$750,000
Available - For Sale
Listing ID: X12151686
29 King Stre East , Cobourg, K9A 2M1, Northumberland
| Rare opportunity to own a mixed-use fourplex in the heart of downtown Cobourg! This stunning property features 1 commercial unit and 3 residential apartments just steps from the beach, Victoria Park, and Cobourg's vibrant shops and restaurants. The entire main floor is zoned commercial offering flexibility to convert the rear main unit back to commercial use if desired(total 1,308 sqft per MPAC).Current configuration includes two 1-bedroom units, one 2-bedroom unit, and one commercial space. Excellent tenants in place, some units paying their own hydro. Onsite parking for up to 4vehicles. With its prime location, solid income, and future flexibility, this property stands out as one of the best-priced fourplexes available especially in such a high-demand downtown location. An ideal addition to any investors portfolio with long-term upside and walkable appeal.***MOTIVATED SELLER Opportunity to bundle multiple listings for a better CAP and price. See MLS listings X12151686, X12151707, X11893749, X12151667. Willing to sell these 27 units at an overall reduced price. |
| Price | $750,000 |
| Taxes: | $11190.02 |
| Tax Type: | Annual |
| Assessment Year: | 2024 |
| Occupancy: | Tenant |
| Address: | 29 King Stre East , Cobourg, K9A 2M1, Northumberland |
| Postal Code: | K9A 2M1 |
| Province/State: | Northumberland |
| Legal Description: | PT LT 5 BLK A PL CADDY (FORMERLY LT 16 C |
| Directions/Cross Streets: | Division St / King St E |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 2 To 5 Units |
| Building Percentage: | F |
| Total Area: | 3388.00 |
| Total Area Code: | Square Feet |
| Management Expense: | 5471 |
| Water Expense: | $3045 |
| Vacancy Allowance: | 1563 |
| Net Income Before Debt: | $42852 |
| Expenses Actual/Estimated: | $Act |
| Sprinklers: | No |
| Washrooms: | 0 |
| Heat Type: | Baseboard |
| Central Air Conditioning: | No |
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| RE/MAX JAZZ INC. |
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Sumit Chopra
Broker
Dir:
647-964-2184
Bus:
905-230-3100
Fax:
905-230-8577
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At a Glance:
| Type: | Com - Investment |
| Area: | Northumberland |
| Municipality: | Cobourg |
| Neighbourhood: | Cobourg |
| Tax: | $11,190.02 |
| Fireplace: | N |
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