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$ 4,950,000
Est. payment | /mo
24 Beds
20 Baths
13,600 SqFt
$ 4,950,000
Est. payment | /mo
24 Beds
20 Baths
13,600 SqFt
Key Details
Property Type Multi-Family
Sub Type Freehold
Listing Status Active
Purchase Type For Sale
Square Footage 13,600 sqft
Price per Sqft $363
Subdivision 53 - Preston South
MLS® Listing ID 40745637
Bedrooms 24
Lot Size 0.440 Acres
Acres 0.44
Property Sub-Type Freehold
Source Cornerstone - Waterloo Region
Property Description
*****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:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Baseboard heaters
Cooling Wall unit
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 22
Private Pool No
Building
Story 3
Sewer Municipal sewage system
Others
Ownership Freehold
Virtual Tour https://youriguide.com/1123_queenston_road_cambridge_on/
Listed by KELLER WILLIAMS INNOVATION REALTY