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$ 1,690,000
Est. payment /mo
Price Dropped by $100K
81 & 85 Peter ST Orillia, ON L3V 5B3
6,000 SqFt
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 6,000 sqft
Price per Sqft $281
Subdivision Orillia
MLS Listing ID S12070360
Annual Tax Amount $14,122
Tax Year 2024
Property Sub-Type Investment
Lot Front 6000.0
Property Description
12 Rental Apartments in the heart of Downtown Orillia, located within a short walk to the lake, Starbucks, Metro grocery store, Home Hardware, and several shops, restaurants, and more! 5% cap rate! Only $150,000 per suite offering a very attractive and affordable investment opportunity, with low operational costs and A+ rental market!Orillia benefits from a stable economic foundation, with recent investments in downtown waterfront development, a new recreation facility, and community improvement programs. Recognized as one of Ontario's top 10 cities for real estate investment, the city has seen housing starts grow by 110% and consistent price increases since 2015. This momentum, paired with a diverse tenant base including students from nearby colleges and professionals, makes multi-family investments in Orillia a secure and promising opportunity for long-term growth. Full income and expense details available.
Location
Province ON
County Simcoe
Community Orillia
Area Simcoe
Zoning MULTI RESIDENTIAL
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 6000.0
Listed by STONEBANK REAL ESTATE LTD.
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