19 South Street

Welcome to this excellent investment opportunity located at 19 South Street, Orillia, a highly sought-after neighbourhood in the charming city of Orillia. This well-maintained legal triplex, classified as a Multi-Family Home for sale in Orillia , offers immediate rental income alongside significant future potential. With approved plans for a fourth unit already in the works, this property is a fantastic prospect for both seasoned investors and those looking to enter the rental market.

As you approach the property at 19 South Street, Orillia, you'll notice its attractive aluminium siding and the spacious lot measuring 75 x 107 feet. This two-storey multiplex is designed to accommodate multiple families comfortably, making it an ideal Multi-Family Home for sale in Orillia. The property boasts a total of 16 rooms, including three well-appointed bedrooms and three bathrooms, ensuring ample space for residents. Each of the three kitchens is fully equipped, although there is no additional kitchen, providing convenience for all units.

The upper level features two large, bright one-bedroom units, each with independent laundry facilities, freshly painted interiors, and updated flooring. These units are currently vacant and move-in ready, making them perfect for optimising your rental strategy or for owner occupancy. The modern bathrooms in these units add a touch of luxury, making them highly appealing to prospective tenants.

On the main floor, you'll find the third one-bedroom unit, which is currently occupied by a reliable long-term tenant paying market rent. This stability adds to the attractiveness of this Multi-Family Home for sale in Orillia, as it provides immediate income while also allowing for future enhancements. Additionally, the main floor includes a large storage area that has been roughed-in and presents clear potential for conversion into that much-anticipated fourth unit, as outlined in the attached plans.

The property also features a full utility room, adding to its functionality. While there is no central vacuum system or air conditioning, the baseboard heating ensures warmth during the colder months. The absence of a pool and fireplace may be noted, but the property compensates with its practical amenities, including three separate hydro meters and private entrances for each unit.

Parking is never an issue here, with front yard parking available for up to seven vehicles, ensuring that all tenants have dedicated space. The detached garage offers additional storage options, although it does not provide parking space.

The location of 19 South Street, Orillia, is truly prime, situated close to shopping, public transit, the hospital, and parks, making it an attractive option for families and individuals alike. This Multi-Family Home for sale in Orillia is not just a property; it is a versatile, income-producing asset in a strong and stable rental area.

Whether you are looking to expand your existing portfolio or are entering the investment market for the first time, this property represents a unique opportunity. With the potential for future growth and the immediate benefits of rental income, 19 South Street, Orillia, is a must-see for anyone serious about property investment. Don't miss out on this chance to own a piece of Orillia's thriving rental market with this exceptional Multi-Family Home for sale in Orillia.

Orillia, nestled between the picturesque shores of Lake Couchiching and Lake Simcoe in Ontario, is a charming city that boasts a vibrant and welcoming atmosphere. This scenic locale is renowned for its rich cultural heritage, with a lively arts scene, numerous festivals, and a variety of recreational activities, including boating, fishing, and hiking in the surrounding natural beauty. The city's historic downtown area is dotted with quaint shops, cafés, and restaurants, creating a delightful environment for residents and visitors alike. With its strong sense of community spirit and access to both urban amenities and stunning outdoor landscapes, Orillia offers an appealing blend of small-town charm and modern convenience for those looking to make it their home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is Orchard Park Public School, just 0.3 km away, offering elementary education (JK to 8) with a strong rating of 5. Orillia Secondary School, located 0.7 km from the property, serves grades 9 to 12 and boasts an impressive rating of 5.7. For those seeking French-language education, Harriett Todd Public School (2.3 km away) and Regent Park Public School (3.4 km away) provide options for elementary grades, although Regent Park has a lower rating of 1.3. Twin Lakes Secondary School, also offering French instruction for grade 9, is situated 2.7 km away and has a rating of 5.1. Additionally, Monsignor Lee Catholic School (0.7 km) and Patrick Fogarty Catholic Secondary School (1.0 km) cater to Catholic education, though both have lower ratings. Overall, the area is well-served by a variety of public and Catholic schools, ensuring quality education options for children of all ages within a short distance from the property.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 422 residents and an average household size of 2. The average age of residents is 50 years, indicating a mature population. The average household income stands at $71,000, with 17% of the population classified as low-income. The real estate market shows an average property price of $510,000, reflecting the area's desirability. Notably, 55.26% of the residents are single, while 27.27% live in households with children. The community has a significant portion of renters, accounting for 48.84%, and there are no condominiums available. Education levels are relatively high, with 42.67% of residents holding a college or university degree. Additionally, 10.59% of the population are immigrants, contributing to the area's diversity. However, a considerable 52% of the population is not in the labor force, which may impact local economic dynamics. Overall, this area presents a blend of stability and potential, appealing to both families and individuals seeking a community-oriented environment.