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240 CLAYBORNE PLACE, Orillia — listed at $989,000. Earn buyer cashback at closing. No catches, just more money in your pocket.
An excellent opportunity to start or expand your investment portfolio! Less than a five-minute drive to the waterfront, this professionally managed Orillia fourplex features four self-contained apartments, including two 2-bedroom units and two 1-bedroom units. Each suite is separately metered for hydro, with tenants paying their own electricity. Two units have been updated with refreshed interiors, while the remaining two offer potential for future improvements. Existing tenancies provide rental income from day one, with two suites currently rented below market, offering long-term income growth potential through future tenant turnover and renovations. Parking for six vehicles out front adds convenience for residents, while a generous rear yard provides outdoor space to enjoy. Whether you're purchasing your first multi-unit property or adding to an existing portfolio, this fourplex offers a compelling combination of established income, future potential and proximity to the waterfront. Income and Expenses available (id:60164)
What's the parking situation?+
This property includes 6 spaces — No Garage.
What are the ongoing costs beyond the mortgage?+
Budget for annual property taxes of $5,516, heating is baseboard heaters, electric. Always verify the latest figures with your agent before making an offer — these change yearly.
How is the space laid out across floors?+
This is a 2-storey multi-family. The 6 bedrooms and 4 bathrooms are typically split with living areas on the main floor and bedrooms above — confirm the exact layout during a showing.
How is the home heated? Is it efficient?+
Heating is baseboard heaters, electric. Electric heating can mean higher winter bills — ask for past utility statements.
Does it have a basement, and is it finished?+
The listing describes the basement as: Crawl space. Confirm the finishing status during a showing — it affects both livable space and resale value.
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.
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