$1,745,000

Don't miss your chance to add this high-performing asset to your portfolio. 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. This is a fantastic income asset. A turnkey Investment opportunity in supreme Location by the beach/lakefront. Invest 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 with 1 Unit a 2000 sq ft Commercial Storefront. Very Successful Commercial business occupies the space on a 5-year lease(expires Oct 31, 2030) Attractive Cap Rate. Approx. 7.5% return. Solid tenant base (new great Tenants)with month-to-month residential leases. Updated & Well-Maintained. Situated directly on King Street E, 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. Newer$25,000 boiler system & hot water tank. Newer A/C Splitter for Retail unit. Newer flooring, Paint, &Upgraded units. Parking for 6 cars in back. Financials, Upgrades available. Do not hesitate on this opportunity! Owner pays Water for building + Hydro for Res Tenant. Great new Res. tenants!! (id:64343)

Business

Business Type	Residential
Business Sub Type	Apartments

Property Details

MLS® Number	X13076922
Property Type	Multi-family
Community Name	Cobourg
Amenities Near By	Public Transit
Parking Space Total	6

Building

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

Land

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/29693838/41-43-king-street-e-cobourg-cobourg