28 West Street N Orillia, Ontario L3V 5B8
$889,000
Turnkey income opportunity in the heart of downtown Orillia. This fully legal triplex is a rare offering for investors seeking strong cash flow, low operating complexity, and long-term appreciation. Each of the three self-contained units features 2 bedrooms, 1 living space, and a 3-piece bathroom, along with a seperate laundry for each suite and all appliances inclusive (stove & fridge). Designed for tenant comfort and independence, every unit also benefits from separate gas and hydro meters, significantly reducing landlord expenses. Adding to its appeal, each unit includes 2 dedicated parking spaces 6 total -a highly desirable feature in a central downtown location.Projected rental income based on current market conditions is approximately $5,600/month ($67,200 annually), delivering a strong ~5.7%-6.0% cap rate depending on purchase price. This makes the property ideal for investors looking for immediate income with upside potential. Flexible ownership options allow you to rent all three units for maximum cash flow, or live in one unit while the others offset your mortgage, making it equally attractive for owner-investors. Situated steps to Orillia's vibrant downtown core, tenants enjoy easy access to shops, restaurants, waterfront parks, and major amenities, supporting consistent rental demand and long-term stability. A clean, efficient, income-producing asset in a growing market-this is the type of property serious investors look for. (id:63244)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | S13055234 |
| Property Type | Multi-family |
| Community Name | Orillia |
| Parking Space Total | 6 |
Building
| Bathroom Total | 3 |
| Appliances | All, Dryer, Washer |
| Cooling Type | Fully Air Conditioned |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Exterior | 3369.1 Sqft |
| Size Interior | 3369 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Size Depth | 111 Ft ,9 In |
| Size Frontage | 30 Ft |
| Size Irregular | Bldg=30 X 111.76 Ft |
| Size Total Text | Bldg=30 X 111.76 Ft |
| Zoning Description | C1 |
https://www.realtor.ca/real-estate/29669307/28-west-street-n-orillia-orillia
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April 29 2026 02:03:06
Toronto Real Estate Board
Right At Home Realty