- Price
- $4,250,000
- Bedrooms
- 0
- Bathrooms
- 0
- Size
- —
- Type
- Multi-family
- Year built
- —
Listing courtesy of EXP REALTY
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:66700)
Location
4002 - Lower Town, Ottawa
Estimate your payment
A rough monthly cost for this home — adjust the numbers to fit your situation.
Estimated monthly payment
$19,755
or $9,878 bi-weekly
- Mortgage amount
- $3,400,000
- Total interest
- $2,526,566
Estimate only. Canadian rates compound semi-annually; figures exclude property tax, condo fees, and insurance. Confirm with your lender or mortgage broker.
Listing courtesy of EXP REALTY
Listing data last updated May 24, 2026.
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