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BEDROOMS3
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KITCHENS15
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Property Description
Turnkey Residential income opportunity in the heart of downtown Orillia. This Brand new fully renovated never lived in Multi Use legal triplex is a rare offering for investors and Home Ownership seeking strong cash flow, low operating costs, and long-term appreciation. Each of the three self-contained units features 2 bedrooms, 1 living space, and a 3-piece bathroom, along with a separate laundry for each suite and all appliances inclusive (stove & fridge). Designed for tenant comfort and independence, every unit also benefits from separate gas and hydro meters, significantly reducing landlord expenses. Adding to its appeal, includes Private parking space at rear of building -a highly desirable feature in a central downtown location. Projected rental income based on current market conditions is approximately $5,600/month ($67,200 annually), delivering a strong ~5.7%-6.0% cap rate depending on purchase price. This makes the property ideal for investors looking for immediate income with upside potential. Flexible ownership options allow you to rent all three units for maximum cash flow, or live in one unit while the others offset your mortgage, making it equally attractive for owner-investors. Situated steps to Orillia's vibrant downtown core, tenants enjoy easy access to shops, restaurants, waterfront parks, and major amenities, supporting consistent rental demand and long-term stability. A clean, efficient, income-producing asset in a growing market-this is the type of property serious investors look for.
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Property Features
Air Exchanger, Carpet Free, Separate Heating Controls, ERV/HRV, Water Heater Owned, Separate Hydro Meter, Private
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Property Details
Address
28 West Street
Community
City
Postal Code
L3V 5B8
Property Type
Detached, Detached
Lot Size
31' x 112'
Taxes
$5,955 (2025
Basement
Walk-Up, Finished, Separate Entrance, Apartment
Heat Type
Forced Air
Heat Source
Electric
Water
Municipal
Parking Spaces
3
Garage Type
None
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Listing contracted with Right At Home Realty
VERSATILE 2-STOREY HOME WITH TWO SELF-CONTAINED LIVING SPACES ON AN EXTRA-DEEP LOT IN THE HEART OF ORILLIA! Rarely offered and full of opportunity, this 2-storey home in the heart of Orillia is the kind of property buyers wait for! Ideally located just minutes from Orillia Soldiers' Memorial Hospital, Orillia Opera House, Couchiching Beach Park with beautiful shoreline trails, schools, shopping, dining, the rec centre, and the iconic Mariposa Market, this property places everyday convenience and vibrant community amenities right at your doorstep. Featuring two recently updated self-contained units, it offers exceptional flexibility for first-time buyers, or multi-generational families looking to live comfortably. The spacious main floor suite impresses with 3 bedrooms, a bright separate living room, a large dining area, abundant storage, basement access, a 4-piece bathroom, and in-suite laundry, while the upper-level suite offers a warm and inviting atmosphere with 2 generously sized bedrooms and a well-appointed 4-piece bathroom. Step outside to discover an expansive extra-deep lot with endless future potential, whether you envision additional living space, an accessory dwelling unit, or simply enjoying the privacy of your own backyard retreat complete with mature trees, a covered patio, and sprawling green space. A large rear parking area adds even more practicality, while quick Highway 11 access makes commuting south or escaping to cottage country effortless. This standout #HomeToStay offers the flexibility and long-term value today's buyers are searching for!
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