120-122 SYDNEY ST, Cornwall, ON K6H 3H2
120-122 SYDNEY ST, Cornwall, ON K6H 3H2
120-122 SYDNEY ST, Cornwall, ON K6H 3H2
120-122 SYDNEY ST, Cornwall, ON K6H 3H2
120-122 SYDNEY ST, Cornwall, ON K6H 3H2
120-122 SYDNEY ST, Cornwall, ON K6H 3H2
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Jonathan Colford

Jonathan Colford

+1(647) 823-6092
$ 1,175,000
Est. payment | /mo
Save
$ 1,175,000
Est. payment | /mo
Save

Key Details

Property Type Commercial

Sub Type Investment

Listing Status Active

Purchase Type For Sale

Subdivision 717 - Cornwall

MLS Listing ID X12823830

Annual Tax Amount $7,316

Tax Year 2025

Property Sub-Type Investment

Property Description

BEAUTIFULLY RENOVATED UNIQUE HISTORIC BRICK BUILDING IN DOWNTOWN LOCATION! Check out this very unique historic building which has been converted to an easy to maintain 5 Plex residential apartment building (5,272 sq.ft. as per MPAC). All renovations were completed with City of Cornwall building permits, inspections and finals approvals. This fully renovated/fully occupied property has an approximate /estimated annual net cash flow of $80,000 (before debt service, depreciation, vacancy & bad debt, management and maintenance). The capitalization rate for this investment property is calculated to be + 7% at the listing price, based on the income and expenses provided by the seller in the listing data. However if an investor builds in additional building expenses based on typical criteria for appraisal valuation or by mortgage lenders the Capitalization rate would be reduced to approximately 6% based on these additional expenses are built into the revised net can flow calculation for this income property (still a fair investor return for this quality of income property). Each apartment is finished with hardwood flooring & beautifully updated contemporary kitchens with granite counters & stainless steel dishwasher + bathrooms. The units are spacious, with 4 two-bedroom and 1 one-bedroom with den. All suites feature a 4-piece bath, in-suite laundry, and extras like central self-controlled AC, individual decks, private paved parking, and stainless steel appliances (included). Each unit has its own services with separate meters + the tenants pay their own utilities. Seller requires SPIS signed & submitted with all offer(s) and 2 full business days irrevocable to review any/all offer(s).

Location

Province ON

County Stormont, Dundas And Glengarry

Area Stormont, Dundas And Glengarry

Zoning Central Business District

Interior

Cooling Yes

Inclusions 5 fridges, 5 stoves, 5 dishwashers, 5 washers, 5 dryers

Exterior

Community Features Public Transit

Utilities Available Yes

Lot Frontage 67.87

Lot Depth 108.97

Building

Building Age 100+

Others

Security Features No

ParcelsYN No

Listed by CAMERON REAL ESTATE BROKERAGE

Nearby Locations

Jonathan Colford

"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "

+1(647) 823-6092

jonathan.colford@exprealty.com

8763 Bayview Ave #127, Richmond Hill, ON L4B 3V1, ON, CAN

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120-122 SYDNEY ST

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