ON
Cobourg
K9A 1K6
21 & 23 King Street
21 & 23 King Street, Cobourg, ON K9A 1K6
Share Listing
Listing Type
Other
Listing Status
Active
3
$1,100,000

Home Details for 21 & 23 King Street

Price
$1,100,000
Type
Business Opportunity
Bedrooms
9
Total Bathrooms
4
Square feet
5700
Listing #
X13798450
Property Description

10.23% CAP RATE. EXCEPTIONAL DOWNTOWN INVESTMENT OPPORTUNITY! 5,760 Sq Ft Brick, 14-bedroom 4 Kitchen 4 Bath Boarding/Rooming House configured across 2 substantial semi-detached Historic Residences in a sought-after Lake Ontario heritage downtown. A compelling income property offering investors strong cash flow today PLUS intriguing future potential. Continue the established income-producing use or explore opportunities to revamp and reposition these 2 historic residences. Potential concepts may include a boutique hotel/inn, mixed-use commercial/residential, live/work spaces, private residence townhomes or traditional rental units (subject to zoning, municipal & other required approvals.) The property zoning is MC with Exception & benefits from a legally protected non-conforming status related to its historic use, offering Buyers the option to investigate future possibilities for commercial &/or residential use - or simply continue the existing use. Superb LOCATION!!! Situated in a vibrant historic tourist & destination downtown on the shores of Lake Ontario, close to the Beach, Waterfront, Marina, Parks, Boardwalk, shops, restaurants & amenities. Character details throughout. Orig Banister Staircase, Wood Flooring, High Ceilings, Pocket Doors, Crown Molding, Covered front Porch. Approx. 100 km from Toronto with VIA Rail service in town & Hwy 401 nearby. 2 Furnaces with Gas-fired boiler heat. Tenant rents currently all-inclusive. Income & Expense Statement + Floor Plans available. A rare opportunity combining immediate income, approx. 10.5% cap rate, 5,760 Sq Ft, established legal use & future repositioning potential in an exceptional downtown location 100KM to Toronto and steps to the lakefront. Gross Income: $14,000/M | $168,000/Yr. Expenses: $4,313.42/M | $55,361/Yr. Net Income: $9,686.58/M | $116,238.96/Yr. Approx. 10.23% CAP RATE at current list price, based on Seller-provided income & expenses. Phase 1 ESA available for review. 2 Brick Homes 2850 Sqft Each. (id:31684)

Property Features
  • Heating Information
    • Forced Air
    • Natural Gas
  • Cooling Information
    • None
  • Water Features
    • Public
Listing Courtesy: Century 21 United Realty Inc.
Canadian Real Estate Association logoThe trademarks REALTOR®, REALTORS® and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by and identify the quality of services provided by REALTORS®. Used under license. This information contained on this site is based in whole or in part on listing content from The Canadian Real Estate Association, which assumes no responsibility for its accuracy. This listing content provided by REALTOR.ca has been licensed by REALTOR® members of The Canadian Real Estate Association
Transportation
Check the walk, transit, and bike score for
Neighborhood Market Statistics
See average values in the proximity of this property
Median Listing Price
Median Days on Site
Median Square Feet
Market statistics compiled from data from Canadian Real Estate Association.
EXIT REALTY LIFTLOCK, BROKERAGE
850 Lansdowne St. W, Peterborough, ON K9J 1Z6
Office
705 749 3948
Request more details
Code: