*****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.
For sale
C$4,950,000
1123 Queenston Rd, Cambridge, ON N3H 3L1
24beds
20baths
13,600sqft
Multi Family
Built in ----
-- sqft lot
$-- Zestimate®
C$364/sqft
C$-- HOA
What's special
Bright and spacious suitesStrong curb appeal
- 27 days
- on Zillow |
- 38 |
- 0 |
Zillow last checked: 7 hours ago
Listing updated: July 22, 2025 at 12:56pm
Listed by:
Ryan Moore, Salesperson,
KELLER WILLIAMS INNOVATION REALTY,
Mila Kolovic, Salesperson,
KELLER WILLIAMS INNOVATION REALTY
Source: ITSO,MLS®#: 40745637Originating MLS®#: Waterloo Region Association of REALTORS® (WRAR)
Travel times
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 24
- Bathrooms: 20
Heating
- Baseboard
Cooling
- Wall Unit(s)
Appliances
- Included: Refrigerator, Stove
- Laundry: Coin Operated, Common Area
Features
- Separate Hydro Meters
- Basement: Partial,Partially Finished
- Has fireplace: No
Interior area
- Total structure area: 13,600
- Total interior livable area: 13,600 sqft
- Finished area above ground: 13,600
Video & virtual tour
Property
Parking
- Total spaces: 22
- Parking features: Asphalt, Outside/Surface/Open
- Uncovered spaces: 22
Features
- Frontage length: 105.33
Lot
- Size: 0.44 Acres
- Dimensions: 105.33 x
- Features: City Lot, Highway Access, Hospital, Open Spaces, Park, Playground Nearby, Public Parking, Regional Mall, Schools
Details
- Parcel number: 226480040
- Zoning: M1
- Other equipment: Intercom
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Vinyl Siding
- Foundation: Block
- Roof: Asphalt Shing
Condition
- 100+ Years
- New construction: No
Utilities & green energy
- Sewer: Sewer (Municipal)
- Water: Municipal
Community & HOA
Location
- Region: Cambridge
Financial & listing details
- Price per square foot: C$364/sqft
- Annual tax amount: C$42,572
- Date on market: 7/8/2025
- Inclusions: Other, Fridge X 20, Stove X 20, " As-Is, Where-Is "
- Exclusions: Tenants Belongings & Tools In The Shop
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