122-124 Cobourg Street, Lower Town - Sandy Hill, ON K1N 8H1
$4,500,000
122-124 Cobourg Street, Lower Town - Sandy Hill, ON K1N 8H1, Lower Town - Sandy Hill, ON
122-124 Cobourg is a rare chance to acquire two neighboring, income-producing multi-family buildings(one title) in Ottawa's historic Lowertown, minutes from the ByWard Market, Rideau Centre, the University of Ottawa, and major government employment hubs. Each property contains seven residential units (14 total), giving investors immediate scale in a tight, highly walkable rental market. Most suites are in excellent condition, with only a few needing light cosmetic upgrades, creating straightforward upside through selective renovations and modest rent increases rather than disruptive construction. The buildings sit on a quiet residential block with high walkability, strong transit, and quick access to cycling routes and downtown bridges. Residents can walk to buses, shops, parks, schools, and nightlife, making the property ideal for students, young professionals, and public-sector workers who value an urban, car-optional lifestyle. Lowertown benefits from ongoing reinvestment and steady gentrification, supporting long-term rent growth and low vacancy while positioning this asset to outperform more peripheral locations. Operationally, this is a stabilized, low-maintenance acquisition. Roofs, windows, and major exterior items have been renewed within roughly the last decade, sharply reducing near-term capital expenditures. Electrical systems have been modernized, utilities are separated to each unit, and efficient electric heat pumps added, simplifying expense recovery and appealing to tenants seeking comfortable, modern housing. With the heavy lifting complete, investors can focus on fine-tuning operations and turning a few under-market units to unlock additional income. An assumable CMHC-insured mortgage is in place, allowing buyers to step into attractive financing that may be difficult to replicate today, boosting cash flow and reducing interest-rate risk. Property is held in a stand alone corp and can be purchased to save on acquisition costs.
Property Highlights
For Sale
MLS NO.
X12851986
Type
Commercial
Sub Type
Investment
Complete Property Details
Property Type
Commercial
Sub Type
Investment
Transaction Type
For Sale
Status
Active
Contract Status
Available
MLS® Number
X12851986
Lot Width
33.0
Lot Size Units
Acres
Garage Type
Outside/Surface
Cooling
Yes
Heat Type
Baseboard
Internet Address Display Yn
Yes
Internet Entire Listing Display Yn
Yes
Full Address
122-124 Cobourg Street, Lower Town - Sandy Hill, ON K1N 8H1
City
Lower Town - Sandy Hill
Neighbourhood
4002 - Lower Town
County / Region
Ottawa
Province / State
ON
Postal Code
K1N 8H1
Cross Street
Rideau and Cobour
Directions
From 417, take the King Edward Avenue exit north, turn right on Rideau Street, left on Cobourg Street, then continue to 122-124 Cobourg on your right.
Country
CA
List Price
$4,500,000
Annual Taxes
$34,765
Tax Year
2025
Possession Type
Flexible
Possession Details
Flexible
Listing Office
EXP REALTY
Board
Toronto Regional Real Estate Board
Original Entry
2026-03-05T22:56:28Z
Media Updated
2026-03-07T16:10:45Z
Photos Updated
2026-03-06T22:55:20Z
Last Modified
2026-03-07T16:10:45Z
System Modified
2026-03-07T16:10:45.256669Z
MLS Status
New
Ddfyn
Yes
Expiration Date
2026-09-11
Heat Type Multi
Baseboard, Electric Forced Air
Hstapplication
In Addition To
Occupant Type
Tenant
Originating System Id
A00001796
Parcel Number
042130194
Public Remarks
122-124 Cobourg is a rare chance to acquire two neighboring, income-producing multi-family buildings(one title) in Ottawa's historic Lowertown, minutes from the ByWard Market, Rideau Centre, the University of Ottawa, and major government employment hubs. Each property contains seven residential units (14 total), giving investors immediate scale in a tight, highly walkable rental market. Most suites are in excellent condition, with only a few needing light cosmetic upgrades, creating straightforward upside through selective renovations and modest rent increases rather than disruptive construction. The buildings sit on a quiet residential block with high walkability, strong transit, and quick access to cycling routes and downtown bridges. Residents can walk to buses, shops, parks, schools, and nightlife, making the property ideal for students, young professionals, and public-sector workers who value an urban, car-optional lifestyle. Lowertown benefits from ongoing reinvestment and steady gentrification, supporting long-term rent growth and low vacancy while positioning this asset to outperform more peripheral locations. Operationally, this is a stabilized, low-maintenance acquisition. Roofs, windows, and major exterior items have been renewed within roughly the last decade, sharply reducing near-term capital expenditures. Electrical systems have been modernized, utilities are separated to each unit, and efficient electric heat pumps added, simplifying expense recovery and appealing to tenants seeking comfortable, modern housing. With the heavy lifting complete, investors can focus on fine-tuning operations and turning a few under-market units to unlock additional income. An assumable CMHC-insured mortgage is in place, allowing buyers to step into attractive financing that may be difficult to replicate today, boosting cash flow and reducing interest-rate risk. Property is held in a stand alone corp and can be purchased to save on acquisition costs.
