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. (id:4069)
Address
184 BORLAND STREET E
List Price
$1,500,000
Property Type
Multi-family
Type of Dwelling
Multi-Family
Transaction Type
Sale
Area
Ontario
Sub-Area
Orillia
Floor Area
5,474 Sq. Ft.
Lot Size
92.67 x 206.17 FT Sq. Ft.
Lot Depth
206 ft ,2 in
Frontage Length
92 ft ,8 in
MLS® Number
S13034698
Listing Brokerage
CENTURY 21 B.J. ROTH REALTY LTD.
Postal Code
L3V2C3
Zoning
R2
Parking Places (Total)
10
Site Influences
Public Transit
Features
Irregular lot size, Conservation/green belt
Heat Source
Natural gas
Heat Type
Forced air
Cooling Features
Partially air conditioned
Water Source
Municipal water
