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About the Listing 231100 -
Legal 4-plex with additional income space under C1RM1 zoning offering residential cash flow today and commercial flexibility for the future. This income property currently generates approximately $84K in annual gross rental income. Based on historical operating expenses, the property reflects an estimated stabilized NOI of approximately $51K, providing investors with an attractive ~6%+ cap rate at the current asking price. Opportunities offering 6%+ cap rates in the Cambridge core are increasingly limited.The building benefits from established tenancies providing stable rental income, along with an additional income-generating office space (buyer to verify permitted use) and two on-site storage units. The property features eight on-site parking spaces in a paved parking lot and an unfinished basement equipped with a sprinkler system. Utilities are partially separated with individually metered electrical service, with two units currently paying their own hydro, helping reduce operating expenses.Zoned F(C1RM1) Commercial Residential Mixed Use, permitting a wide range of residential and commercial uses within Cambridge's intensification framework and supporting potential future redevelopment or mixed-use opportunities.Located near Downtown Cambridge amenities, transit, restaurants, shops and the Grand River, providing a desirable rental location with strong tenant demand.Financial information is based on the current rent roll (Jan - Mar 2026) and historical operating expenses (primarily 2024 actuals). Investor financial package available including T12 income statement, rent roll and zoning summary. Buyers to conduct their own due diligence and verify all financial information, expenses, zoning and permitted uses.Some interior photos were taken within the past three years prior to current tenant occupancy.
Interior Details
- Bedrooms: 6
- Bathrooms: 5 Full
- Appliances:
- Air Cond:
- Heating: Gas
- Fireplaces:
- Floor:
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement: Unfinished
- Other: Carpet Free,Separate Hydro Meter,Storage Area Lockers,Sump Pump,Water Softener,4 Kitchens
- Water:
Exterior Details
- Garage Capacity: N/A
- Roof: Asphalt Shingle
- Others: Deck,Lighting,Paved Yard,Privacy,Hospital,Library,Place Of Worship,Public Transit,River/Stream,School
- Sewer: Sewer
- Parking Features: Available,No Garage
Financial Details
- Tax Amount: $5,761
- Taxes w/Assessments: N/A
- Tax/Property ID: 038150039
- Tax Year: 2025
Payment Calculator
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115 Ainslie St N Cambridge, ON N1R 3P2
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