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$ 6,799,000
Est. payment /mo
Active
60 Cobourg ST Lower Town - Sandy Hill, ON K1N 8G8
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Subdivision 4002 - Lower Town
MLS Listing ID X13044652
Annual Tax Amount $52,967
Tax Year 2025
Property Sub-Type Investment
Property Description
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.
Location
Province ON
County Ottawa
Area Ottawa
Interior
Cooling No
Exterior
Utilities Available Available
Lot Frontage 98.25
Lot Depth 66.5
Others
Security Features Yes
ParcelsYN No
Listed by CAPITAL COMMERCIAL INVESTMENT CORP.