21 & 23 King Street

Cobourg, ON

9 bed
4 bath
5,700 sqft
Investment
2 days on market

$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.

Listing Details

Taxes (2026): $6,916
Listed: September 17, 2026

Price History

Listing history

Property

Age: 100+
Lot Size: 40.95 x 165 Feet

Parking

Garage: None

Utilities

Sewer: Sanitary+Storm Available
Heat Source: Gas

Location & Legal

Cross Street: Division St And King St E
Zoning: MC Exception for legal non-conforming use
Parcel Number: 511000006
Possession: Immediate
Occupancy: Tenant

Commercial

Business Type: Other

Included

Inclusions: 2 Forced-Air Gas Furnaces. 2 Natural Gas Hot Water Tank/Heaters. All ELF, Existing Appliances "as is", 2 F.A.G Furnaces, 2 Hwt Tanks, Window Coverings
Exclusions: All Tenant Belongings

Community

Postal area K9A

Population: 26,757
Private dwellings: 11,937
Median age: 53.2
Average household size: 2.3
Median household income: $82,000

Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.

Local market

Commercial in Cobourg · last 12 months

Median sold price: $637,500
Homes sold: 355
Median days on market: 27
Sale-to-list price: 97.5%

Based on 355 recorded sales of commercial properties in Cobourg over the last 12 months.

Listed by

Century 21 United Realty Inc.

Walk Score

Walk Score is unavailable for this address right now.

Location

Street View

Commercial figures

Building area: 5,700 sq ft
Price per sq ft: $192.98
Annual property tax: $6,916
Tax per sq ft: $1.21

Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.

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