$1,550,000
Available - For Sale
Listing ID: S13034698
184 Borland Street East , Orillia, L3V 2C3, Simcoe
| 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. |
| Price | $1,550,000 |
| Taxes: | $10628.00 |
| Tax Type: | Annual |
| Assessment Year: | 2026 |
| Occupancy: | Tenant |
| Address: | 184 Borland Street East , Orillia, L3V 2C3, Simcoe |
| Postal Code: | L3V 2C3 |
| Province/State: | Simcoe |
| Directions/Cross Streets: | Canice St |
| 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 |
| Building Percentage: | T |
| Total Area: | 5474.00 |
| Total Area Code: | Square Feet |
| Area Influences: | Greenbelt/Conse Public Transit |
| Financial Statement: | T |
| Chattels: | T |
| Franchise: | F |
| Net Income Before Debt: | $96267 |
| Expenses Actual/Estimated: | $Act |
| Washrooms: | 0 |
| Heat Type: | Gas Forced Air Open |
| Central Air Conditioning: | Partial |
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| CENTURY 21 B.J. ROTH REALTY LTD. |
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Shawn Syed, AMP
Broker
Dir:
416-786-7848
Bus:
(416) 494-7653
Fax:
1 866 229 3159
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At a Glance:
| Type: | Com - Investment |
| Area: | Simcoe |
| Municipality: | Orillia |
| Neighbourhood: | Orillia |
| Tax: | $10,628 |
| Fireplace: | N |
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