Lincoln Realty Ltd.
38
131 King St E
Free account required
$1,349,888 Sale
Listed 85 days ago
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Key Facts
Key facts for 131 King St E
Property Type
Commercial
Parking
Outside/Surface
MLS #
X7006072
Size
-
Basement
-
Listed on
-
Lot size
66 x 155.61
Tax
$5,171 /yr
Days on Market
-
Approximate Age
-
Maintenance Fee
$2,000/mo
Description
Unlock the doors to a living legacy at 131 King St. East, Cobourg. Originally consecrated in 1956, this architectural masterpiece has been thoughtfully repurposed into four residences, each with unique character and modern conveniences. A comprehensive renovation in 2000 introduced contemporary a...menities such as in-suite laundry, high-efficiency furnaces, and private entrances to each unit. Unit 1 is the crown jewel, boasting a sprawling loft suite with skylights and resplendent solid oak flooring. Meanwhile, Unit 2 is currently a chic studio, while downstairs, Unit 3 provides a sanctuary on the lower level. Unit 4 offers a cozy retreat with a private entrance and patio spaces. This property presents an unparalleled investment opportunity, generating an impressive net operating income of nearly $69,000 annually, yielding an enticing cap rate of 5.13%. **** Extras **** Two of the four units are currently vacant, offering flexibility to inhabit or lease them immediately. major capital work has been completed. proper turnkey investment, ready to yield historical charm and a compelling return on investment.
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Courtesy of: RE/MAX GOLD REALTY INC.