116 Albert Street
Orillia, ON
- 4 bed
- 3 bath
- approx. 1500-2000 sqft
- Triplex
Top 5 Reasons You Will Love This Home: 1) Discover an exceptional opportunity to invest in the heart of Orillia with this legal triplex, offering three residential units and exciting income potential, including a beautifully renovated, vacant suite that provides the flexibility to move right in or welcome a new tenant at current market rental rates 2) Take advantage of a prime downtown location where shopping, restaurants, grocery stores, healthcare services, and everyday conveniences are all within easy reach, complemented by nearby waterfront attractions and the beautiful shores of Lake Couchiching, creating an appealing setting for both residents and prospective tenants 3) Move forward with confidence knowing several significant improvements have already been completed, including a brand-new furnace (2026), updated eavestroughs (2025), and a newer roof (2024), while two modernized suites, including one recently renovated and vacant unit, add to the property's overall appeal and functionality 4) Whether you're looking to expand your investment portfolio or offset your mortgage by living in one unit while renting the others, this versatile property presents an attractive opportunity with projected annual rental income approaching $50,000, offering the potential to generate revenue while building long-term equity 5) Explore the possibilities of this income-producing property with a detailed revenue and expense statement available upon request, providing valuable financial insight for prospective buyers looking to make an informed investment in Orillia's rental market. 1,943 above grade sq.ft. plus an unfinished basement. *Please note some images have been virtually staged to show the potential of the home.
Virtual Tour
Virtual Tour Available
Listing Details
- Taxes (2025)
- $3,326
- Listed
- October 15, 2026
Price History
Listing history
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Property
- Style
- 2-Storey
- Age
- 100+
- Construction
- Brick
- Roof
- Asphalt Shingle
- Foundation
- Stone
- Interior
- None
- Lot Size
- 69.69 x 88.62 Feet
Parking
- Garage
- None
- Covered Spaces
- 0
- Total Parking
- 3
Utilities
- Sewer
- Sewer
- Heat Source
- Gas
Location & Legal
- Cross Street
- Barrie Rd/Albert St S
- Zoning
- M2
- Parcel Number
- 586440109
- Possession
- Immediate
- Occupancy
- Tenant
Included
- Inclusions
- Fridge (x3), Stove (x3), Washer, Dryer.
Schools
Elementary
- Lions Oval Public School1 km
Public · Simcoe County DSB · 440 students
Grade 3 reading: 63% met the provincial standard · Grade 6 math: 47% met the provincial standard
- Harriett Todd Public School1.2 km
Public · Simcoe County DSB · 470 students
Grade 3 reading: 31% met the provincial standard · Grade 6 math: 50% met the provincial standard
- Monsignor Lee Separate School1.5 km
Catholic · Simcoe Muskoka CDSB · 395 students
Grade 3 reading: 53% met the provincial standard · Grade 6 math: 53% met the provincial standard
Secondary
- Orillia Secondary School1.5 km
Public · Simcoe County DSB · 1275 students
Grade 10 literacy: 83% met the provincial standard
- Twin Lakes Secondary School1.6 km
Public · Simcoe County DSB · 835 students
Grade 10 literacy: 85% met the provincial standard
- Patrick Fogarty Catholic Secondary School2.7 km
Catholic · Simcoe Muskoka CDSB · 720 students
Grade 10 literacy: 83% met the provincial standard
Straight-line distance. Nearby schools are not necessarily the assigned schools — confirm catchment with the school board. Scores are EQAO provincial test results for 2024-2025.
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
Residential Freehold in Orillia · last 12 months
- Median sold price
- $575,000
- Homes sold
- 523
- Median days on market
- 27
- Sale-to-list price
- 96.2%
Based on 523 recorded sales of residential freehold properties in Orillia over the last 12 months.
Rooms
2 × 3-piece on Main, 4-piece on Upper
Upper
- Bedroom13'7" x 9'2"
- Bedroom9'3" x 7'1"
- Kitchen11'1" x 9'6"
- Living Room16'5" x 11'1"
Main
- Bedroom10'11" x 7'2"
- Bedroom11'8" x 10'2"
- Den8'9" x 5'2"
- Kitchen19'6" x 13'
- Kitchen10'10" x 8'8"
- Living Room10'2" x 7'3"
Listed by
FARIS TEAM REAL ESTATE BROKERAGE
Walk Score
Walk
Bike
Scores by Walk Score®
Location
Street View
Mortgage Calculator
$119,800
Estimated Monthly Payment
$2,943
Land transfer tax
Ontario land transfer tax only. An estimate — not legal or financial advice. Municipal land transfer tax applies in Toronto and is not included.
Investment Analysis
No recent nearby lease data. Enter a rent to see the numbers.
Mortgage: $2,943/mo (20% down, 5.5%)
Taxes: $277/mo · Insurance: $150/mo
Estimates only. Consult a financial advisor.
Reita | Assistant
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