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    For Sale - 214 Second Street, Cornwall, Ontario

    Est payment $7,203/mo
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    Views   2
    Time on Jump  18 day

    AI Summary *

    • Historic all-brick apartment building with strong rental demand and income potential.
    • Mix of seven spacious 2-bedroom and one 1-bedroom apartments for diverse tenants.
    • Many units feature private balconies for added outdoor space.
    • Great location near downtown amenities like shopping, parks, and transit.
    • Reliable building systems and strong curb appeal for long-term investment.




    Welcome to the strathcona, a landmark multi-residential investment opportunity with substantial upside located in the vibrant downtown core of cornwall. This impressive 8-unit, all-brick apartment building blends historic charm with dependable income and ample upside potential, making it an attractive addition to any investment portfolio. The property features a desirable unit mix of seven spacious 2-bedroom apartments and one 1-bedroom unit, catering to a broad tenant base. Six of the apartments offer private balconies, providing valuable outdoor living space that helps attract and retain quality tenants. Residents enjoy an exceptional location within walking distance of downtown amenities, including shopping, restaurants, public transit, parks, and cornwall's scenic waterfront. Each unit is equipped with a refrigerator and stove, while a private rear parking area provides added convenience for tenants-an increasingly sought-after feature in the downtown market. Constructed with durable brick exterior walls and heated by a hot water boiler system with in-unit radiators, the property offers reliable performance and classic character. The boiler system was replaced in september 2015, contributing to the building's ongoing maintenance profile. With its strong curb appeal, excellent central location, established rental demand, and upside potential on rental income, the strathcona presents a rare opportunity to acquire a solid apartment building in one of eastern ontario's most desirable markets. Current income/expenses: gross income of $137,862. 84, expenses of $37,661. 03, net operating income of $100,201. 81 (current cap rate of 6. 7%). Potential income/expenses (at market rents): gross income of $176,400, net operating income of $138,738. 97 (potential cap rate of 9. 25%). Assumption based on $1800/unit rent for 2 bedroom, $1450/unit rent for 1 bedroom. Please provide 48h notice for all showing requests.
    Listing IDX13447636
    Address214 Second Street
    CityCornwall, Ontario
    Price$1,500,000
    Bed / Bath15 / 8 Full
    Style3-Storey, Multiplex
    ConstructionBrick
    TypeMulti-Family
    StatusFor Sale

    Subtype MultiplexIndoor Features OtherOwnership FreeholdBasement Apartment, Finished, FullFoundation ConcreteHeating / Cooling RadiantHeating Fuel GasSewer Sewer

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    Listing Agency:  RE/MAX AFFILIATES MARQUIS LTD.

    * 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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    214 Second Street
    Cornwall , Ontario
    15 8 $1,500,000
    Get more info