$1,299,000 Sale

Listed 1 day

39 KING STREET W

MLS® x14110610 Multi Family

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Beds · 0

Baths · 5.0

Parking · 3

Sqft · 4390

Est. mortgage

$4,928/mo

Key Facts

Key facts for 39 KING STREET W

Property Type

Apartment

Parking

Garage: No, 3 parking

MLS #

X14110610

Size

4390 sqft

Basement

Listed on

Lot size

Tax

Days on Market

Year Built

Maintenance Fee

Description

$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. Call for Income & Expenses & floor plans. (id:10452)

Full Property Details

Interior

Washrooms

5.0

Square Footage

4390 sqft

Heating Source

Natural gas

Heating Type

Forced air

Air Conditioning

Fully air conditioned

Full Bathrooms

Half Bathrooms

Washrooms

5.0

Square Footage

4390 sqft

Heating Source

Natural gas

Heating Type

Forced air

Air Conditioning

Fully air conditioned

Full Bathrooms

Half Bathrooms

Exterior

Acreage

22.26 x 115.6 FT

Parking Spaces

Garage Spaces Y/N

Zoning Description

Acreage

22.26 x 115.6 FT

Parking Spaces

Garage Spaces Y/N

Zoning Description

Building Description

Home Type

Apartment

Subtype

Multi Family

Water Supply

Municipal water

Home Type

Apartment

Subtype

Multi Family

Water Supply

Municipal water

Community

Cobourg

Area Code

Cobourg

Community

Cobourg

Area Code

Cobourg

Other

Virtual Tour Link

https://listings.insideoutmedia.ca/sites/39-king-st-w-cobourg-on-k9a-2n6-12275431/branded

Virtual Tour Link

https://listings.insideoutmedia.ca/sites/39-king-st-w-cobourg-on-k9a-2n6-12275431/branded

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