184 Borland Street
Orillia, ON
- 5,474 sqft
- Investment
- 141 days on market
This property performs and turns heads. 184 Borland St E presents a rare opportunity to acquire a renovated, well-maintained multi-residential asset in one of Orillia's most established neighbourhoods. Located in the prestigious and highly valued East Ward on a large in-town lot, this is a clean, stabilized investment with a proven track record of performance.The property consists of 6 legal residential units plus flex space delivering solid 6+ income streams with strong in-place tenancy and a historically low vacancy rate. Over the past three years, vacancy has been minimal, with near full occupancy outside of brief renovation periods.Based on 2026 projections from actuals, the property generates a Net Operating Income of $96,266.92 and is offered at $1,550,000, representing a 6.21% cap rate. Operating expenses of $30,946.36 reflect a combination of actual and projected costs, resulting in an efficient and well-controlled expense profile.Ownership has completed extensive capital improvements including renovated units, updated hallways, plumbing upgrades, lighting improvements, and the replacement of both owned hot water tanks in 2025. The asset has been actively improved with a focus on long-term performance and tenant retention.Recent leasing activity confirms strong rental demand, with a one-bedroom unit leased at $1,700 and a three-bedroom at $2,000. Current rents align with market levels while still offering room for gradual growth.Additional income from laundry and parking further supports overall returns, and the property benefits from a balanced tenant mix of long-term and newer occupants.Strong numbers, low vacancy rate, and a fully improved asset in a growing Simcoe County market make this a compelling turnkey investment with immediate cash flow and continued upside.
Listing Details
- Taxes (2026)
- $10,628
- Originally Listed
- $1,550,000
- Listed
- April 22, 2026
Price History
Listing history
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Property
- Lot Size
- 92.67 x 206.17 Feet
Parking
- Garage
- None
Location & Legal
- Cross Street
- Canice St
- Zoning
- R2
- Parcel Number
- 586590103
- Possession
- Immediate
- Occupancy
- Tenant
Property Insights
AI-generated from listing photos. Not professional advice.
Community
Postal area L3V
- Population
- 48,651
- Private dwellings
- 22,293
- Median age
- 47.6
- Average household size
- 2.3
- Median household income
- $77,500
Source: Statistics Canada, 2021 Census of Population, catalogue 98-401-X2021013. Adapted from Statistics Canada. This does not constitute an endorsement by Statistics Canada of this product.
Local market
Commercial in Orillia · last 12 months
- Median sold price
- $590,000
- Homes sold
- 538
- Median days on market
- 27
- Sale-to-list price
- 96.4%
Based on 538 recorded sales of commercial properties in Orillia over the last 12 months.
Listed by
CENTURY 21 B.J. ROTH REALTY LTD.
Walk Score
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Location
Street View
Commercial figures
- Building area
- 5,474 sq ft
- Price per sq ft
- $274.02
- Annual property tax
- $10,628
- Tax per sq ft
- $1.94
Derived from the listing's own figures. Taxes are as reported by the listing brokerage and may be a prior year.
Reita | Assistant
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Reita is an automated assistant, not a licensed real estate agent. This listing mentions The asset has been actively improved with a focus on long-term performance and tenant retention.Recent leasing activity confirms strong rental demand, with a one-bedroom unit leased at $1,700 and a three-bedroom at $2,000.. I can help you explore neighbourhoods, understand the market, and find our free tools. What are you looking for?