Salehian.com 647-325-5000

184 Borland Street E

Orillia, Orillia, L3V 2C3

$1,500,000

Reduced $50,000 from $1,550,000

Photo 1 of 50Photo 2 of 50Photo 3 of 50Photo 4 of 50Photo 5 of 50Photo 6 of 50Photo 7 of 50Photo 8 of 50Photo 9 of 50Photo 10 of 50Photo 11 of 50Photo 12 of 50Photo 13 of 50Photo 14 of 50Photo 15 of 50Photo 16 of 50Photo 17 of 50Photo 18 of 50Photo 19 of 50Photo 20 of 50Photo 21 of 50Photo 22 of 50Photo 23 of 50Photo 24 of 50Photo 25 of 50Photo 26 of 50Photo 27 of 50Photo 28 of 50Photo 29 of 50Photo 30 of 50Photo 31 of 50Photo 32 of 50Photo 33 of 50Photo 34 of 50Photo 35 of 50Photo 36 of 50Photo 37 of 50Photo 38 of 50Photo 39 of 50Photo 40 of 50Photo 41 of 50Photo 42 of 50Photo 43 of 50Photo 44 of 50Photo 45 of 50Photo 46 of 50Photo 47 of 50Photo 48 of 50Photo 49 of 50Photo 50 of 50

Listed 179 days ago · MLS® S13034698

About this home

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.

Details

Type
Investment
Lot
92.67 × 206.17 ft
Garage
None
Property tax
$10,628 (2026)
Neighbourhood
Orillia
Municipality
Orillia

Heating, cooling and services

Heating
Gas Forced Air Open
Air conditioning
Partial
Utilities
Yes

Building and exterior

Building area
5,474 Square Feet

More

Possession
TBD
Cross street
Canice St

History of this address

1 earlier listing at this address, with sold and leased prices. Create a free account or sign in to see them.

Location

Location is approximate. See nearby homes on the map

Recent sales nearby

See what similar homes within 1 km sold for in the last year. Create a free account or sign in to see them.

The neighbourhood

Getting around Walkable

No subway, LRT or GO station within a short trip.

Within a 10-minute walk: 2 grocery stores, 6 cafés and restaurants, 3 parks, 1 pharmacy. Nearest grocery: Metro (750 m). Nearest park: Couchiching Beach Park (350 m).

Schools nearby

Elementary

  • Lions Oval Public School
    EQAO: Gr 6 reading 65%, math 47%    17 min walk
  • Couchiching Heights Public School
    EQAO: Gr 6 reading 96%, math 56%    18 min walk
  • Monsignor Lee Separate School Catholic1.2 km
  • Orchard Park Elementary School
    EQAO: Gr 6 reading 81%, math 44%    1.3 km

Secondary

  • Patrick Fogarty Secondary School Catholic
    EQAO: Gr 9 math 40%, literacy test 83%    1.4 km
  • Orillia Secondary School
    EQAO: Gr 9 math 42%, literacy test 83%    1.6 km

EQAO: share of students meeting the provincial standard (2024–25). Ontario average: Gr 6 reading 86%, math 51%; Gr 9 math 55%; literacy test 83%.

Closest schools, not school zones. Check which school serves this address with the school board before relying on it.

Who lives here postal area L3V

Owners / renters
70% / 30%
Median household income
$77,500
Average age
46
Children under 15
14%
Homes
67% detached, 5% high-rise
Commute by transit
2%
Population
48,651

Languages spoken most at home besides English: Tagalog (Pilipino, Filipino) 0.2%, Mandarin 0.2%, Yue (Cantonese) 0.2%, Gujarati 0.2%.

Flood and conservation No mapped hazard

Not inside a mapped flood plain or regulated area.

Screening maps only. Ask the conservation authority for a property inquiry before relying on this.

Safety

Crime Severity Index for Orillia (OPP): 102 vs 57 for Ontario (2025).

Police-reported figures for the whole police service area, not this street. Rates use the area’s resident population.

Distances are approximate. Places © OpenStreetMap contributors. Neighbourhood figures: Statistics Canada, 2021 Census. School results: EQAO via Ontario Data Catalogue (Open Government Licence – Ontario). Crime Severity Index: Statistics Canada.

Living here

Commute

Noise Nothing major nearby

No highway within 500 m, rail line within 300 m, or airport flight path nearby.

Distances from the map, not noise measurements. Visit at rush hour to judge for yourself.

Internet High-speed

50/10 Mbps or faster available here by cable, fibre or DSL (the federal high-speed target).

From the federal broadband map. Check exact speeds and providers for the address.

Roads, rail, airports and planned stations © OpenStreetMap contributors. Internet: Innovation, Science and Economic Development Canada, National Broadband Data.

Listed by CENTURY 21 B.J. ROTH REALTY LTD..

Listing information provided by PropTx Innovations Inc. and TRREB; deemed reliable but not guaranteed accurate by PropTx.

Similar homes nearby

See more in Orillia