115 ALBERT Street S , Orillia

3 Bed / 2 Bath / $699,000 / MLS® Listing #:40118175

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ATTENTION INVESTORS! Turn key, fully renovated LEGAL DUPLEX in Orillia. Ideal location walking distance to downtown, the hospital, and moments away from the water! Main floor 2-bedroom unit currently rents for $1725 + hydro with an A++ tenant who would like to stay (Lease until July 1, 2021). The 1-bedroom upper unit currently rents out for an average of $2858/month as a lucrative short-term rental/air bnb. Large 51.33ft x 165.83 would be ideal for a garden suite to further increase income potential (Buyer to do their due diligence with the City of Orillia). New electrical and ESA report (2020), New plumbing (2019), Newer Shingles & Windows (2019), Fully Fenced yard (2020), Separate AC Units (2020), Newer Appliance (2019). The basement has been waterproofed with a French drain system with transferable warranty (2020). These two units contain their own parking, separate laundry, separate heat controls, separate hydro meters and complete occupancy report from the City of Orillia is available (2020). Projected Gross Annual income $54,996, Projected Annual Expenses $ 6,711. Projected Net Annual Income of $48,285. This property yields an estimated cap rate of 7.4% at list price. See Documents tab for additional information. (id:10452)

Property Details

Property Type Duplex
Square Feet
Maintenance N/A
Days On Our Website 75
Basement Unfinished - Crawl space (Unfinished)
Kitchens
Lot Dimensions under 1/2 acre
Pool N/A
Area Orillia
Air Conditioning Ductless
Heating Natural gas - Forced air
Exterior Brick, Vinyl siding
Sewers Municipal sewage system
Water Municipal water

Listing Office: RE/MAX Hallmark Chay Realty Brokerage



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