41-43 KING STREET E, Cobourg, Ontario, K9A1K6
A rare Investment opportunity in supreme Location by the beach/lakefront in the heart of Downtown Cobourg, one of Ontario's most sought-after tourist destinations & growing lifestyle communities. 100KM to Toronto. Superior Location for this fully tenanted 9-unit Mixed-Use Brick apartment building Including 1 Commercial Storefront. Step into Great Income. Successful Commercial tenant on a 5-year lease (expires Oct 31, 2030) Attractive Cap Rate. Approx. 7.5% return. Turnkey with Solid tenant base (new great Tenants) with month-to-month residential leases. Updated & Well-Maintained . Financials available. Situated directly on King Street, Cobourg's main commercial strip amidst excellent dining, entertainment, galleries, boutique shopping & professional services. Adjacent to Victoria Park, the Beach, Boardwalk, Marina, Yacht Club, and Heritage Harbour. Farmers Market, Grocer, Skating Rink & Year-round events & tourism attractions. Excellent commuter access: just 2 blocks to VIA Rail & the Highway 401/407 corridor 100 KM to Toronto. With very limited available space left on King Street & new developments under proposal review for infill, this is the perfect timing for an opportunity to invest in a thriving and growing downtown core. Tenants are drawn to the highly walkable area with access to all essential amenities. Don't miss your chance to add this high-performing asset to your portfolio. Newer $25,000 boiler system & hot water tank. Newer A/C Splitter for Retail unit. Painted, Upgraded units. Parking for 6 cars in back. Do not hesitate on this opportunity! Owner pays Water for building + Hydro for Res Tenant. Great new Res. tenants! (id:2471)
RE/MAX Quinte Ltd. Brokerage - Belleville
- 613-827-0736
- 613-969-9907
- sheri@remaxquinte.com
- Property Address: 41-43 KING STREET E, Cobourg, Ontario, K9A1K6
- Community Name: Cobourg
- Property Type: Multi-family
- Zoning Description: Main Commercial
- Lot Size: Bldg=37.99 x 162.36 FT ; 37.33fx 165.62 ft x 37.33 ft x 165.72 ft
- Acreage: Bldg=37.99 x 162.36 FT ; 37.33fx 165.62 ft x 37.33 ft x 165.72 ft
- Sewage Type: Sanitary sewer
- Water Type: Municipal water
- Total Parking Spaces: 6
- Amenities Nearby: Public Transit
- Structure Style: Multi-Family
- Floor Space: 6178 sqft
- Building Age: 51 to 99 years
- Bathrooms: 9-Total
- Heating Type: Natural gas, Hot water radiator heat
- Cooling: Partially air conditioned
Listing Office: CENTURY 21 ALL-PRO REALTY (1993) LTD.
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