214 SECOND STREET, Cornwall, ON K6J1G7
717 - Cornwall
Key Facts
Description
Welcome to The Strathcona, a landmark multi-residential investment opportunity with substantial upside located in the vibrant downtown core of Cornwall. This impressive 8-unit, all-brick apartment building blends historic charm with dependable income and ample upside potential, making it an attractive addition to any investment portfolio. The property features a desirable unit mix of seven spacious 2-bedroom apartments and one 1-bedroom unit, catering to a broad tenant base. Six of the apartments offer private balconies, providing valuable outdoor living space that helps attract and retain quality tenants. Residents enjoy an exceptional location within walking distance of downtown amenities, including shopping, restaurants, public transit, parks, and Cornwall's scenic waterfront. Each unit is equipped with a refrigerator and stove, while a private rear parking area provides added convenience for tenants-an increasingly sought-after feature in the downtown market. Constructed with durable brick exterior walls and heated by a hot water boiler system with in-unit radiators, the property offers reliable performance and classic character. The boiler system was replaced in September 2015, contributing to the building's ongoing maintenance profile. With its strong curb appeal, excellent central location, established rental demand, and upside potential on rental income, The Strathcona presents a rare opportunity to acquire a solid apartment building in one of Eastern Ontario's most desirable markets. Current Income/Expenses: Gross income of $137,862.84, Expenses of $37,661.03, Net Operating Income of $100,201.81 (Current Cap Rate of 6.7%). Potential Income/Expenses (at market rents): Gross Income of $176,400, Expenses of $37,661.03, Net Operating Income of $138,738.97 (Potential Cap Rate of 9.25%). Assumption based on $1800/unit rent for 2 Bedroom, $1450/unit rent for 1 Bedroom. Please provide 48h notice for all showing requests. (id:31684)
Property Information
Property Type
Residential Income
Sub-Type
Multi Family
Parking Spaces
12
Listing #
X13447636
Property Features
Cooling
Heating
Affordability Calculator
$300,000
Estimated monthly payment
$7,984/mo
Principal $1,200,000 · Est. interest $1,674,107 over 30 yrs
Neighborhood Market Statistics
How this home compares to active listings in Cornwall, ON
- CA$475,369
- Median Listing Price
- 43
- Median Days on Market
- 1,300
- Median Sq Ft
- CA$350
- Median Price / Sq Ft
- 443
- Active Listings
- This home’s price is 216% above the area median.
Market statistics compiled from active EXIT Realty® and MLS listings in Cornwall, ON.
Location
- 214 SECOND STREET, Cornwall, ON K6J1G7
Points of Interest in Cornwall, ON
Showing the Cornwall area map.
Nearby Schools
St. Matthew Catholic Secondary School
Secondary · 0.4 km away
Central Public School
Elementary · 0.7 km away
Tr Leger School
School · 0.8 km away
Cornwall Collegiate and Vocational School
Secondary · 0.8 km away
Bishop Macdonell Catholic School
Elementary · 1.0 km away
Freehouse Montessori School
Elementary · 1.5 km away
Sunrise & Shine Childcare Centre
School · 1.5 km away
T R Leger School of Adult & Continuing Secondary School
Secondary · 1.7 km away
Ecole Secondaire Catholique la Citadelle
Secondary · 1.8 km away
Akwesasne Mohawk School
School · 1.8 km away
Notre-Dame Catholic Elementary School
Elementary · 2.4 km away
St Joseph's Catholic Secondary Sch
Secondary · 2.5 km away
Sacred Heart Catholic School
Secondary · 2.5 km away
Viscount Alexander Public School - Ucdsb
Elementary · 2.6 km away
Ecole Secondaire Publique L'Heritage
Secondary · 2.7 km away
Young Achievers Daycare
School · 2.7 km away
St. Anne Catholic School
School · 2.7 km away
Bridgewood Public School - Ucdsb
School · 3.0 km away
St Lawrence Secondary School
Secondary · 3.1 km away
Ecole Elementaire Catholique Marie-Tanguay
Elementary · 3.4 km away
Commute Calculator
Nearby Homes
Similar Homes Nearby
Similar Home Values
Comparable nearby listings and their asking prices.
| Address | Price | Beds | Baths | Sq Ft |
|---|---|---|---|---|
| 214 Second Street, Cornwall, ON | CA$1,500,000 | 15 | 8 | — |
Moving Cost Estimate
EXIT Agents in Cornwall
Listing Courtesy: RE/MAX AFFILIATES MARQUIS LTD.
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