Valeria Zhibareva
Broker
Re/Max Realty Enterptises Inc., Brokerage, Brokerage
Independently owned and operated.
1697 Lakeshore Rd W , Mississauga, Ontario L5J 1J4
Cell: 905-599-8574Office: 905-855-2200Fax: 905-855-2201
$6,799,000
Available - For Sale
Listing ID: X12818632
60 Cobourg Street , Lower Town - Sandy Hill, K1N 8G8, Ottawa
| 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. |
| Price | $6,799,000 |
| Taxes: | $52967.00 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 60 Cobourg Street , Lower Town - Sandy Hill, K1N 8G8, Ottawa |
| Postal Code: | K1N 8G8 |
| Province/State: | Ottawa |
| Legal Description: | PT LT 5, PL 43586 , S/S CLARENCE ST (FOR |
| Directions/Cross Streets: | Cobourg Street and Clarence Street E |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - Over 20 Units |
| Building Percentage: | T |
| Total Area: | 19450.00 |
| Total Area Code: | Square Feet |
| Chattels: | T |
| Management Expense: | 18409 |
| Water Expense: | $10911 |
| Net Income Before Debt: | $323893 |
| Expenses Actual/Estimated: | $Act |
| Sprinklers: | Yes |
| Washrooms: | 0 |
| Heat Type: | Water Radiators |
| Central Air Conditioning: | No |
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| CAPITAL COMMERCIAL INVESTMENT CORP. |
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Valeria Zhibareva
Broker
Dir:
905-599-8574
Bus:
905-855-2200
Fax:
905-855-2201
| Book Showing | Email a Friend |
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At a Glance:
| Type: | Com - Investment |
| Area: | Ottawa |
| Municipality: | Lower Town - Sandy Hill |
| Neighbourhood: | 4002 - Lower Town |
| Tax: | $52,967 |
| Fireplace: | N |
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