The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Listing data provided by the Toronto Regional Real Estate Board (TRREB). Data is deemed reliable but not guaranteed.
EXCEPTIONAL INVESTMENT OPPORTUNITY - POTENTIAL FOURPLEX CONVERSION IN DOWNTOWN CORNWALL! Discover the outstanding investment potential of this beautifully renovated, character-filled property located at 117 First Street East, in the heart of downtown Cornwall. Featuring approximately 3,860 sq. ft. of above-grade space across three levels, this versatile building offers an excellent opportunity for investors seeking to establish a four-unit multifamily residential income property. Previously configured into four separate units, the building features multiple kitchens, bathrooms, spacious living areas, and flexible floor plans, offering significant potential for conversion into four self-contained residential apartments. The property's Central Business District (CBD) zoning permits a wide range of residential and commercial uses, including quadruplex dwellings and apartment buildings, subject to applicable municipal requirements and approvals. Situated on a generous approximately 55 ft. 150 ft. lot with ample on-site parking, the property combines a timeless stone façade with attractive interior renovations and a highly desirable downtown location. Conveniently located near shopping, restaurants, schools, professional services, public transit, and Cornwall's scenic waterfront. Whether you are an experienced investor looking to expand your rental portfolio or a buyer seeking a value-add redevelopment opportunity, this property offers exceptional flexibility and long-term income potential. A rare opportunity to transform a distinctive downtown property into a multifamily residential investment!
Property Details
Listing
MLS® number
X14106156
Status
For Sale
Listed
Oct 22, 2026
Last updated
Oct 22, 2026
Possession
Immediate
Building
Type
Multi-Family
Style
3-Storey
Approx. age
Not provided by brokerage
Approx. size
3,500–5,000 ft²
Basement
Full
Lot
Frontage
55.18 ft
Depth
149.67 ft
Lot area
≈ 8,259 ft² (calculated)
View
North
Community
717 - Cornwall
Parking & utilities
Garage
Other, Garage, 0 spaces
Driveway
10 spaces
Heating
Forced Air
Cooling
Central Air
Water / sewer
Not provided by brokerage
Taxes
Property tax
$17,591 / 2025
Condo fee
N/A
Source
Data source
TRREB (VOW feed)
Listed by
ROYAL LEPAGE PERFORMANCE REALTY
Interior
Level
Room
Size
Features
Loading rooms…
Interior Features
Bedrooms above grade: 7
Kitchens: 1 above grade · 1 below grade
Basement: Full
Heating: Forced Air
Cooling: Central Air
Exterior
Pool features: None
Cross street: From Sydney St., turn East onto First St. E. Property is on the North side of the street
Demographic data is not available for this area yet.
Population—
Median household income—
Median age—
Age Groups
Age group data is not available.
Owners vs Renters
Ownership data is not available.
Household Type
Household data is not available.
What’s NearbyDistances approximate
No nearby school data is available for this listing.
Transit score information is not available for this listing.
Nearby everyday places are not available for this listing.
Always confirm school catchments with the local school board.
Estimated Rental Income
Rental estimate coming soon
We’re not showing a number until we have a data source we trust. When it’s connected, this section will show:
A monthly rent range from nearby leased homes of the same type and size
The leased comparables behind it (signed-in, VOW-gated)
Gross yield at the current list price
Monthly Cost
A quick estimate to plan with. Taxes come from the listing; change the other inputs to match your situation.
Estimated monthly$4,457/mo
Mortgage (principal + interest)$2,991
Property taxFrom listing: $17,591/yr$1,466
Minimum $54,950 down for this price; the slider moves in whole percent, starting at 7%. Under 20% adds mortgage default insurance. Confirm with a lender.
Mortgage uses Canadian semi-annual compounding. Houses-Gate doesn’t offer financing.
Estimated Budget
About how much cash you’ll need on closing day, besides the mortgage.
Down payment20% of the list price$159,900
Ontario land transfer taxProvincial brackets, no first-time refund$12,465
Legal fees & disbursementsTypical range $1,800–$2,800$1,800
Home inspectionTypical range $500–$800$600
Title insuranceTypical range $300–$600$400
Cash needed at closingEstimate$175,165
First-time buyers can get up to $4,000 back on Ontario land transfer tax. Cornwall has no municipal land transfer tax (Toronto does).
Uses Ontario’s land transfer tax brackets and the down payment set in Monthly Cost. Legal, inspection and title-insurance figures are typical ranges, not quotes.
Listing data is provided under copyright by the Toronto Regional Real Estate Board (TRREB). The data is deemed reliable but is not guaranteed to be accurate. The trademarks MLS®, Multiple Listing Service®, and the associated logos are owned by the Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change, or withdrawal. Neither listing broker(s) nor HousesGate shall be responsible for any typographical errors, misinformation, misprints, and shall be held totally harmless.
