$1,325,000
Available - For Sale
Listing ID: X13019902
238 James Street East , Cobourg, K9A 1H7, Northumberland
| Rare opportunity to acquire a well-maintained 6-unit multi-residential asset in the heart of Cobourg-an ideal entry point for investors looking to step into commercial real estate with confidence. Situated on a generous 66 x 190 ft lot, this property offers ample on-site parking and strong curb appeal, supporting long-term tenant retention and ease of management. The building features over 5,000 sq ft of (above and below grade) finished space as per MPAC, with a unit mix that has consistently delivered stable income. This building consists of 4 two-bedroom units, one one-bedroom unit, and one bachelor unit. Current tenants are reliable, pay on time, and take pride in their homes-an often overlooked but critical component of a successful investment. Two units have been recently updated, offering a blend of improved rental potential and future upside. As tenancies turn over, there is clear opportunity to bring rents to market levels, strengthening overall cash flow and increasing long-term asset value. The property has been well cared for, creating a low-maintenance profile for an incoming investor. Located in a desirable area of Cobourg, close to amenities, transit, and the waterfront, this asset benefits from strong rental demand and long-term growth fundamentals. Whether you're expanding your portfolio or acquiring your first multi-unit property, this is a strategic opportunity to secure a stable, income-producing asset with built-in upside in a high-demand market. |
| Price | $1,325,000 |
| Taxes: | $8033.85 |
| Tax Type: | Annual |
| Assessment Year: | 2025 |
| Occupancy: | Tenant |
| Address: | 238 James Street East , Cobourg, K9A 1H7, Northumberland |
| Postal Code: | K9A 1H7 |
| Province/State: | Northumberland |
| Legal Description: | PT LT 11 BLK G PL CADDY (FORMERLY LT 15 |
| Directions/Cross Streets: | JAMES ST E / D'ARCY |
| 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 | |
| Washroom Type 6 | 0 | |
| Washroom Type 7 | 0 | |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Category: | Apartment |
| Use: | Apts - 6 To 12 Units |
| Building Percentage: | T |
| Total Area: | 12540.00 |
| Total Area Code: | Square Feet |
| Management Expense: | 7239 |
| Water Expense: | $0 |
| Vacancy Allowance: | 1810 |
| Net Income Before Debt: | $57419 |
| Expenses Actual/Estimated: | $Est |
| Washrooms: | 6 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | No |
| Sewers: | Sanitary |
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| RE/MAX JAZZ INC. |
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At a Glance:
| Type: | Com - Investment |
| Area: | Northumberland |
| Municipality: | Cobourg |
| Neighbourhood: | Cobourg |
| Tax: | $8,033.85 |
| Baths: | 6 |
| Fireplace: | N |
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