$1,325,000
238 JAMES STREET E
Beds
9
Baths
6
Sqft
—
Year
—
Type
Single Family
Suite
Investment signal
Location nearby
Nearby school, halal, mosque, grocery, park, and transit layers are still being built for Cobourg. The listing facts above are live; the neighborhood-intelligence layer needs POI coverage before it can score this address properly.
About this home
Rare opportunity to acquire a well-maintained 6-unit multi-residential asset in the heart of Cobourg-an ideal entry point for investors looking to step into commercial real estate with confidence. Situated on a generous 66 x 190 ft lot, this property offers ample on-site parking and strong curb appeal, supporting long-term tenant retention and ease of management. The building features over 5,000 sq ft of (above and below grade) finished space as per MPAC, with a unit mix that has consistently delivered stable income. This building consists of 3 two-bedroom units, 2 one-bedroom units, and one bachelor unit. Current tenants are reliable, pay on time, and take pride in their homes-an often overlooked but critical component of a successful investment. Two units have been recently updated, offering a blend of improved rental potential and future upside. As tenancies turn over, there is clear opportunity to bring rents to market levels, strengthening overall cash flow and increasing long-term asset value. The property has been well cared for, creating a low-maintenance profile for an incoming investor. Located in a desirable area of Cobourg, close to amenities, transit, and the waterfront, this asset benefits from strong rental demand and long-term growth fundamentals. Whether you're expanding your portfolio or acquiring your first multi-unit property, this is a strategic opportunity to secure a stable, income-producing asset with built-in upside in ahigh-demand market. Currently the property is professionally managed - management company is willing to continue to manage for 8% with 3 months free (effective 6% for the first year). (id:65958)
- Subtype
- Single Family
- Structure
- House
- Community
- Cobourg
- Common interest
- Freehold
- Lot dimensions
- 66 x 190 FT
- Bedrooms
- 6 above grade, 3 below grade
- Parking
- 6 total
- Stories
- 2
- On market
- Apr 20, 2026
- Status changed
- Apr 26, 2026
- Annual tax
- $8,033.85 (2025)
- Photos
- 16
- MLS#
- X13019912
- Area
- COBOURG
Features and systems
Parking
Basement
Appliances
Heating
Cooling
Exterior
Foundation
Cash on cash
-6.43%
Cap rate
3.58%
GRM
16.7
Break-even rent
$8,120
Financing
Operating expenses (monthly)
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
Listing brokerage
Listing brokerage on file
Listing data via CREA DDF®. Information is deemed reliable but not guaranteed accurate by CREA. Last updated Apr 26, 2026.