Get $1,498 Cash Back
116 ALBERT STREET S, Orillia — listed at $599,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
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. (id:60164)
| Room | Level | Dimensions |
|---|---|---|
| Kitchen | Main level | 3.3 x 2.65 meters |
| Living room | Main level | 3.11 x 2.22 meters |
| Bedroom | Main level | 3.32 x 2.18 meters |
| Kitchen | Main level | 5.94 x 3.95 meters |
| Den | Main level | 2.67 x 1.58 meters |
| Bedroom | Main level | 3.56 x 3.11 meters |
| Kitchen | Upper Level | 3.37 x 2.89 meters |
| Living room | Upper Level | 5 x 3.38 meters |
| Bedroom | Upper Level | 4.14 x 2.8 meters |
| Bedroom | Upper Level | 2.83 x 2.15 meters |
How is the home heated? Is it efficient?+
Heating is forced air, natural gas. Gas heating is generally the most cost-efficient option in Ontario winters.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $3,326, heating is forced air, natural gas. Always verify the latest figures with your agent before making an offer — these change yearly.
Does it have a basement, and is it finished?+
Yes — Unfinished, Full. A finished basement adds meaningful living space beyond the listed square footage.
Is there air conditioning?+
No central cooling is listed. Budget for portable or window units, or get a quote for adding central air — typically $5,000–$10,000 installed.
Is this a good starter home?+
At $599,000, this is priced in starter-home territory for Orillia. With multiple bedrooms, it has room to grow into. Factor in property taxes when calculating your true monthly cost.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 4 bedrooms and 3 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
Ask About This Property
Nearby Places
Searching nearby places…
Benchmark price · Updated 2026-09
Year over year
Past 10 years
Similar listings
For Sale76 days33
For Sale39 days22
For Sale8 days8
For Sale17 days13
The listing data above is provided under copyright by the Canadian Real Estate Association. While the information is considered reliable, its accuracy is not guaranteed by the Canadian Real Estate Association or getsetsold.ca. Neither getsetsold.ca nor its affiliates make any representations or warranties, express or implied, regarding the accuracy or completeness of the information presented here.