3 photos
21 & 23 King Street E, Cobourg, ON K9A 1K6
Cobourg · Cobourg · K9A 1K6
$1,100,000
About this property
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
- Property type
- Investment · Commercial
- Bedrooms
- 9
- Bathrooms
- 4
- Lot
- 40.95 × 165 Feet
- Year built
- 100+
- Heating
- Gas Forced Air Closed · Gas
- Cooling
- No
- Sewer / septic
- Sanitary+Storm Available
- Garage
- None
- Taxes
- $6,916 (2026)
Rooms
| Room | Level | Size | Notes |
|---|---|---|---|
| Kitchen | Main | 12' 7" × 10' | Kitchen |
| Primary Bedroom | Main | 17' 3" × 15' 4" | Primary Bedroom |
| Living Room | Main | 19' 5" × 12' 9" | Living Room |
| Dining Room | Main | 17' 3" × 15' 4" | Dining Room |
| Family Room | Main | 19' 5" × 13' | Family Room |
Location
Approximate location, placed by postal code. Postal code data © GeoNames (CC BY 4.0).
Payments on this home
Estimated monthly payment
$4,871
Principal and interest only, using Canadian semi-annual compounding. Taxes, insurance, and CMHC premiums (required under 20% down) are extra. For planning, not a lending commitment.
Listing courtesy of Century 21 United Realty Inc.. Listing data provided by the originating real estate board via PropTx Amplify Syndication.
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Information is deemed reliable but not guaranteed accurate. Room measurements are deemed reliable but not guaranteed.