339 St Jean Street in Orillia, Ontario
Build your portfolio with this solid performer. Two-story legal non-conforming 4 plex in desirable Orillia northward location. 2 two bedrooms & 2 one bedrooms consistently fully occupied. Opportunity for substantial rental increases with tenant turnover. Current cap rate of 7%.
Very nice floor plans , some upgraded window and flooring , new siding on the back half of the building, a steel roofing in excellent condition. Original home was built in 1920, a equal size back addition was built in 1970. A Large forced air gas furnace serves front two units and newer forced air furnace is in back lower unit.
Solid income with ample opportunity to improve with some updates. You love the major bonus a 11.2 Kw Solar system. Its like having a fifth unit in the building. The solar annual income fluctuates from $ 6,000 to 10,000 per year.
Rear parking, Fenced rear yard. Property is walking distance to the lake side park, a popular local strip mall , restaurants and Food Land Grocery. Ask Michael for profit and loss statements for 2019. A home and investment all in one with lower insured interest rate. Possible take back for the serious investor.