For Sale: 122-124 Cobourg Street, Ottawa, ON - REW
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$4,250,000
0 bd • ba • sf • Multifamily
122-124 Cobourg Street
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$4,250,000
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122-124 Cobourg StreetOttawa, ON, K1N 8H1

Lowertown
  • 0 Bed
  • Bath
  • Sqft
  • Multifamily

About this home

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. (id:63626)
Listed by: Marc Papineau, Salesperson, EXP REALTY OF CANADA, INC.

Home facts and features

Price details
List Price
$4,250,000
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Gross Taxes for 2025
$34,765
Home facts
Bedrooms
0
Full Bathrooms
Property Type
Multifamily
Depth
165.66 feet
Frontage
33.0 feet
Heating Type
Baseboard heaters, Forced air
Cooling
Fully air conditioned
Appliances
All
Community
Agent details
Primary Agent
Marc Papineau
Primary Broker
EXP REALTY OF CANADA, INC.
Listing details
Days on REW
96 Days
Property Views
25
MLS® Number
X12851986
Source
Canadian Real Estate Association
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Amortization
25 Years
Interest Rate
3.99%

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Property Insights

É Élém C Sainte-Anne
  • Catholic
  • JK - 8
ÉEP De la Salle
  • Public
  • 7 - 8
ÉSP De La Salle
  • Public
  • 9 - 12
York Street Public School
  • Public
  • JK - 8
ÉEP Le Trillium
  • Public
  • JK - 6
ÉEP Francojeunesse
  • Public
  • JK - 6
Répit-Transit
  • Public
  • JK - 12
ÉEP Trille des Bois
  • Public
  • JK - 8
É Élém C Horizon-Jeunesse
  • Catholic
  • JK - 6
Assumption Catholic Elementary School
  • Catholic
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Salesperson
Marc Papineau
Phone:
(866) 530-7737
Office:
(866) 530-7737
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.