116 ALBERT STREET S, Orillia

$599,000

For sale: Multiplex

Multiplex at 116 ALBERT STREET S, Orillia
Property type
Triplex
Bedrooms / bathrooms
4 bedrooms, 3 bathrooms
Living area
2,000 sqft
MLS®
MLS® S14081642
Neighbourhood
Orillia

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.

Sold data

Multiplex homes in Orillia — recent sold market

Multiplex homes in Orillia took a median of 31 days to sell over the last 730 days, with the quickest quarter selling within 20 days and the slowest quarter taking more than 54, across 40 recorded sales.

That clock counts only the listing each home finally sold on. Measured from the first time these properties came to market, including any earlier listings that were withdrawn and re-entered, the median is 69 days.

The median sale price was $616,950.

Homes sold for about 4.7% below asking on average, so there was room to negotiate.

About 2% of sales closed above the list price.

Around 12% of sellers reduced their price before finding a buyer.

Median days to sell
31
Median sale price
$616,950
Sale-to-list ratio
95.3%
Sold above asking
3%

Based on 40 recorded sales in the last 2 years — a small sample, so treat these figures as indicative. Aggregate statistics only; individual sale prices are not shown.

Schools

Schools in Orillia

Orillia has 14 Fraser Institute–rated schools (11 elementary and 3 secondary), averaging 5.1/10.

Rated schools
14
Elementary
11
Secondary
3
Average rating
5.1 / 10

Top-rated schools in Orillia

  • Notre Dame — elementaryFraser rating 6.1/10
  • Marchmont — elementaryFraser rating 6.0/10
  • Harriett Todd — elementaryFraser rating 5.8/10
  • Monsignor Lee — elementaryFraser rating 5.6/10
  • St Bernard's — elementaryFraser rating 5.6/10
  • Ardtrea/Cumberland Beach — elementaryFraser rating 5.5/10

School ratings from the Fraser Institute's Ontario school report cards.

Currently for sale

Homes for sale near 116 ALBERT STREET S