115 Ainslie Street N Cambridge, Ontario N1R 3P2
$824,900
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. (id:49269)
Property Details
| MLS® Number | X12878092 |
| Property Type | Multi-family |
| AmenitiesNearBy | Hospital, Place Of Worship, Public Transit, Schools |
| EquipmentType | Water Heater - Gas, Water Heater, Water Softener |
| Features | Irregular Lot Size, Lighting, Level, Paved Yard, Carpet Free, Sump Pump |
| ParkingSpaceTotal | 8 |
| RentalEquipmentType | Water Heater - Gas, Water Heater, Water Softener |
| Structure | Deck, Shed, Workshop |
Building
| BathroomTotal | 5 |
| BedroomsAboveGround | 6 |
| BedroomsTotal | 6 |
| Amenities | Separate Electricity Meters |
| Appliances | Water Softener, Dryer, Stove, Washer, Window Coverings, Refrigerator |
| BasementDevelopment | Unfinished |
| BasementType | N/a (unfinished) |
| CoolingType | None |
| ExteriorFinish | Brick, Vinyl Siding |
| FireProtection | Smoke Detectors |
| FlooringType | Laminate, Vinyl |
| FoundationType | Concrete, Stone |
| HeatingFuel | Natural Gas |
| HeatingType | Radiant Heat |
| StoriesTotal | 2 |
| SizeInterior | 2500 - 3000 Sqft |
| Type | Fourplex |
| UtilityWater | Municipal Water |
Parking
| No Garage |
Land
| Acreage | No |
| FenceType | Fully Fenced |
| LandAmenities | Hospital, Place Of Worship, Public Transit, Schools |
| Sewer | Sanitary Sewer |
| SizeDepth | 146 Ft ,3 In |
| SizeFrontage | 27 Ft |
| SizeIrregular | 27 X 146.3 Ft |
| SizeTotalText | 27 X 146.3 Ft|under 1/2 Acre |
| SurfaceWater | River/stream |
| ZoningDescription | F(c1rm1) Commercial Residential Mixed Use |
Rooms
| Level | Type | Length | Width | Dimensions |
|---|---|---|---|---|
| Second Level | Living Room | 3.38 m | 4.19 m | 3.38 m x 4.19 m |
| Second Level | Living Room | 3.38 m | 4.19 m | 3.38 m x 4.19 m |
| Second Level | Kitchen | 3.17 m | 1.83 m | 3.17 m x 1.83 m |
| Second Level | Living Room | 3.86 m | 4.52 m | 3.86 m x 4.52 m |
| Second Level | Bedroom | 2.44 m | 2.77 m | 2.44 m x 2.77 m |
| Second Level | Bathroom | 3.17 m | 1.52 m | 3.17 m x 1.52 m |
| Second Level | Kitchen | 2.82 m | 4.04 m | 2.82 m x 4.04 m |
| Second Level | Bedroom | 3.28 m | 3.17 m | 3.28 m x 3.17 m |
| Second Level | Bedroom 2 | 2.74 m | 3.35 m | 2.74 m x 3.35 m |
| Main Level | Kitchen | 3.35 m | 2.9 m | 3.35 m x 2.9 m |
| Main Level | Office | 2.84 m | 3.45 m | 2.84 m x 3.45 m |
| Main Level | Bedroom | 3.35 m | 3.63 m | 3.35 m x 3.63 m |
| Main Level | Bathroom | 1.85 m | 1.52 m | 1.85 m x 1.52 m |
| Main Level | Kitchen | 3.33 m | 2.51 m | 3.33 m x 2.51 m |
| Main Level | Living Room | 3.33 m | 3.28 m | 3.33 m x 3.28 m |
| Main Level | Bathroom | 2.26 m | 1.52 m | 2.26 m x 1.52 m |
| Main Level | Bedroom | 2.79 m | 3.38 m | 2.79 m x 3.38 m |
https://www.realtor.ca/real-estate/29465075/115-ainslie-street-n-cambridge
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March 13 2026 02:12:57
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