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$1,500,000
Ontario,Cornwall
For Sale Active
214 SECOND STREET, Cornwall, Ontario K6J1G7
  • 15
  • 8
  • 5000 - 100000Square Feet
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Basic Details
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:62650)

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Basic Details
  • Property Type: Residential Income
  • Listing Type: For Sale
  • Listing ID: X13447636
  • Price: $1,500,000
  • Bedrooms: 15
  • Bathrooms: 8
  • Square Footage: 5000 - 100000 Sqft
  • Status: Active
  • Property Sub Type: Multi-family
  • Office Key: 291732
Features & Appliances
Features
  • Heating System: Natural gas, Radiant heat
  • Cooling System: None
  • Basement: Finished, N/A, Full, Apartment in basement
  • Parking: No Garage
  • Exterior Features: Brick
  • Sewer: Sanitary sewer
  • Utilities: Electricity, Sewer
Address Map
  • Location: CA, Ontario, Cornwall, K6J1G7
  • Street: Second
  • Street Number: 214
  • Street Suffix: Street
  • Longitude: W75° 15' 59''
  • Latitude: N45° 0' 59.8''
Additional Information
  • Water Source:
  • Foundation Details:
  • Lot Size Dimensions: 63.5 x 264 FT
  • Stories: 3.0
Financial
  • Tax Annual Amount: 14863
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Listing updated: 2026-06-17 11:59:56
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Listing Information
  • List Agent Key: 2078890
  • List Office Key: 291732
  • Modification Timestamp: 2026-06-15T20:45:04Z
  • Originating System Name: Cornwall & District Real Estate Board
  • Status Change Timestamp: 2026-06-15T20:35:36Z
Powered by REALTOR.ca
Listing updated: 2026-06-17 11:59:57
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