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    For Sale - 21 & 23 King Street, Cobourg, Ontario

    Est payment $5,282/mo
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    Time on Jump  22 day

    AI Summary *

    • Exceptional downtown investment opportunity with a strong 10.23% cap rate.
    • Spacious 5,760 sq ft with 14 bedrooms across two historic residences.
    • Established income-generating property with options for future redevelopment.
    • Vibrant location near Lake Ontario, shops, restaurants, and parks.
    • Character details like high ceilings, pocket doors, and original staircase.




    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.
    Listing IDX13798450
    Address21 & 23 King Street
    CityCobourg, Ontario
    Price$1,100,000
    Bed / Bath9 / 4 Full
    StyleInvestment
    TypeIndustrial/Commercial
    StatusFor Sale

    Subtype InvestmentHeating / Cooling Gas Forced Air ClosedHeating Fuel GasSewer Sanitary+Storm Available

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    Listing Brokerage: Century 21 United Realty Inc.

    * Data is provided courtesy of PROPTX. The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose. The information is deemed reliable but is not guaranteed accurate by PROPTX.

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    21 & 23 King Street
    Cobourg , Ontario
    9 4 $1,100,000
    Get more info