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:51158)
| Business Type | Residential |
| Business Sub Type | Apartments |
| MLS® Number | X12455354 |
| Property Type | Multi-family |
| Community Name | Cobourg |
| Amenities Near By | Public Transit |
| Parking Space Total | 6 |
| Bathroom Total | 9 |
| Age | 51 To 99 Years |
| Cooling Type | Partially Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Hot Water Radiator Heat |
| Size Exterior | 6178.48 Sqft |
| Size Interior | 6,178 Ft2 |
| Type | Multi-family |
| Utility Water | Municipal Water |
| Acreage | No |
| Land Amenities | Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 162 Ft ,4 In |
| Size Frontage | 37 Ft ,11 In |
| Size Irregular | Bldg=37.99 X 162.36 Ft ; 37.33fx 165.62 Ft X 37.33 Ft X 165.72 Ft |
| Size Total Text | Bldg=37.99 X 162.36 Ft ; 37.33fx 165.62 Ft X 37.33 Ft X 165.72 Ft |
| Zoning Description | Main Commercial |
https://www.realtor.ca/real-estate/28974014/41-43-king-street-e-cobourg-cobourg
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