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$ 599,000
Est. payment /mo
New
116 Albert ST S Orillia, ON L3V 5L2
4 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1500-2000
Subdivision Orillia
MLS Listing ID S14081642
Style 2-Storey
Bedrooms 4
Annual Tax Amount $3,326
Tax Year 2025
Property Sub-Type Triplex
Property 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.
Location
Province ON
County Simcoe
Area Simcoe
Rooms
Family Room No
Basement Full, Unfinished
Kitchen 3
Interior
Interior Features None
Cooling None
Fireplace No
Heat Source Gas
Exterior
Parking Features Private Triple
Pool None
Roof Type Asphalt Shingle
Lot Frontage 69.69
Lot Depth 88.62
Total Parking Spaces 3
Building
Building Age 100+
Unit Features Public Transit,School Bus Route,Hospital
Foundation Stone
Others
ParcelsYN No
Virtual Tour https://youtu.be/mnEPQDD27Rc
Listed by FARIS TEAM REAL ESTATE BROKERAGE