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21 & 23 King Street E

Cobourg, Cobourg, K9A 1K6

$1,100,000

Photo 1 of 3Photo 2 of 3Photo 3 of 3
  • 9 bedrooms
  • 4 bathrooms

Listed 33 days ago · MLS® X13798450

About this home

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 heat. 2 Gas Hot Water Tanks. Rents are all-inclusive. Income & Expense Statement + Floor Plans available. A rare opportunity combining immediate income, approx. 10.23% 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: $4,626.33/M | $55,515.96/Yr. Net Income: $9,373.67/M | $112,484.04/Yr. Approx. 10.23% CAP RATE at current list price, based on Seller-provided income & expenses. Phase 1 ESA avail. 2 Semi-Det Homes. 2850 approx. Sqft Each.

Details

Type
Investment
Age
100+ years
Lot
40.95 × 165 ft
Garage
None
Kitchens
4
Property tax
$6,916 (2026)
Neighbourhood
Cobourg
Municipality
Cobourg

Interior

Bathrooms
4 × bathroom

Heating, cooling and services

Heating
Gas Forced Air Closed, Gas
Water and sewer
Sanitary+Storm Available
Utilities
Yes

Building and exterior

Age
100+
Building area
5,700 Square Feet

More

Possession
Immediate
Cross street
Division St And King St E

Rooms

RoomLevelSizeFeatures
KitchenMain3.83 × 3.05 m (12'7" × 10')Laminate, W/O To Deck, Eat-in Kitchen
Primary BedroomMain5.26 × 4.67 m (17'3" × 15'4")Hardwood Floor, Pocket Doors, Crown Moulding
Living RoomMain5.91 × 3.88 m (19'5" × 12'9")Hardwood Floor, Separate Room
Dining RoomMain5.26 × 4.67 m (17'3" × 15'4")Hardwood Floor, Formal Rm, Crown Moulding
Family RoomMain5.91 × 3.96 m (19'5" × 13')Hardwood Floor, Pocket Doors

History of this address

4 earlier listings at this address, with sold and leased prices. Create a free account or sign in to see them.

Listed by Century 21 United Realty Inc..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

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