50 Ontario ST
Thunder Bay, Ontario
- Multi-family
Solid 5-unit income property in a proven rental location. The building contains a desirable unit mix of one 3-bedroom apartment, one 2-bedroom apartment, and three 1-bedroom apartments. This property has a long track record of steady cash flow and has historically leased quickly during vacancies. Units are in good overall condition with a combination of cosmetic updates throughout, including some refinished hardwood floors and newer laminate flooring. Major capital items include five separate hydro meters, updated electrical with individual breaker panels for each unit, copper plumbing, shingles replaced in 2012, and an updated boiler. A digital thermostat allows remote control of the heating system. Additional features include a detached two-car block garage. Tenants pay their own hydro, while the landlord covers water and gas. Excellent opportunity for investors seeking a well-maintained, low-turnover multi-residential asset.
Price History
Schools
Elementary
- Corpus Christi Catholic Elementary School0.9 km
Catholic · Thunder Bay CDSB · 265 students
Grade 3 reading: 65% met the provincial standard · Grade 6 math: 66% met the provincial standard
- Ecole Gron Morgan Public School1 km
Public · Lakehead DSB · 770 students
Grade 3 reading: 77% met the provincial standard · Grade 6 math: 58% met the provincial standard
- École catholique de La Vérendrye1.4 km
French Catholic · CSDC des Aurores boréales · 90 students
Secondary
- École secondaire catholique de La Vérendrye1.5 km
French Catholic · CSDC des Aurores boréales · 135 students
Grade 10 literacy: 90% met the provincial standard
- Hammarskjold High School1.8 km
Public · Lakehead DSB · 960 students
Grade 10 literacy: 88% met the provincial standard
- Superior Collegiate and Vocational Institute2 km
Public · Lakehead DSB · 685 students
Grade 10 literacy: 76% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
Community
Postal area P7B
- Population
- 22,675
- Private dwellings
- 11,110
- Median age
- 40.8
- Average household size
- 2.2
- Median household income
- $70,000
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Multi-family in Thunder Bay · last 12 months
- Median sold price
- $415,000
- Homes sold
- 281
- Median days on market
- 14
- Sale-to-list price
- 107.2%
Based on 281 recorded sales of multi-family properties in Thunder Bay over the last 12 months.
Walk Score
Walk Score is unavailable for this address right now.
Location
Street View
Mortgage Calculator
$143,980
Estimated Monthly Payment
$3,537
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $3,537/mo (20% down, 5.5%)
Taxes: $0/mo · Insurance: $180/mo
Estimates only. Consult a financial advisor.
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