214 Second Street, Cornwall, ON K6J 1G7
Cornwall
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.
Estimate only - excludes property tax, condo fees, utilities and home insurance. Rates vary by lender and term; based on semi-annual compounding.
Walkability, transit, and bike-friendliness for 214 Second Street, Cornwall, ON K6J 1G7
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MLS# X13447636
Listed by RE/MAX AFFILIATES MARQUIS LTD.
On market since Jun 15, 2026
214 Second Street, Cornwall, ON K6J 1G7 is listed for $1,500,000 CAD.
214 Second Street, Cornwall, ON K6J 1G7 has 15 bedrooms and 8 bathrooms.
214 Second Street, Cornwall, ON K6J 1G7 is a Multiplex.
214 Second Street, Cornwall, ON K6J 1G7 is in Cornwall, Ontario.
214 Second Street, Cornwall, ON K6J 1G7 is currently for sale.
Contact Michael Mezheritsky to arrange a private showing of 214 Second Street, Cornwall, ON K6J 1G7 (MLS# X13447636). You can also send a message through the contact form on this site.
