116 Albert Street South

Orillia, ONMulti-family
$599,000
MLS® S14081642
Multi-family4 beds3 baths3 total
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About This Property

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. (id:63604)

Key Facts

Type
Multi-family
Beds
4
Baths
3
Size
1,500 sqft
Lot
69.7 x 88.6 FT
Parking
3 total

Highlights

  • Washer
  • Refrigerator
  • Stove
  • Dryer
Property Details 15 details
Bedrooms
4 bedrooms
4 above grade
Bathrooms
3 bathrooms
Parking
3 parking spaces
No Garage
Living area
1,500 - 2,000 sq. ft.
Property
Multi-family · Attached
Property subtype
Multi-family
Structure type
Triplex
Attached status
Attached
Storeys
2
Basement
Unfinished, Full
Heating
Forced air, Natural gas
Fireplace
No
Lot dimensions
69.7 x 88.6 FT
Frontage
69.80 feet
Taxes
$3,326.00
Zoning
M2
Water source
Municipal water
Sewer
Sanitary sewer

Interior features

WasherRefrigeratorStoveDryerLaminateVinyl

Exterior features

BrickStone
Rooms 10 rooms
Level
Room
Dimensions
Main level
Kitchen
3.3 m x 2.65 m
Main level
Living room
3.11 m x 2.22 m
Main level
Bedroom
3.32 m x 2.18 m
Main level
Kitchen
5.94 m x 3.95 m
Main level
Den
2.67 m x 1.58 m
Main level
Bedroom
3.56 m x 3.11 m
Upper Level
Kitchen
3.37 m x 2.89 m
Upper Level
Living room
5 m x 3.38 m
Upper Level
Bedroom
4.14 m x 2.8 m
Upper Level
Bedroom
2.83 m x 2.15 m

Virtual Tour & Media

Brochure
Mortgage & Affordability Estimate monthly costs
Mortgage Tools Buyer/Seller Snapshot
Purchase price$599,000
Down paymentNot available
Mortgage amountNot available
Principal & interestNot available
Property taxesNot available
Condo/HOA feeNot available
Insurance/OtherNot available
UtilitiesNot available
Est. monthly totalNot available
Income needed (GDS 32%)Not available
Estimates only. Not financial advice. Rates, taxes and fees vary by lender and municipality.

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Neighbourhood

Area
Orillia
City
Orillia
Postal code
L3V 5L2
Nearby
Barrie Rd/Albert St S
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