200 Edward Street

Nestled in the heart of Orillia, at 200 Edward Street, this exceptional Multi-Family Home for sale in Orillia presents a fantastic opportunity for savvy real estate investors. This legal triplex is conveniently located just a minute's walk from Soldiers Memorial Hospital, making it an ideal spot for tenants seeking proximity to essential services. With a total of three units, two of which are currently vacant, there’s tremendous potential for increasing rental income from day one. The third unit can also be made vacant upon closing, allowing you to set rents at market rates immediately.

The building itself is a charming two-storey multiplex, featuring a durable and attractive vinyl siding exterior. The property boasts a generous lot size of 50 x 132 feet, providing ample outdoor space for tenants to enjoy. Although there is no basement, garage, or pool, the private driveway accommodates up to six vehicles, ensuring that parking will never be an issue for residents or their guests.

As you step inside, you'll find a total of eight rooms across the three units, including two kitchens and two dens, which offer versatility for various living arrangements. Each unit is separately metered, allowing tenants to manage their own hydro bills, which can significantly reduce your expenses as a landlord. The heating system is forced air, providing efficient warmth during the colder months. While there is no central vacuum system or air conditioning, the property does come equipped with internet access, ensuring that all units remain connected.

The basement unit features two bedrooms and one four-piece bathroom, along with a kitchen and a living room. This unit is currently vacant, making it an excellent opportunity for new tenants. The ceramic floors throughout add a touch of elegance and are easy to maintain.

The rear unit is a cosy one-bedroom space, complete with a four-piece bathroom, a large living room, and in-suite laundry facilities. Freshly painted and with laminate flooring, this unit is also vacant and ready for immediate occupancy.

The front unit spans two levels and includes one bedroom, a four-piece bathroom, a living room, and a kitchen, along with in-suite laundry. While this unit is currently occupied, it can be vacated at closing if required, giving you the flexibility to adjust your rental strategy. Each unit is equipped with gas wall furnaces, ensuring that tenants remain warm and comfortable throughout the winter months.

The outdoor space is a highlight of this Multi-Family Home for sale in Orillia. The large, mature backyard provides a lovely area for tenants to relax and unwind, adding to the appeal of the property. The strong location is a significant advantage, being just steps away from schools, businesses, and downtown amenities, as well as being conveniently situated on a bus route. This makes it an attractive option for quality tenants looking for a place to call home.

In summary, 200 Edward Street, Orillia, offers a unique investment opportunity with its three-unit layout, excellent location, and potential for increased rental income. This Multi-Family Home for sale in Orillia is perfect for those looking to make a smart investment in a thriving community. With the ability to set market rents from day one and attract quality tenants, this property is sure to be a wise addition to your portfolio. Don’t miss out on this chance to own a piece of Orillia real estate!

Orillia, nestled in the heart of Ontario, Canada, is a charming city renowned for its picturesque lakeside setting along the shores of Lake Couchiching and the Trent-Severn Waterway. This vibrant community boasts a rich cultural heritage, with a delightful blend of historic architecture and modern amenities. Residents enjoy a variety of recreational activities, from boating and fishing in the summer to snowshoeing and ice fishing in the winter. The city is also home to a thriving arts scene, with numerous festivals, galleries, and live music events throughout the year. With its friendly atmosphere, stunning natural beauty, and a strong sense of local pride, Orillia offers an inviting environment for those seeking a welcoming place to call home.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an excellent choice for families. Within just 0.8 km, you'll find Harriett Todd Public School, which offers both English and French programs for elementary students from JK to grade 8, boasting a solid school rating of 5.5. Twin Lakes Secondary School, situated 1.2 km away, provides a comprehensive curriculum for grades 9 to 12 in both English and French, with a rating of 5.1. Additionally, Regent Park Public School is located 2.3 km from the property, offering French language instruction for grades 5 to 8, although it has a lower rating of 1.3. For those interested in Catholic education, Monsignor Lee Catholic School is 2.4 km away for JK to grade 8, while Patrick Fogarty Catholic Secondary School is 2.7 km away for grades 9 to 12, though both have received a rating of 0. Overall, the area offers a mix of public and Catholic schools, catering to diverse educational needs and preferences, ensuring your children have access to quality education within a short distance from home.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small community with a population of 412 residents and an average household size of 2.3 individuals. The average age of residents is 40.1 years, indicating a mature population. The average household income stands at $65,000, with 19.6% of the population classified as low-income. The real estate market reflects an average property price of $550,000, and a significant portion of the population, 57.75%, is single. Families are present, with 45% of households having children. The area has a diverse demographic, with 10.13% of residents being immigrants. Nearly half of the residents, 48.57%, are renters, while there are no condominiums in the vicinity. Education levels are relatively high, with 43.28% of the population holding a college or university degree. However, a notable 44.78% of residents are not in the labor force, which may impact the local economy. Overall, this community presents a blend of young families and singles, with a mix of renters and homeowners, contributing to a vibrant neighborhood atmosphere.