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184 BORLAND STREET E, ORILLIA
2026-04-26
Quick Summary
- Location
- 184 BORLAND STREET E, ORILLIA, Ontario L3V2C3
- Price
- $1,550,000
- Status:
- For Sale
- Property Type:
- Multi-family
- Area:
- 5000 - 100000 sqft
- Bedrooms:
- 9
- Bathrooms:
- 7
- Garages:
- 10
MLS®#S13034688
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:32467)
Property Features
Building
- Basement Development: Finished
- Basement Features: Walk out
- Basement Type: N/A (Finished)
- Exterior Finish: Vinyl siding
- Fireplace: No
- Interior Size: 5000 - 100000 sqft
- Building Type: Other
- Stories: 2
- Utility Water: Municipal water
Land
- Land Size: 92.7 x 206.2 FT
- Sewer: Sanitary sewer
Zoning
- Description: R2
Information entered by CENTURY 21 B.J. ROTH REALTY LTD.
Listing information last updated on: 2026-06-18 17:32:03
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We charge a total of $7,950 for residential properties under $400,000. For residential properties $400,000-$900,000 we charge $9,950. For residential properties over $900,000 we charge 1% of the sale price plus $950. Plus Applicable taxes, of course. We also offer the flexibility to offer more commission to the buyer's agent, if you want to. It is as simple as that! For commercial properties, farms, or development properties please contact a One Percent agent directly or fill out the market evaluation form on the bottom right of our website pages and a One Percent agent will get back to you to discuss the particulars.
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- Mobile:
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- Email:
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- Support Area:
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I have worked in the real estate industry for the past 10 years. In this time, along with my husband ...
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