Who’s looking for a profitable property?
This Cobourg condo one block from the beach and marina offers a clean spread with minimal updating required! Already partially renovated, you get to focus on the fun stuff – new countertops, backsplashes, updated fixtures and appliances would take this to a conservative ARV of $575K. Check out the comps selling in the $600s! Condo fees cover water, building insurance, and common elements, so there’s no roof, windows, or exterior maintenance to maintain yourself, just the interior to manage. With a strong rental market for condos near the water, multiple exit paths remain open.
How can you profit?
1) Easy Wholetail / Flip – With a same-building comp in much worse condition selling at $400K, cleaning up and relisting this partially-updated condo is a viable strategy. Alternatively, take it to the next level with cosmetic updates like countertops, backsplashes and fixtures to target a quick sale at $575K! (Check out comps going into the $600s!)
2) Buy & Hold Rental – With 2-bed condos this size renting for $3,000 a month and condo fees covering water, insurance, and common elements, this is a low-hassle hold for a landlord who doesn’t like surprises!
3) Move In With Equity – With a same-building comp in much worse condition selling at $400K, end users can move into this partially-renovated condo immediately and easily improve their equity over time with manageable improvements – no need to call the contractor!
4) Realtors, Bring Your Clients – Don’t let your flippers, landlords and bargain-hunting end users to miss out on this one – 2.5% Co-Op included at $335K!
SUMMARY:
– LOCATION: Cobourg, ON (SE of King St E & Division St – one block to beach!)
– PURCHASE PRICE: $335,000 (includes 2.5%+HST Co-Op)
– DIRECT BUYER PRICE: $325,000 Or Best Offer
– AFTER REPAIR VALUE: $575,000+ (Check out the same-building comp at $615K!)
– CLOSING: November 17, 2026 (This is an assignment sale.)
– TYPE: Condo Apartment
– BEDS/BATHS: 2 beds / 1 bath
– PARKING: 1 parking spot
– SQFT: 1,130
– AGE: 1988
– PROPERTY TAX: $3,587 (2025)
– POSSESSION: Vacant on closing
– CONDO FEES: $650/month (includes water, building insurance, common elements)
– POTENTIAL RENT: $3,000/month (based on 2-bed area comps this size)
RENOVATIONS NEEDED:
– Some junk and furniture removal.
– Cleaning, paint and cosmetic touch ups for move-in ready condition
– Consider updating kitchen countertops, back splashes, fixtures and appliances to reach full ARV!
– Please view the pictures and videos for ideas on what you’d like to renovate.
GOOD NEWS:
– Steps to Lake Ontario, Cobourg Marina & Yacht Club, Victoria Beach and downtown Cobourg
– Kitchen and bathroom already updated – just need to take them to the next level!
– Condo fees cover water, building insurance, and common elements, no roof or window costs to worry about
– $250K+ spread with minimal work required
– 1 dedicated parking spot included
LISTING ID: 1026-COB-C01
Please let us know if you want to view it or if you want the info package. (Comparable solds, MPAC info, and more…)
Thank you,
Aaron Moore, Tobias King & Georgia Godfrey
647-557-5979
www.HouseDealsGTA.ca – Wholesale Properties For Real Estate Investors
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