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Tony & Ledi Real Estate Team

info@tonyledi.com +1(647) 493-3579

Est. payment | -/mo

15 Beds

8 Baths

Save

Est. payment | -/mo

Save

15 Beds

8 Baths

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 +

Subdivision 717 - Cornwall

MLS Listing ID X13447636

Style 3-Storey

Bedrooms 15

Annual Tax Amount $14,863

Tax Year 2025

Property Sub-Type Multiplex

Property 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.

Location

Province ON

County Stormont, Dundas And Glengarry

Area Stormont, Dundas And Glengarry

Rooms

Family Room No

Basement Apartment, Finished, Full

Kitchen 8

Separate Den/Office 3

Interior

Interior Features Other

Cooling None

Inclusions 8-Fridges, 8-Stoves, 9-Hot Water Tanks, 9-Electrical Meters

Exterior

Pool None

Roof Type Asphalt Rolled

Lot Frontage 63.5

Lot Depth 263.97

Total Parking Spaces 12

Building

Foundation Concrete

Others

Senior Community No

ParcelsYN No

Listed by RE/MAX AFFILIATES MARQUIS LTD.

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+1(647) 493-3579

info@tonyledi.com

CAN

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214 Second ST Cornwall, ON K6J 1G7