116 Albert Street S,Orillia, ON L3V 5L2
Orillia, ON L3V 5L2
Description
Top 5 Reasons You Will Love This Home: 1) Discover an exceptional opportunity to invest in the heart of Orillia with this legal triplex, offering three residential units and exciting income potential, including a beautifully renovated, vacant suite that provides the flexibility to move right in or welcome a new tenant at current market rental rates 2) Take advantage of a prime downtown location where shopping, restaurants, grocery stores, healthcare services, and everyday conveniences are all within easy reach, complemented by nearby waterfront attractions and the beautiful shores of Lake Couchiching, creating an appealing setting for both residents and prospective tenants 3) Move forward with confidence knowing several significant improvements have already been completed, including a brand-new furnace (2026), updated eavestroughs (2025), and a newer roof (2024), while two modernized suites, including one recently renovated and vacant unit, add to the property's overall appeal and functionality 4) Whether you're looking to expand your investment portfolio or offset your mortgage by living in one unit while renting the others, this versatile property presents an attractive opportunity with projected annual rental income approaching $50,000, offering the potential to generate revenue while building long-term equity 5) Explore the possibilities of this income-producing property with a detailed revenue and expense statement available upon request, providing valuable financial insight for prospective buyers looking to make an informed investment in Orillia's rental market. 1,943 above grade sq.ft. plus an unfinished basement. *Please note some images have been virtually staged to show the potential of the home.
Details
| MLS # | S14081642 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 10 |
| Listing Provided By | FARIS TEAM REAL ESTATE BROKERAGE | S14081642 239901 |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 3 |
| Basement | Y |
| Story(s) | 2 |
| Acreage | 0.14 |
Interior
| Interior Features | None |
|---|---|
| Cooling | None |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Roof | Asphalt Shingle |
|---|---|
| Foundation Details | Stone |
| Construction Materials | Brick |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Private Triple |
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 3326 |
|---|---|
| Tax Legal Description | PT LT 6 BLK K PL 228 ORILLIA PT 1, 51R13363; ORILLIA |
| Tax Year | 2025 |
Area Information
| Province | ON |
|---|---|
| County | Simcoe |
| City | Orillia |
| Postal Code | L3V 5L2 |
| Area | Orillia |
| Listing VS Median (in L3V 5L2) | |
Price: $599,000 low | high Med: $0 On site: 10 low | high Med: | |
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Learn More About This Property
| Province | ON |
|---|---|
| County | Simcoe |
| City | Orillia |
| Postal Code | L3V 5L2 |
| Area | Orillia |
| Listing VS Median (in L3V 5L2) | |
Price: $599,000 low | high Med: $0 On site: 10 low | high Med: | |
