*****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:23309)
Schedule a Tour
Schedule Private Tour
Karen Dwyer Reid would happily provide a private viewing if you would like to schedule a tour.
Match your Lifestyle with your Home
Contact Karen Dwyer Reid, who specializes in Cambridge real estate, on how to match your lifestyle with your ideal home.
Get Started Now
Lifestyle Matchmaker
Let Karen Dwyer Reid find a property to match your lifestyle.
Rooms
| Level | Type | Dimensions |
|---|
Details
- Amenities Nearby: Hospital, Park, Playground, Schools
- Equipment: Other, Water Heater
- Features: Paved driveway, Laundry- Coin operated
- Ownership: Freehold
- Parking Spaces: 22
- Rental Equipment: Other, Water Heater
- Transaction: For sale
- Zoning Description: M1
Building
- BasementType: Partial (Partially finished)
- Basement Development: Partially finished
- Cooling: Wall unit
- Exterior Finish: Vinyl siding
- Fireplace Present: False
- Bathrooms (Total): 20
- Heating: Baseboard heaters
- Size Interior: 13600 sqft
- Stories Total: 3
- Utility Water: Municipal water
Land
- Access Type: Highway access
- 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
Listing provided by KELLER WILLIAMS INNOVATION REALTY
MLS®, REALTOR®, and the associated logos are trademarks of the Canadian Real Estate Association.
This REALTOR.ca listing content is owned and licensed by REALTOR® members of the Canadian Real Estate Association. This property for sale is located at 1123 QUEENSTON Road in Cambridge Ontario. It was last modified on July 8th, 2025. Contact Karen Dwyer Reid to schedule a viewing or to discover other Cambridge real estate for sale.