Looking for a turn key investment that was newly renovated just 2 years ago? This is an exceptional purpose built 5-plex with very low maintenance costs (only 22 years old), featuring four 2-bedrooms units and 1 studio unit, all with 1 kitchen and 1 full bathroom. Occupied with triple A tenants, this property yields very strong cash flow ($94,140), resulting in an excellent cap rate. All units were renovated with commercial grade flooring (2023), new kitchens (2023) and bathrooms (2023). An easy building to maintain with a steel roof, vinyl siding, new breaker panels and separate hydro meters for all tenants (2023), and low operating costs ($17,653). Baseboard heating in bedrooms & heat/air conditioner unit in the living rooms. Located right across the street from the lake, and conveniently located just minutes from Hwy 12 and downtown Orillia, this is an opportunity to buy and benefit from the revitalization of Orillia. This property is zoned C4i, which offers a ton of potential uses for a savy investor. (id:4069)
Address
380 BAYVIEW PARKWAY
List Price
$999,999
Property Type
Multi-family
Type of Dwelling
Multi-family
Transaction Type
Sale
Area
Ontario
Sub-Area
Orillia
Floor Area
2,880 Sq. Ft.
Lot Size
90 x 135 FT Sq. Ft.
MLS® Number
S12781372
Listing Brokerage
RIGHT AT HOME REALTY, BROKERAGE
Postal Code
L3V3Y2
Zoning
C41
Site Influences
Highway, Public Transit
