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Andrew Cigna

andrew@theaboveallgroup.com +1(416) 885-8557

$ 1,550,000

Est. payment | -/mo

9 Beds

7 Baths

Save

$ 1,550,000

Est. payment | -/mo

Save

9 Beds

7 Baths

Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 +

Subdivision Orillia

MLS Listing ID S13034688

Style 2-Storey

Bedrooms 9

Annual Tax Amount $10,628

Tax Year 2025

Property Sub-Type Multiplex

Property Description

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.

Location

Province ON

County Simcoe

Area Simcoe

Rooms

Family Room No

Basement Finished with Walk-Out

Kitchen 7

Interior

Interior Features Accessory Apartment

Cooling Other

Fireplace No

Heat Source Gas

Exterior

Parking Features Private Double

Pool None

View Water, Trees/Woods, Lake, Park/Greenbelt

Roof Type Asphalt Shingle,Metal

Lot Frontage 92.67

Lot Depth 206.17

Total Parking Spaces 10

Building

Foundation Concrete Block

Others

ParcelsYN No

Listed by CENTURY 21 B.J. ROTH REALTY LTD.

Nearby Locations

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+1(416) 885-8557

andrew@theaboveallgroup.com

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184 Borland ST E Orillia, ON L3V 2C3