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MLS® X13798450
Cobourg, ON
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.
Inclusions
2 Forced-Air Gas Furnaces. 2 Natural Gas Hot Water Tank/Heaters. All ELF, Existing Appliances "as is", 2 F.A.G Furnaces, 2 Hwt Tanks, Window Coverings
Exclusions
All Tenant Belongings
Broker
Century 21 United Realty Inc.
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Investment
21 & 23 King Street E Cobourg
Cobourg
Built
100+
Type
Investment
Parking
None
Property Tax
~$6,916/yr
Heating
Gas Forced Air Closed
Buying Essentials
Square Feet
5700 sqft
Parking
None
Finances
List Price
$1,100,000
Price per SQFT
$193/sqft
Property Tax
~$6,916/yr
Property Specs
Property Type
Investment
MLS Size
5700 sqft
Age of Building
100+
Living & Amenities
Heating Type
Gas Forced Air Closed
Policies & Utilities
Neighbourhood
Cobourg
Listed On
Sep 17, 2026
Days on Market
Current: 51 days
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