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122-124 Cobourg Street

4002 - Lower Town Lower Town - Sandy Hill K1N 8H1

$4,500,000 /For Sale

Commercial

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• Details
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Status:

Active

Prop. Type:

Commercial

MLS® Num:

X12851986

Bus Major:

Apts - 13 To 20 Units

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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.

General Info:

Property Type:

Commercial

Property Sub Type:

Investment

Freestanding:

Yes

Total Area:

0 sq. ft. Acres

Total Area:

0 sq. ft.0 m2

Lot Depth:

165'8"50.5 m

Lot Frontage:

33'10.1 m

Water supply:

Municipal

Zoning:

R5C H(18) F(2.0)

Additional Info:

Heating type:

Baseboard

Garage:

Outside/Surface

Possession Details:

Flexible

Financial Info:

HST Applicable To Sale Price:

In Addition To

Assessment:

$2,025

Assessment Year:

2025

Type Taxes:

Annual

Taxes:

$34,765 / 2025

Assessment:

$2,025.00 / 2025

County:

Ottawa

Listing Area:

Lower Town - Sandy Hill

Listing Sub-Area:

4002 - Lower Town

Rental Items:

None

Inclusions:

all appliances in the building

Exclusions:

Tenant belongings

Other Details:

Utilities:

Yes

Green Property Information Statement:

No

Air Conditioning:

Yes

Seller Property Info Statement:

No

Commercial Info:

Gross income:

$313,195

Expenses Actual/Estimated:

Actual

Heating Expenses:

$4,430

Hydro Expenses:

$18,896

Insurance Expenses:

$18,896

Management Expenses:

$24,050

Tax Expenses:

$34,765

Water Expenses:

$5,904

Year Expenses:

2025

Business Info:

Major Business Type:

Apts - 13 To 20 Units

Category:

Apartment

Franchise:

No

Listing Info:

Date Listed:

Mar 05, 2026

Original Price:

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Previous Price:

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Listed by EXP REALTY

Data was last updated March 11, 2026 at 12:15 PM (UTC)

• DARYL KING
• RE/MAX HALLMARK REALTY LIMITED
• 1 (905) 9075464
• homes@darylking.com

This website may only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate of the type being offered via the website. The data relating to real estate on this website comes in part from the MLS® Reciprocity program of the PropTx MLS®. The data is deemed reliable but is not guaranteed to be accurate.

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Why Invest in Apartment Buildings for Sale?

Owning an apartment building for sale provides unique advantages:

• Multiple rental units generate consistent monthly income
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FAQs – Apartment Buildings for Sale

1. Are apartment buildings a good investment?
Yes, apartment buildings provide steady rental income, potential tax benefits, and property value appreciation over time.

2. What should I consider before buying an apartment building?
Evaluate location, tenant demand, building condition, rental income, and management costs.

3. Can first-time investors buy apartment buildings?
Yes, many financing options are available for new investors, including CMHC-backed loans and commercial mortgages.

4. How many units are considered an apartment building?
Typically, any property with five or more units is classified as an apartment building for investment purposes.

5. Where can I find apartment buildings for sale?
You can find listings across major cities and growing suburbs where rental demand remains strong.