1123 Queenston Road Cambridge, Ontario N3H 3L1
$4,950,000
*****Exceptional 20-Unit Apartment Building in Prime Preston Location *****Assumable low cost Financing & Strong Upside **** Take advantage of a rare low-cost, assumable mortgage of $2,759,890 at a 4.00% interest rate with a 10-year term and 40-year amortization. This financing structure provides optimized cash flow and reduced financing costs, enhancing returns from day one. This well-maintained 20-unit apartment building offers an unbeatable investment opportunity; Featuring a desirable unit mix of 16 one-bedroom and 4 two-bedroom apartments, the property boasts bright and spacious suites. The building is set up for easy management with an abundance of on-site surface parking—more than enough for every unit—and strong curb appeal. Investors will appreciate the immediate upside potential: several units are currently vacant and ready to be leased at market rents, providing a clear and achievable path to increasing net operating income and significant lift in value. With strong rental demand in the area and limited multi-family supply, this property is ideally positioned for cash flow and long-term appreciation. Centrally located in the heart of Preston, residents enjoy walking access to local amenities including restaurants, retail shops, transit ( 100 feet from the property) , and city parks. Whether you're a seasoned investor looking to expand your portfolio or a strategic buyer seeking stable multifamily income with natural upside in value , this property delivers on all fronts. Don't miss your chance to acquire a rare, scalable asset in a proven rental location. (id:37788)
Property Details
| MLS® Number | 40745637 |
| Property Type | Multi-family |
| Amenities Near By | Hospital, Park, Playground, Schools |
| Equipment Type | Other, Water Heater |
| Features | Paved Driveway, Laundry- Coin Operated |
| Parking Space Total | 22 |
| Rental Equipment Type | Other, Water Heater |
Building
| Bathroom Total | 20 |
| Bedrooms Total | 24 |
| Basement Development | Partially Finished |
| Basement Type | Partial (partially Finished) |
| Cooling Type | Wall Unit |
| Exterior Finish | Vinyl Siding |
| Heating Type | Baseboard Heaters |
| Stories Total | 3 |
| Size Interior | 13600 Sqft |
| Utility Water | Municipal Water |
Land
| Access Type | Highway Access |
| Acreage | No |
| Land Amenities | Hospital, Park, Playground, Schools |
| Sewer | Municipal Sewage System |
| Size Frontage | 105 Ft |
| Size Irregular | 0.44 |
| Size Total | 0.44 Ac|under 1/2 Acre |
| Size Total Text | 0.44 Ac|under 1/2 Acre |
| Zoning Description | M1 |
https://www.realtor.ca/real-estate/28574518/1123-queenston-road-cambridge
640 Riverbend Dr.
Kitchener, Ontario N2K 3S2
(519) 570-4447
https://kwinnovationrealty.com/
640 Riverbend Drive, Unit B
Kitchener, Ontario N2K 3S2
(519) 570-4447
www.kwinnovationrealty.com/
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July 08 2025 05:45:24
Kitchener-Waterloo Association of REALTORS®
Keller Williams Innovation Realty