380 BAYVIEW PARKWAY, Orillia, Ontario, L3V3Y2

Property Description

Looking for a turn key investment that was newly renovated just 2 years ago? This is an exceptional purpose built 5-plex with very low maintenance costs (only 22 years old), featuring four 2-bedrooms units and 1 studio unit, all with 1 kitchen and 1 full bathroom. Occupied with triple A tenants, this property yields very strong cash flow ($94,140), resulting in an excellent cap rate. All units were renovated with commercial grade flooring (2023), new kitchens (2023) and bathrooms (2023). An easy building to maintain with a steel roof, vinyl siding, new breaker panels and separate hydro meters for all tenants (2023), and low operating costs ($17,653). Baseboard heating in bedrooms & heat/air conditioner unit in the living rooms. Located right across the street from the lake, and conveniently located just minutes from Hwy 12 and downtown Orillia, this is an opportunity to buy and benefit from the revitalization of Orillia. This property is zoned C4i, which offers a ton of potential uses for a savy investor. (id:64974)

Quick Facts

• Property Type: Other
• Bedrooms: 9 (8 above, 1 below)
• Bathrooms: 5
• Parking: 10 spaces (No Garage)
• Frontage: 90 ft (27.4 m)

Costs

• Annual Taxes: $8,087.86

Listing Provided by: CREA DDF® Member Brokerage
Board: Toronto Regional Real Estate Board
Data provided via CREA DDF®.