39 King Street W Cobourg, Ontario K9A 2M1
$1,299,000
$99,600 ANNUAL GROSS INCOME. APPROX. 6% CAP RATE. 4 INCOME STREAMS! An established, fully occupied mixed-use Commercial Residential FREEHOLD Brick Multi Unit in the heart of historic Downtown Cobourg. An attractive 4,390 sq. ft. brick building combining a prominent King Street retail storefront with 3 residential apartments, offering diversified income, immediate cash flow & manageable ownership. Approx. $78,719 annual Net Operating Income represents a 6.06% CAP RATE at the $1,299,000 asking price, based on supplied expenses, excluding vacancy, management & capital reserves. The commercial tenant pays $3,000/month base rent PLUS $700/month TMI, with a 3-year lease commencing March 2025. The bright 1,161 sq. ft. storefront offers excellent visibility, large display windows, high ceilings & flexible retail space, PLUS approx. 1,161 sq. ft. lower level with office, storage, laundry hookups, 2-pc bath & walkout access. Three residential apartments occupy the upper floors, with independent access & separate hydro meters. Current residential rents total $4,600/month, with month-to-month tenancies. Tenants pay their own electricity. Significant improvements include a 2016 membrane roof, 2016 residential furnace, 2018 hot water tank & 2024 fire retrofit. Two furnaces, separate hot water systems, multiple entrances & 3 rear parking spaces add functionality. Potential rear patio with plans available, subject to approvals. PRIME DOWNTOWN LOCATION steps to Victoria Hall, shops, restaurants, VIA Rail, Marina, Beach & Lake Ontario waterfront. Approx. 100 km east of Toronto. A STABILIZED INCOME PROPERTY OFFERING ESTABLISHED TENANCIES, DIVERSIFIED REVENUE & LONG-TERM OWNERSHIP VALUE IN A DESIRABLE WATERFRONT COMMUNITY. (id:61476)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | X14110610 |
| Property Type | Multi-family |
| Community Name | Cobourg |
| Parking Space Total | 3 |
Building
| Bathroom Total | 5 |
| Age | 100+ Years |
| Appliances | Water Heater |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 4,390 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 115 Ft ,7 In |
| Size Frontage | 22 Ft ,3 In |
| Size Irregular | 22.26 X 115.6 Ft |
| Size Total Text | 22.26 X 115.6 Ft |
| Zoning Description | Mc |
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October 26 2026 04:21:24
Central Lakes Association of REALTORS®