21 & 23 King Street E Cobourg, Ontario K9A 1K6
$1,100,000
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. (id:47351)
Property Details
| MLS® Number | X13798450 |
| Property Type | Business |
| Community Name | Cobourg |
| Farm Type | Other |
| Features | Irregular Lot Size |
| Parking Space Total | 1 |
Building
| Bathroom Total | 4 |
| Bedrooms Total | 9 |
| Age | 100+ Years |
| Appliances | Water Heater, Window Coverings |
| Cooling Type | None |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 5,700 Sqft |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 165 Ft |
| Size Frontage | 40 Ft ,11 In |
| Size Irregular | 40.95 X 165 Ft |
| Size Total Text | 40.95 X 165 Ft |
| Zoning Description | Mc Exception For Legal Non-conforming Use |
https://www.realtor.ca/real-estate/30294449/21-23-king-street-e-cobourg-cobourg
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September 18 2026 05:08:36
Central Lakes Association of REALTORS®