39 KING STREET W, Cobourg, ON K9A2M1
39 KING STREET W, Cobourg, ON K9A2M1
39 KING STREET W, Cobourg, ON K9A2M1
39 KING STREET W, Cobourg, ON K9A2M1
39 KING STREET W, Cobourg, ON K9A2M1
39 KING STREET W, Cobourg, ON K9A2M1
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Deanna Jones

Deanna Jones

+1(250) 486-1889
$ 1,299,000
Est. payment | /mo

5 Baths

4,390 SqFt

Save Virtual Tour
$ 1,299,000
Est. payment | /mo
Save Virtual Tour

5 Baths

4,390 SqFt

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Approx. Sqft 4390

Square Footage 4,390 sqft

Price per Sqft $295

Subdivision Cobourg

MLS® Listing ID X12641452

Property Description

FULLY OCCUPIED DOWNTOWN COBOURG INVESTMENT generating $93,600 in annual gross income. This well-maintained 4,390 sq. ft. mixed-use freehold combines a prominent King Street retail storefront with three residential apartments, offering diversified income from four tenancies. Approximate NOI of $71,974 based on supplied operating expenses represents an approximate 5.54% cap rate at the asking price.The main-floor commercial tenant occupies approximately 1,161 sq. ft. plus a similarly sized lower level and is in the second year of a three-year lease commencing March 1, 2025. The bright storefront features large display windows, high ceilings, flexible retail space and roughed-in plumbing for salon or esthetic uses. The walkout lower level provides an office, storage, laundry hookups and a 2-piece bath.Three separately metered apartments occupy approximately 2,054 sq. ft. across the upper floors and have a private entrance independent of the commercial premises. Two residential leases extend to January 31, 2028, while the third tenancy is month-to-month. Tenants pay their own hydro.Investor-friendly improvements include a newer membrane roof and residential furnace, 2024 fire retrofit and separate furnaces. Four entrances, three rear parking spaces and walkout access support convenient tenant operations. Potential also exists for a rear patio or future expansion, subject to approvals. Located in Cobourg's historic downtown near Victoria Hall, shopping, dining, VIA Rail, the marina and Lake Ontario. A stabilized, easily managed asset combining immediate income, established tenancy and long-term downtown value. Turnkey Income. Cap Rate: 5.5% approx. at full list price. A rare chance to acquire a hands-off, stabilized asset in a destination market with strong fundamentals, consistent rental demand, and upside through future growth-all within a manageable drive or train ride from Toronto. (id:24570)

Location

Province ON

Rooms

Kitchen 0.0

Interior

Heating Forced air

Cooling Fully air conditioned

Exterior

Parking Features No

View Y/N No

Attached Garage No

Total Parking Spaces 3

Garage No

Private Pool No

Others

Virtual Tour https://listings.insideoutmedia.ca/sites/39-king-st-w-cobourg-k9a-2m1-12802454/branded

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Listed by Century 21 United Realty Inc.

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Deanna Jones

"After more than a decade of helping people buy and sell homes throughout the Okanagan, from Osoyoos to the Shuswap, I understand that every move is personal. Whether you are buying, selling, or simply exploring your options, I would be happy to help you reach your real estate goals. "

+1(250) 486-1889

deanna.jones@exprealty.com

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39 KING STREET W