Investment signal

$1,690,000

214 SECOND STREET W

Save this home

Beds

—

Baths

—

Sqft

16,738

Year

—

Type

Multi-family

Suite

Investment signal

Text Hasan Open map Ask a question

Location nearby

Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Cornwall. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.

About this home

Welcome to The Strathcona, an iconic well-maintained 8-unit, all-brick apartment building ideally located in the heart of downtown Cornwall, offering strong tenant appeal with convenient access to shopping, restaurants, public transit, and the waterfront. Rich in character, this property features a classic brick façade, secure front entrance, and charming architectural details. The building comprises seven 2-bedroom units and one 1-bedroom unit, with six units offering private balconies that enhance tenant lifestyle and support long-term occupancy. Each unit includes a fridge and stove for added convenience. The building is serviced by both front and rear staircases, providing practical access and added safety. A solid rear addition and functional layout contribute to durability and ease of maintenance, while private on-site parking at the rear adds significant value in the downtown core. Rarely offered, The Strathcona presents a unique opportunity to acquire a centrally located, character-filled multi-residential asset with proven rental appeal, stable cash flow, and long-term investment potential. Heat is a hot water boiler with in unit radiators, boiler changed September 2015. Please allow 48hr irrevocable on all offers. (id:65958)

Subtype: Multi-family
Structure: Multi-Family
Community: 717 - Cornwall
Living area: 16,738 square feet
Lot dimensions: Bldg=62 x 264 FT
Parking: 12 total
On market: Apr 10, 2026
Status changed: Apr 24, 2026
Annual tax: $14,863
Zoning: SPU20 Multi-Residential
Photos: 1
MLS#: X12985188
Area: CORNWALL

Features and systems

Appliances

Water Heater

Heating

Hot water radiator heatNatural gasRadiator

Cooling

None

Negative cash flow ~$1,790/mo at these assumptions

Monthly rent (CAD)Adjust to your local market estimateDown payment (%)Investment props typically 20-25%Mortgage rate (% annual)Default 4.5% — adjust to your rate holdAmortization (years)

Cash on cash

-6.35%

Cap rate

3.59%

GRM

16.7

Break-even rent

$10,334

Financing

Down payment$338,000

Loan amount$1,352,000

Mortgage$6,850/mo

Operating expenses (monthly)

Property tax(est. 0.55%/yr (AB avg))$775

Insurance$80

Maintenance$1,408

CapEx reserve$704

Vacancy loss$423

Estimates only. Actual cash flow depends on financing terms, condition reports, current market rents, property tax assessment, condo fees, and tenant quality. Defaults: 4.5% rate, 30-year amortization, 5% vacancy, 1%/yr maintenance, 0.5%/yr CapEx reserve, $80/mo insurance. Property tax estimated at 0.55%/yr where not provided. Talk to a mortgage broker before relying on these numbers.

Mortgage estimate

Estimated $6,850/mo at 4.5% with 20% down, 30-yr amortization.Estimate only — actual payment varies by qualification + insurance.

Listing brokerage

Listing brokerage on file

Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 24, 2026.