Welcome to an exceptional investment opportunity in one of downtown's most sought-after rental neighbourhoods, Lower Town. This impeccably maintained 26-unit building offers bright, spacious apartments, a strong and established tenant-base with consistent occupancy, strategic building upgrades, and valuable R5 H(18) F(2.0) zoning. Located prominently at the corner of Clarence Street East and Cobourg Street, 60 Cobourg Street comprises 22 apartment units in the main building, along with four townhouse-style units featuring private entrances on Clarence Street East. All 26 units were comprehensively upgraded in 2011, featuring a cohesive design with hardwood flooring and matching kitchens equipped with dishwashers, with the roof, windows, electrical and domestic plumbing also fully replaced in 2011. The common hallways are designed to blend the building's original character with an elevated, upscale aesthetic. Updated hallways feature fresh paint, LED lighting, and tasteful artwork, creating a warm and welcoming atmosphere for residents. The property is ideally situated just steps from the many amenities of Rideau Street, a short walk to the University of Ottawa campus, and directly serviced by public transit at the front door. MacDonald Gardens Park is located directly across the street, an ideal green space for tenants, further enhancing the appeal of the location.Thanks to its prime setting and meticulous upkeep, the property has historically re-rented easily and efficiently to qualified applicants, primarily young professionals; resulting in a consistently fully-tenanted rent roll. The unit-mix includes two bachelor units, seven one-bedroom units, six one-bedroom plus den units, ten two-bedroom units, and one three-bedroom unit. Additional features include three newer card-operated stackable laundry machines, providing tenants with the convenience of on-site laundry while generating reliable income for the owner. Attractive upside potential on current rent roll.
Address
60 Cobourg Street
List Price
$6,799,000
MLS® Status
New
Expiration Date
2026-06-30
Property Type
Commercial
Type of Dwelling
Investment
Transaction Type
Sale
Area
Lower Town - Sandy Hill
Sub-Area
4002 - Lower Town
Region
Ottawa
Lot Depth
66.5
Lot Shape
Rectangular
Lot Type
Building
Lot Size Units
Feet
Lot Width
98.25
Parcel Number
042130097
Total Building Area
19450
Occupant Type
Tenant
Cross Street
Cobourg Street and Clarence Street E
MLS® Number
X12818632
Listing Brokerage
CAPITAL COMMERCIAL INVESTMENT CORP.
Basement
Yes
Postal Code
K1N 8G8
Posession Details
Immediate
Tax Amount
$52,967.00
Tax Year
2025
Standard Status
Active
Board Or Association
Ottawa Real Estate Board
Heat Type
Water Radiators
Cooling Features
No
Garage Type
None
Tax Legal Description
PT LT 5, PL 43586 , S/S CLARENCE ST (FORMERLY FRANKLIN ST), AS IN N740685 ; OTTAWA/NEPEAN
Security Features
Yes
