Space
Finished area and layout
- Building Area
- 5,474 sqft
- Bedrooms
- 9
- Bathrooms
- 7
+45 more
9
Bedrooms
7
Bathrooms
5,474 sqft
Building Area
92.67 x 206.17 FT
Lot
10
Parking
Property Snapshot
Key details for this listing
MLS #S13034688
Property
Type, style and structure
- Type
- commercial
- Style
- investment / Mixed Use
- Ownership
- Freehold
- Stories
About This Property
This 9-bedroom, 7-bathroom investment in Orillia offers 5,474 sqft of building area on a 92.67 x 206.17 FT lot. 2 storeys. The property has zoned R2. The home features partial.
MLS Remarks
This property performs and turns heads. 184 Borland St E presents a rare opportunity to acquire a renovated, well-maintained multi-residential asset in one of Orillia's most established neighbourhoods. Located in the prestigious and highly valued East Ward on a large in-town lot, this is a clean, stabilized investment with a proven track record of performance.The property consists of 6 legal residential units plus flex space delivering solid 6+ income streams with strong in-place tenancy and a historically low vacancy rate. Over the past three years, vacancy has been minimal, with near full occupancy outside of brief renovation periods.Based on 2026 projections from actuals, the property generates a Net Operating Income of $96,266.92 and is offered at $1,550,000, representing a 6.21% cap rate. Operating expenses of $30,946.36 reflect a combination of actual and projected costs, resulting in an efficient and well-controlled expense profile.Ownership has completed extensive capital improvements including renovated units, updated hallways, plumbing upgrades, lighting improvements, and the replacement of both owned hot water tanks in 2025. The asset has been actively improved with a focus on long-term performance and tenant retention.Recent leasing activity confirms strong rental demand, with a one-bedroom unit leased at $1,700 and a three-bedroom at $2,000. Current rents align with market levels while still offering room for gradual growth.Additional income from laundry and parking further supports overall returns, and the property benefits from a balanced tenant mix of long-term and newer occupants.Strong numbers, low vacancy rate, and a fully improved asset in a growing Simcoe County market make this a compelling turnkey investment with immediate cash flow and continued upside. (id:60351)
Full Listing Details
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