For Sale: 116 Albert Street S, Orillia, ON - REW
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$599,000
4 bd • 3 ba • 1500 - 1999 sf • Multifamily
116 Albert Street S
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$599,000
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116 Albert Street SOrillia, ON, L3V 5L2

  • 4 Bed
  • 3 Bath
  • 1500 - 1999 Sqft
  • Multifamily

About this home

Top 5 Reasons You Will Love This Home: 1) Discover an exceptional opportunity to invest in the heart of Orillia with this legal triplex, offering three residential units and exciting income potential, including a beautifully renovated, vacant suite that provides the flexibility to move right in or welcome a new tenant at current market rental rates 2) Take advantage of a prime downtown location where shopping, restaurants, grocery stores, healthcare services, and everyday conveniences are all within easy reach, complemented by nearby waterfront attractions and the beautiful shores of Lake Couchiching, creating an appealing setting for both residents and prospective tenants 3) Move forward with confidence knowing several significant improvements have already been completed, including a brand-new furnace (2026), updated eavestroughs (2025), and a newer roof (2024), while two modernized suites, including one recently renovated and vacant unit, add to the property's overall appeal and functionality 4) Whether you're looking to expand your investment portfolio or offset your mortgage by living in one unit while renting the others, this versatile property presents an attractive opportunity with projected annual rental income approaching $50,000, offering the potential to generate revenue while building long-term equity 5) Explore the possibilities of this income-producing property with a detailed revenue and expense statement available upon request, providing valuable financial insight for prospective buyers looking to make an informed investment in Orillia's rental market. 1,943 above grade sq.ft. plus an unfinished basement. *Please note some images have been virtually staged to show the potential of the home. (id:63626)
Listed by: MARK FARIS, Broker, FARIS TEAM REAL ESTATE BROKERAGE

Home facts and features

Price details
List Price
$599,000
Get Pre-Approved
Gross Taxes for 2026
$3,326
Home facts
Bedrooms
4
Full Bathrooms
3
Parking Spaces
3
Parking Details
No Garage
Property Type
Multifamily
Lot Size
69 ft x 88 ft (6175 ft²)
Depth
88.6 feet
Frontage
69.8 feet
Exterior Finish
Brick
Heating Type
Forced air, Natural gas
Basement Details
Unfinished, Full
Appliances
Dryer, Refrigerator, Stove, Washer
Agent details
Primary Agent
Primary Broker
FARIS TEAM REAL ESTATE BROKERAGE
Secondary Agent
KYLE ASSELIN
Secondary Broker
Faris Team Real Estate Brokerage
Listing details
Days on REW
26 Days
Property Views
12
MLS® Number
S14081642
Source
Canadian Real Estate Association
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Property Insights

Lions Oval Public School
  • Public
  • JK - 8
Harriett Todd Public School
  • Public
  • JK - 8
Orillia Campus School
  • Public
  • 9 - 12
Orillia Secondary School
  • Public
  • 9 - 12
Twin Lakes Secondary School
  • Public
  • 9 - 12
Orillia Christian School
  • Private
  • JK - 8
ÉÉC Samuel-de-Champlain
  • Catholic
  • JK - 6
Regent Park Public School
  • Public
  • JK - 8
St Bernard's School
  • Catholic
  • JK - 8
Orchard Park Elementary School
  • Public
  • JK - 8
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Broker
Mark Faris
Phone:
(705) 797-8485
Office:
705-797-8485
Salesperson
KYLE ASSELIN
Phone:
(705) 325-1366
Cell:
705-797-8485
Office:
705-325-8686
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