2422 Queen Street East

Overview

2422 Queen Street East presents an opportunity to acquire a character-rich, 24-suite apartment building in one of Toronto's most desirable waterfront neighbourhoods. Prominently situated on a corner lot directly facing Lake Ontario, the property benefits from unobstructed lake views, excellent Queen Street East exposure, and immediate access to the lifestyle amenities that define The Beaches.

This is a rare opportunity to acquire a well-positioned 24-unit multifamily asset in Toronto's Beaches neighbourhood, with a corner-lot orientation directly facing Lake Ontario and frontage on Queen Street East. The property generates stable in-place income with an estimated Year 1 NOI of $251,557 and benefits from recent capital improvements that reduce near-term capital requirements, including a new boiler (2025), code-compliant interior stair railings (2025), and a new backflow preventer valve (2024). Hydro is separately metered, reducing landlord exposure to tenant consumption, and the on-site laundry room provides supplementary ancillary revenue. The location offers walkable amenities, waterfront proximity, parks, trails, public transit, and consistently strong tenant appeal in one of Toronto's most established east-end submarkets.

Investment Highlights

• Corner-lot Beaches multifamily directly facing Lake Ontario
• Estimated Year 1 NOI of $251,557 from stable in-place income
• Recent capital improvements including new boiler (2025) and updated interior stair railings (2025)
• New backflow preventer valve installed (2024)
• Separately metered hydro reduces landlord exposure to tenant consumption
• On-site laundry room provides additional ancillary revenue
• Highly desirable east-end Toronto location with strong walkability and transit access