REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 599,999
Est. payment /mo
New
143 Colborne ST W Orillia, ON L3V 5B8
4 Beds
3 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 1100-1500
Subdivision Orillia
MLS Listing ID S13010518
Style 2-Storey
Bedrooms 4
Annual Tax Amount $3,140
Tax Year 2025
Property Sub-Type Triplex
Property Description
Positioned directly beside Orillia Soldiers' Memorial Hospital, this fully legal triplex offers a rare combination of strong cash flow, flexible zoning, and long term upside. With projected rental income exceeding $5,000 per month, this property stands out as a strategic investment opportunity.The building features three self contained units, including a newly finished basement apartment and a renovated two bedroom suite with updated windows and doors. In total, the property offers one two bedroom unit and two one bedroom units, appealing to a wide range of tenants in a high demand rental area driven by healthcare and local amenities.Set on a generously sized lot, there is ample space to explore the addition of a garage or accessory structure, adding further value. Parking for four or more vehicles enhances tenant convenience.Zoned HC2, one of the most versatile designations in Orillia, this property opens the door to a variety of permitted uses beyond residential, giving investors flexibility for future repositioning or mixed use potential.Located just minutes from downtown Orillia, tenants will enjoy easy access to the waterfront, parks, shops, and everyday essentials, along with quick connections to Highways 11 and 12 for commuters.This is a rare opportunity to secure a high performing, legally designated triplex in a location that supports both strong rental demand and future growth.
Location
Province ON
County Simcoe
Area Simcoe
Zoning HC2 Health Care Two (see attachment)
Rooms
Basement Apartment, Finished with Walk-Out
Kitchen 3
Interior
Interior Features On Demand Water Heater
Cooling None
Inclusions All Elf's, Existing Window Coverings, Appliances; 3 Fridges, 3 Stoves, Stacked Washer & Dryer. 2 Separate Panels and Meters.
Exterior
Parking Features None
Pool None
Roof Type Flat,Metal
Total Parking Spaces 4
Building
Building Age 51-99
Foundation Concrete
Lited by HOMELIFE/MIRACLE REALTY LTD