Pearl Street Apartments

Property Details

Pearl Street Apartments

Property Description

38–52 Pearl Street is a 23-unit, three-storey low-rise multi-residential building located in Greater Sudbury.

The suite mix includes 3 bachelor units, 13 one-bedroom units, and 7 two-bedroom units. Amenities include a secure entrance vestibule, shared laundry facilities, and surface parking.

The property sits on approximately 0.45 acres (19,773 square feet) with 249 feet of frontage along Pearl Street and is fully serviced with municipal utilities.

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Property Overview

Market Analysis

Greater Sudbury is the largest city in Northern Ontario and serves as a regional centre for employment, healthcare, and education.

According to CMHC data, vacancy rates in the Sudbury market were approximately 1.5% overall as of Fall 2024. Average rents have shown year-over-year increases across unit types.

Multi-residential assets in the Sudbury market have transacted within capitalization rates ranging from approximately 5.04% to 7.41% between January 2024 and September 2025, reflecting continued investor activity in the asset class.

Neighbourhood/Location

The property is located near the intersection of Elm Street and Notre Dame Avenue in a well-established residential area near downtown Greater Sudbury. The surrounding neighbourhood consists primarily of residential uses and is fully serviced with municipal infrastructure. The property benefits from proximity to public transit, parks, schools, and commercial amenities, contributing to its accessibility and rental appeal.

Property Management

Virtus Asset Management

Property Location

38-52 Pearl Street | Sudbury, ON

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Virtus Diversified REIT offers a unique investment strategy focused on real estate diversification, cash flow, and high quality tenants.

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Property Details