380 Bayview Parkway

If you’re on the lookout for a prime investment opportunity, then look no further than this stunning Multi-Family Home for sale in Orillia , located at 380 Bayview Parkway, Orillia. This exceptional property is a purpose-built multiplex that has been newly renovated just two years ago, making it a turn-key investment that’s ready to go. With its fantastic location and impressive features, this Multi-Family Home for sale in Orillia is sure to catch your eye.

Situated at 380 Bayview Parkway, Orillia, this building boasts a stylish two-storey design clad in durable vinyl siding, making it both attractive and low-maintenance. The property features a generous lot size of 90 x 135 feet, providing ample space for the tenants. With a total of nine rooms, including eight bedrooms and one den, this multiplex is perfect for accommodating a variety of tenants. Each of the four two-bedroom units and the studio unit comes with its own kitchen and full bathroom, ensuring comfort and convenience for all occupants. The Multi-Family Home for sale in Orillia truly offers a fantastic living arrangement for its residents.

One of the standout features of this property is its impressive cash flow. Currently occupied by triple A tenants, the property yields a remarkable income of $94,140, resulting in an excellent cap rate. With operating costs at just $17,653, this makes for a very attractive investment. The units have all been updated with commercial-grade flooring, new kitchens, and bathrooms, all completed in 2023. This means that you won’t have to worry about any immediate renovations or repairs, allowing you to focus on maximising your investment.

As you explore the features of this Multi-Family Home for sale in Orillia, you’ll appreciate the thoughtful details that have been put into its maintenance. The building is equipped with a steel roof and new breaker panels, along with separate hydro meters for each tenant, ensuring that everything runs smoothly. The heating is provided by baseboard units in the bedrooms, while window air conditioning units keep the living areas comfortable during the warmer months. However, do note that there is no central vacuum system, fireplace, or family room, but the layout of the property makes it easy to navigate and enjoy.

Located right across the street from the picturesque lake, 380 Bayview Parkway, Orillia, is not only a beautiful place to live but also a convenient one. The property is just minutes away from Highway 12 and the vibrant downtown area of Orillia, making it easy for tenants to access shops, restaurants, and entertainment. This prime location is part of the revitalisation of Orillia, which adds even more value to this Multi-Family Home for sale in Orillia.

With no garage space available, the property does offer front yard parking that can accommodate up to ten vehicles, making it convenient for tenants with cars. Although there is no pool or additional land, the benefits of this property far outweigh these factors. The community of Orillia is thriving, and this multiplex is zoned C4i, presenting a wealth of potential uses for a savvy investor looking to make the most of their investment.

In summary, if you’re searching for a lucrative investment opportunity, the Multi-Family Home for sale in Orillia at 380 Bayview Parkway, Orillia, is an exceptional choice. With its low maintenance costs, strong cash flow, and recent renovations, this property is a must-see. Don’t miss out on the chance to own a piece of Orillia’s growing market. For more information, including financials and additional pictures, be sure to get in touch!

Orillia, nestled in the heart of Ontario, is a charming city that beautifully straddles the shores of Lake Couchiching and the Severn River. Known for its picturesque landscapes and vibrant waterfront, this community offers a delightful blend of natural beauty and urban amenities. Residents can enjoy a plethora of recreational activities, from boating and fishing in the summer to snowmobiling and ice fishing in the winter. The city's rich cultural scene is highlighted by its festivals, art galleries, and live music events, fostering a strong sense of local pride. With its friendly atmosphere, well-maintained parks, and a range of shops and restaurants, Orillia provides a welcoming environment for those seeking a balanced lifestyle amidst stunning surroundings.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. The closest school is St. Bernard's Catholic School, just 0.6 km away, offering a Catholic education for grades JK to 8. Regent Park Public School, also nearby at 0.9 km, provides elementary education in both English and French, catering to students from JK to grade 8, although it has a lower school rating of 1.3. For secondary education, Orillia Secondary School, located 3.4 km away, has a solid rating of 5.7, serving grades 9 to 12. Additionally, Harriett Todd Public School, 3.2 km away, offers French instruction for grades 1 to 4 and has a respectable rating of 5.5. Twin Lakes Secondary School is another option at 3.5 km, focusing on French for grade 9 with a rating of 5.1. Overall, this area offers a variety of educational choices, including both public and Catholic schools, ensuring that families have access to quality education within a reasonable distance from their new home.

Key Statistics of the Neighbourhood

The demographic profile of the area surrounding the property reveals a small, mature community with a population of 744 residents and an average household size of 2. The average age of residents is 59.7 years, indicating a predominantly older demographic. Financially, the area showcases a robust average household income of $115,200, with only 6.6% of the population classified as low-income. The average property price stands at $810,000, reflecting the area's desirability. A significant portion of the population is single, comprising 34.51%, while households with children represent 17.65%. The community is also diverse, with 16.79% of residents being immigrants. Renters make up 12.68% of the population, and 36.62% of the housing stock consists of condominiums. Educational attainment is notably high, with 56.25% of residents holding a college or university degree. However, a substantial 62.5% of the population is not actively participating in the labor force, which may reflect retirement or other lifestyle choices. Overall, this area offers a unique blend of stability, educational achievement, and a relatively affluent community.