749 KORAH CLOSED BY T149739 PT 5 1R2070; S/T
Parking:
2 spaces
Basement:
Full
Listing #:
X13888252
Days on Site:
42 days
Status Change:
40 days ago
Added to CiRealty:
2026-09-23
Updated on:
2026-09-24
Market Demand:
Buyer’s Market
Balanced
Seller’s Market
Property Details
Property details for 32 Wallace Terr, Sault Ste Marie. Listed for $209,900 on 2026-09-23
Property
Property Type:
Multiplex
Style:
Other
Community:
Ward 4
Municipality:
Sault Ste Marie
Utilities
Water:
Municipal
Cooling:
Other
Heating Type:
Forced Air
Building
Construction:
Alum Siding
Parking
Garage Type:
None
Driveway:
Other
Driveway Spaces:
2
Total Parking Spaces:
2
Land
Sewer:
Sewers
Frontage:
42 feet
Depth:
126 feet
Property
Property Type:
Multiplex
Style:
Other
Community:
Ward 4
Municipality:
Sault Ste Marie
Building
Construction:
Alum Siding
Parking
Garage Type:
None
Driveway:
Other
Driveway Spaces:
2
Total Parking Spaces:
2
Land
Sewer:
Sewers
Frontage:
42 feet
Depth:
126 feet
Utilities
Water:
Municipal
Cooling:
Other
Heating Type:
Forced Air
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