103 Albert Street S

Nestled in the heart of Orillia, at 103 Albert Street S, this remarkable Multi-Family Home for sale in Orillia is a legal four-plex that is sure to impress from the moment you arrive. The property boasts extensive renovations completed in 2017, transforming it into four efficient apartments, all carried out with the necessary permits and final occupancy granted by the City building department. This is a fantastic opportunity for those looking to invest in a property that not only meets legal standards but also offers a well-structured living arrangement for tenants.

As you approach the property at 103 Albert Street S, Orillia, you will notice the appealing vinyl siding that adorns the exterior, providing both durability and aesthetic charm. The building is a two-storey multiplex, which means it is designed to accommodate multiple families comfortably. Each of the four units is equipped with separate heating and hydro systems, allowing tenants to manage their own utilities with the exception of water, which is included in the rent. The heating system consists of gas heat in three of the four units, while the fourth unit utilises electric heating, ensuring a warm and welcoming environment throughout the year.

The layout of this Multi-Family Home for sale in Orillia is both practical and efficient. With a total of ten rooms, the property features four kitchens, allowing each unit to be fully self-sufficient. While there is no den or additional rooms, the configuration of the apartments maximises space for comfortable living. The absence of a family room or central vacuum system is offset by the well-planned design of the apartments, which prioritises functionality. Each unit is unfurnished, providing tenants with the flexibility to personalise their living spaces to suit their tastes.

One of the standout features of this property is the half, unfinished basement, which offers potential for further development or storage. The lot measures an impressive 48 by 165 feet, providing ample outdoor space for tenants to enjoy. Although there is no pool or garage on the premises, the private driveway accommodates up to four parking spaces, ensuring that residents have convenient access to their vehicles.

The financials of this Multi-Family Home for sale in Orillia are quite compelling. The gross annual rent from the four apartments totals an impressive $47,244. The rental breakdown is as follows: Apartment #1, a one-bedroom unit, rents for $1,100 plus gas and hydro; Apartment #2, another one-bedroom unit, is available for $895 plus gas and hydro; Apartment #3, a bachelor apartment, is listed at $925 plus gas and hydro; and Apartment #4, another bachelor unit, rents for $917 plus hydro. With such attractive rental rates, this property presents a lucrative investment opportunity.

The expenses associated with the property are also noteworthy. Annual costs include insurance at £2,508, water at £2,020, and taxes amounting to £5,382, along with snow and grass maintenance costing £1,600. This brings the total expenses to £11,510, which is quite reasonable considering the income generated from the rentals.

In summary, this Multi-Family Home for sale in Orillia at 103 Albert Street S, Orillia, represents a fantastic investment opportunity in a vibrant community. With its modern renovations, efficient layout, and strong rental income potential, it is ideal for investors looking to make a mark in the Orillia property market. Don’t miss your chance to explore this impressive property, where each unit offers a unique living experience in a well-maintained environment.

Orillia, nestled in the heart of Ontario, Canada, is a charming city renowned for its picturesque landscapes and vibrant waterfront along Lake Couchiching and the Narrows. This delightful locale offers a harmonious blend of natural beauty and urban convenience, making it an attractive destination for those seeking a serene yet engaging lifestyle. The area is characterised by its lush parks, scenic trails, and a rich tapestry of cultural events, including festivals and local markets. With a strong sense of community spirit and a variety of recreational activities, Orillia provides a welcoming environment for residents who appreciate both outdoor adventures and the warmth of small-town living.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to a range of academic needs for families. The closest elementary school, Lions Oval Public School, is just 0.9 km away and offers grades JK to 8 with a solid rating of 4.1. Another nearby elementary option is Harriett Todd Public School, located 1.2 km from the property, which provides French language instruction for grades 1 to 4 and boasts a commendable rating of 5.5. For older students, Orillia Secondary School, situated 1.5 km away, offers grades 9 to 12 and has an impressive rating of 5.7. Twin Lakes Secondary School is also nearby at 1.6 km, offering grade 9 with a rating of 5.1. Additionally, Regent Park Public School, located 1.8 km away, serves grades 5 to 8 in French but has a lower rating of 1.3. For those interested in Catholic education, St. Bernard's Catholic School and Patrick Fogarty Catholic Secondary School are available, although they currently have no ratings. Overall, this area provides a variety of educational options, ensuring that families can find suitable schools for their children.