For Sale: 214 Second Street, Cornwall, ON - REW
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$1,500,000
15 bd • 8 ba • 5000 - 99999 sf • Multifamily
214 Second Street
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$1,500,000
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214 Second StreetCornwall, ON, K6J 1G7

  • 15 Bed
  • 8 Bath
  • 5000 - 99999 Sqft
  • Multifamily

About this home

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:63626)
Listed by: GARRET MUNRO, Salesperson, RE/MAX AFFILIATES MARQUIS LTD.

Home facts and features

Price details
List Price
$1,500,000
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Gross Taxes for 2026
$14,863
Home facts
Bedrooms
15
Full Bathrooms
8
Parking Spaces
12
Parking Details
No Garage
Property Type
Multifamily
Depth
264 feet
Frontage
63.6 feet
Exterior Finish
Brick
Heating Type
Radiant heat, Natural gas
Basement Details
Finished, Full, Apartment in basement, ,
Appliances
Refrigerator, Stove, Water Heater
Agent details
Primary Agent
GARRET MUNRO
Primary Broker
RE/MAX AFFILIATES MARQUIS LTD.
Secondary Agent
Secondary Broker
RE/MAX AFFILIATES MARQUIS LTD.
Listing details
Days on REW
2 Days
Property Views
26
MLS® Number
X13447636
Source
Canadian Real Estate Association
Board
Cornwall & District Real Estate Board
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25 Years
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Property Insights

St Columban's Catholic Elementary School
  • Catholic
  • JK - 8
Central Public School
  • Public
  • JK - 6
Cornwall Collegiate
  • Public
  • 7 - 12
Immaculate Conception School
  • Catholic
  • JK - 6
St. Matthew School
  • Catholic
  • 9 - 12
Citadelle School
  • Catholic
  • 7 - 12
Sacred Heart School
  • Catholic
  • JK - 8
É Élém C Notre-Dame
  • Catholic
  • JK - 6
St Joseph's School
  • Catholic
  • 9 - 12
Viscount Alexander Public School
  • Public
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
GARRET MUNRO
Phone:
(613) 551-5588
Office:
613-938-8100
Salesperson
ALAN MCLAUGHLIN-WHEELER
Phone:
(613) 936-7044
Office:
613-938-8100
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