122-124 Cobourg Street

About this home

This is a rare opportunity to acquire two neighboring, income-producing multi-family buildings on **one title** in Ottawa's historic Lowertown. Comprising 14 residential units (7 per building), this stabilized investment is ideally located just minutes from the ByWard Market, Rideau Centre, the University of Ottawa, and major government employment hubs. The majority of suites are in excellent condition, with only a few offering value-add potential through light cosmetic updates and rental optimization. Major capital improvements-including roofs, windows, electrical upgrades, and efficient electric heat pumps-have already been completed, helping minimize near-term capital expenditures. Positioned in one of Ottawa's most desirable urban rental markets, the property benefits from strong demand driven by students, young professionals, and government employees. An assumable CMHC-insured mortgage is available, and the property is held in a standalone corporation, presenting a compelling opportunity for investors seeking stable cash flow with long-term upside.

Details

Type

Investment

Lot

33 × 165.66 ft

Garage

Outside/Surface

Property tax

$34,765 (2025)

Neighbourhood

4002 - Lower Town

Municipality

Lower Town - Sandy Hill

Heating, cooling and services

Heating

Baseboard

Air conditioning

Yes

Utilities

Yes

More

Possession

Flexible

Cross street

Rideau and Cobour

Business type

Apts - 13 To 20 Units