From the outside, 118 and 120 Pembroke St. look like just two semi-detached homes. And yet, these conjoined homes are so much more. 

This is actually a fully-tenanted eight-unit apartment building in a prime location in Central Toronto.

A living room in one of the units.

"This is an exceptional opportunity," said listing agent Ian Wilson. 

Another unit with lots of natural light and hardwood floors. 

And we can't help but agree.

Many of the units feature exposed brick walls adding to the charm and character of the building.

This rare opportunity is a blend of stability and future potential that is hard to come by in today's market.

An updated kitchen. 

With over 9,000 square feet of rentable area, this building boasts six two-bedroom units, a one-bedroom unit, and one three-bedroom unit.

An updated bathroom. 

Many of the units have also been updated, shares Wilson.

A living room and dining room. 

But, as Wilson points out, one of the most enticing features of this property is the assumable Canada Mortgage and Housing Corporation mortgage at just 2.15 per cent, maturing in early 2031.

A bedroom with a fireplace. 

This favourable financing option sets the stage for a solid investment with attractive returns.

Another unit. 

In fact, Wilson told blogTO that the mortgage offers investors a leveraged cap rate of nine per cent, which, if you know anything about cap rates, is incredible. 

The back of the house with parking. 

Some other things that make this building a pretty solid investment are the fact that there are two surface parking spots, onsite coin-operated laundry, and lockers for each unit, adding to the convenience and comfort of the residents.

Another bedroom in a unit. 

Each unit is separately metered for hydro, providing a sense of autonomy and control over utility costs.

One of the smaller apartments. 

Wilson also points out that this building has achieved ultra-low vacancy rates, which is really a testament to its desirability and stability in this bonkers rental market.

Some of the units also have balconies. 

For savvy investors looking to diversify their portfolio or enter the lucrative real estate market in Toronto, it doesn't really get better than this.

Another kitchen. 

With its solid rental history and potential for future growth, this eight-unit apartment building seems like a no-brainer.

The front of the houses. 

118-120 Pembroke St. is listed for $4,499,900.