170-172 Blake Street

Nestled in the heart of Cobourg, at 170-172 Blake Street, this impressive Multi-Family Home for sale in Cobourg presents a rare opportunity for both investors and those seeking a spacious residence. This fully vacant 4-Plex is situated in the historic downtown area, offering a blend of convenience and potential. The property features a well-designed 2-storey multiplex style, boasting a total of 19 rooms, including four kitchens and four bathrooms, making it an ideal choice for those looking to lease out units at current market rates.

The layout of this Multi-Family Home for sale in Cobourg is particularly appealing, comprising two 2-bedroom units and two 3-bedroom units. This configuration provides ample living space for families or groups of tenants, ensuring a steady rental income. The property is zoned R4, which allows for various residential uses, and with an extra-large lot measuring 86 by 154 feet, there is significant room for growth and development. The potential for expansion is further enhanced by the availability of parking space for up to six vehicles, making it convenient for tenants and guests alike.

Located at 170-172 Blake Street, Cobourg, this property is not only spacious but also strategically positioned. The neighbourhood is quiet, situated off the main arterial roads, providing a peaceful environment while still being in close proximity to all amenities. Residents will appreciate the ease of access to downtown Cobourg, where a variety of shops, restaurants, and services are readily available. Moreover, the stunning lake and beach are within walking distance, allowing for leisurely strolls and outdoor activities.

As you explore this Multi-Family Home for sale in Cobourg, you will notice the exterior is clad in low-maintenance vinyl siding, complemented by a durable metal roof. This combination ensures that the property remains attractive and requires minimal upkeep. Inside, the units are unfurnished, allowing new owners the flexibility to personalise the space according to their preferences. Each unit is equipped with separate gas, hydro, and water meters, which simplifies utility management for both the landlord and tenants.

While the property does not feature a central vacuum system, air conditioning, or a fireplace, it compensates with its functional layout and the potential for renovation. One of the units has recently undergone renovations, showcasing the possibilities for enhancing the remaining spaces. The unfinished basement offers additional storage options or the potential for further development, depending on the new owner's vision.

This Multi-Family Home for sale in Cobourg is an exceptional investment opportunity, particularly for those looking to enhance their real estate portfolio. With the option to live in one unit while renting out the others, it provides a practical solution for homebuyers seeking to offset their mortgage costs. The long-term tenants in the other three units indicate a strong rental demand in the area, making this property an attractive proposition for investors.

In summary, 170-172 Blake Street, Cobourg, is not just a house; it is a gateway to a vibrant community and a promising investment. The combination of its prime location, spacious units, and potential for growth makes this Multi-Family Home for sale in Cobourg a unique opportunity that should not be overlooked. Whether you are an investor or a prospective homeowner, this property offers the chance to start fresh in a delightful neighbourhood that perfectly balances tranquillity and accessibility. Don't miss out on the opportunity to make this remarkable property your own.

Cobourg, nestled on the picturesque shores of Lake Ontario, is a charming town that seamlessly blends historic charm with modern amenities. Known for its stunning waterfront, Cobourg boasts a beautiful beach, vibrant parks, and a lively marina, making it an ideal spot for outdoor enthusiasts. The town's rich heritage is reflected in its well-preserved architecture and inviting downtown area, which features quaint shops, delightful cafés, and a variety of cultural events throughout the year. With a strong sense of community and a welcoming atmosphere, Cobourg offers a tranquil yet engaging lifestyle, perfect for those seeking a balance between serene lakeside living and the vibrancy of a close-knit town.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a 2.5 km radius, you will find a variety of schools catering to different educational needs. The closest is St. Michael Catholic Elementary School, just 0.5 km away, offering a French-language curriculum for grades JK to 6. Other nearby elementary schools include Burnham Public School (1.3 km) and C.R. Gummow School (1.7 km), which provide English and French instruction for grades K to 8. For families seeking Catholic education, St. Joseph Catholic Elementary School is located 2.2 km away, serving grades JK to 8, while St. Mary Catholic Secondary School, also 2.5 km away, offers education for grades 9 to 12. All schools are part of reputable boards, ensuring a solid educational foundation. The diverse language offerings and proximity to multiple schools make this location particularly appealing for families prioritizing education.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 485 residents, with an average household size of 2.1 individuals. The demographic profile indicates a mature community, with an average age of 45.7 years. The average household income stands at $91,000, reflecting a relatively affluent population, although 12.4% of residents fall below the low-income threshold. The real estate market shows an average property price of $650,000, with 27.91% of households renting. Approximately 42.86% of the population is single, while 25% of households include children, suggesting a mix of family structures. The area is home to a small percentage of immigrants at 5.26%, and a significant portion of residents, 58.75%, hold a college or university degree, indicating a well-educated community. However, nearly half of the population (47.5%) is not in the labor force, which may impact local economic dynamics. The housing market features a modest proportion of condominiums at 4.65%, reflecting diverse housing options. Overall, this community presents a blend of stability, education, and varied family dynamics, making it an interesting area for potential homebuyers or investors.