184 BORLAND STREET E, Orillia, ON L3V2C3
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184 BORLAND STREET E, Orillia, ON L3V2C3
184 BORLAND STREET E, Orillia, ON L3V2C3
184 BORLAND STREET E, Orillia, ON L3V2C3
184 BORLAND STREET E, Orillia, ON L3V2C3
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Jordan Rossman

Jordan Rossman

+1(705) 345-0797
$ 1,550,000
Est. payment /mo
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184 BORLAND STREET E Orillia, ON L3V2C3

9 Beds

7 Baths

5,000 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Listing Status Active

Purchase Type For Sale

Approx. Sqft 5000 - 100000

Square Footage 5,000 sqft

Price per Sqft $310

Subdivision Orillia

MLS® Listing ID S13034688

Bedrooms 9

Property Description

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:24570)

Location

Province ON

Rooms

Kitchen 0.0

Extra Room 1 Second level Measurements not available Bedroom

Extra Room 2 Second level Measurements not available Bedroom

Extra Room 3 Lower level Measurements not available Bedroom

Extra Room 4 Lower level Measurements not available Bedroom

Extra Room 5 Main level Measurements not available Bedroom

Extra Room 6 Main level Measurements not available Bedroom

Interior

Heating Baseboard heaters, Forced air, Not known

Exterior

Parking Features No

View Y/N Yes

View View of water, Lake view

Attached Garage No

Total Parking Spaces 8

Garage No

Private Pool No

Building

Story 2

Sewer Sanitary sewer

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Listed by CENTURY 21 B.J. ROTH REALTY LTD.

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Jordan Rossman

Jordan Rossman

+1(705) 345-0797

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