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131 King St E 4 Unit Apartment Building $1,179,000 CAD ($294,750 CAD/Unit) 5.13% Cap Rate Cobourg, ON K9A 1L2
Investment Highlights
- Full-brick construction with landscaped lot and heritage charm, providing long-term value.
- Ample on-site parking for up to six vehicles—an uncommon feature in downtown Cobourg.
- Converted historic building now operating as a legal fourplex with four self-contained units.
Executive Summary
131 King Street East presents a unique opportunity in the heart of downtown Cobourg. Originally built as a Baptist church in 1956, this historically significant structure has been thoughtfully repurposed into a legal fourplex, blending old-world character with modern functionality. The property consists of two loft-style main-level units and two lower-level units, each self-contained with separate entrances, offering flexibility for investors or multi-generational living.
The building boasts a full-brick exterior and classic architectural features, complemented by updated paint and finishes throughout. With a generous lot that includes rare on-site parking for up to six vehicles, this investment property provides convenience while maintaining charm. Located within walking distance to Cobourg Beach, the marina, shops, cafes, and amenities, the property offers strong short-term rental potential or stable long-term income.
Ideal for buyers seeking a character asset with steady revenue or redevelopment prospects, this address delivers prime positioning in a vibrant and historic lakeside community.
The building boasts a full-brick exterior and classic architectural features, complemented by updated paint and finishes throughout. With a generous lot that includes rare on-site parking for up to six vehicles, this investment property provides convenience while maintaining charm. Located within walking distance to Cobourg Beach, the marina, shops, cafes, and amenities, the property offers strong short-term rental potential or stable long-term income.
Ideal for buyers seeking a character asset with steady revenue or redevelopment prospects, this address delivers prime positioning in a vibrant and historic lakeside community.
Property Facts
| Price | $1,179,000 CAD | Apartment Style | Garden |
| Price Per Unit | $294,750 CAD | Building Class | C |
| Sale Type | Investment | Building Size | 5,714 SF |
| Cap Rate | 5.13% | Average Occupancy | 50% |
| No. Units | 4 | No. Stories | 2 |
| Property Type | Multifamily | Year Built/Renovated | 1956/2000 |
| Property Subtype | Apartment | Parking Ratio | 0.88/1,000 SF |
| Zoning | R5-7H - Residential | ||
| Price | $1,179,000 CAD |
| Price Per Unit | $294,750 CAD |
| Sale Type | Investment |
| Cap Rate | 5.13% |
| No. Units | 4 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Building Size | 5,714 SF |
| Average Occupancy | 50% |
| No. Stories | 2 |
| Year Built/Renovated | 1956/2000 |
| Parking Ratio | 0.88/1,000 SF |
| Zoning | R5-7H - Residential |
Amenities
Unit Amenities
- Oven
- Loft Layout
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Fairly bikeable
50/100
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131 King St E
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