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. Originally constructed in 1930, the building offers a unique blend of historic charm, functional rental housing, and irreplaceable location fundamentals. The Property features a classic vintage exterior and well-preserved interior character, including solid wood staircases, vintage lighting fixtures, and solid wood suite doors. The suite mix consists of 2 bachelor units, 6 junior one-bedroom units, and 16 one-bedroom units, providing an efficient collection of smaller-format rental suites that are well-suited to the area’s tenant demand. The Property also benefits from several operational and physical advantages, including separately metered hydro, on-site laundry income, and recent capital improvements. Notable upgrades include a new boiler installed in 2025, interior stair railing replacement completed in 2025 to meet current code height requirements, and a new Watt 909 valve for the backflow preventer completed in 2024.