41-43 King St E, Cobourg, K9A 1K6

Listing Overview

Description

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!

2 months

On Market

Investment

Property Type

$10,957 / Year

Est. Taxes

Apartment

Style

Apts-6 To 12 Units

Business Type

-

Franchise