Cross Streets: Rideau and Cobour. ** Directions: From 417, take the King Edward Avenue exit north, turn right on Rideau Street, left on Cobourg Street, then continue to 122-124 Cobourg on your right. 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. (id:27476)
