184 Borland Street East presents an exceptional opportunity to acquire a renovated six-unit multi-residential investment property in Orillia’s highly desirable East Ward. Set on a large in-town lot, this turnkey asset delivers immediate cash flow, dependable performance, and long-term upside.

The property includes six legal residential units plus additional flex space, creating six-plus income streams. Strong in-place tenancy and a consistently low vacancy rate have supported reliable returns. In fact, the property has remained nearly fully occupied over the past three years, with vacancies occurring only during renovation periods.

Based on projected 2026 financials, the property generates a Net Operating Income of $96,266.92 and is offered at $1,550,000, representing an attractive 6.21% cap rate. Operating expenses remain well controlled, resulting in an efficient investment with proven financial performance.

Ownership has invested heavily in the property. Renovated suites, updated common hallways, plumbing improvements, modern lighting, and the replacement of both owned hot water tanks in 2025 demonstrate a commitment to long-term value. As a result, the building offers a clean, well-maintained environment that attracts and retains quality tenants.

Recent leasing activity also highlights the strength of the local rental market. A one-bedroom suite leased for $1,700 per month, while a three-bedroom suite leased for $2,000 per month. In addition, income from laundry and parking provides further revenue and strengthens overall returns.

Located in one of Orillia’s most established neighbourhoods, the property sits close to downtown, schools, parks, shopping, public transit, and the waterfront. Whether you’re expanding an existing portfolio or purchasing your first multi-residential asset, 184 Borland Street East offers strong cash flow, low vacancy, quality improvements, and excellent long-term investment potential.

Learn more about the City of Orillia:
https://www.orillia.ca