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Ishwar Garg

ishwar@416homefinder.com +1(416) 705-4505

Listed by Ryan Moore • KELLER WILLIAMS INNOVATION REALTY

$ 4,950,000

Est. payment -/mo

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1123 Queenston Road Cambridge, ON N3H 3L1

24 Beds

20 Baths

13,600 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi Family

Listing Status Active

Purchase Type For Sale

Square Footage 13,600 sqft

Price per Sqft $363

MLS Listing ID 40745637

Bedrooms 24

Abv Grd Liv Area 13,600

Annual Tax Amount $42,572

Lot Size 0.440 Acres

Acres 0.44

Property Sub-Type Multi Family

Source 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.

Location

State ON

County Waterloo

Area 15 - Preston

Zoning M1

Direction King Street East to Dolph Street.

Rooms

Basement Partial, Partially Finished

Kitchen 0

Interior

Interior Features Separate Hydro Meters

Heating Baseboard

Cooling Wall Unit(s)

Fireplace No

Appliance Refrigerator, Stove

Laundry Coin Operated, Common Area

Exterior

Parking Features Asphalt

Roof Type Asphalt Shing

Lot Frontage 105.33

Garage No

Building

Lot Description City Lot, Highway Access, Hospital, Open Spaces, Park, Playground Nearby, Public Parking, Regional Mall, Schools

Faces King Street East to Dolph Street.

Story 3

Foundation Block

Sewer Sewer (Municipal)

Water Municipal

Structure Type Vinyl Siding

New Construction No

Others

Senior Community No

Tax ID 226480040

Ownership Freehold/None

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Ishwar Garg

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+1(416) 705-4505

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Ishwar Garg

1123 Queenston Road Cambridge, ON N3H 3L1

Key Details

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Rooms

Interior

Exterior

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1123 Queenston Road