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Live Rent Free. Triplex in Orillia for Sale in Orillia, Ontario

Tired of paying rent and not getting ahead?
As the owner of this income property, let your tenants pay the mortgage and you live rent free! Well maintained, profitable triplex income property in Orillia, live in one of three apartments, or rent out all three. Centrally located on Nottawasaga St near Victoria park, bus routes, farmers market, hospital, new library and downtown shopping. Private sale.
Lot size: 198' x 41'
Solid red brick, 2 story building with stone foundation
New forced air gas furnace
Recently renovated Ikea kitchen
Newer roofing in excellent shape
Large treed lot
Storage shed, 6 x 9 metal on pads
Gravel driveway and large parking lot for 5 cars
2 water heaters, 1 gas rental, 1 owned new electric
Apt 1 ? 1 bedroom, ground floor, separate entrance, newly renovated Ikea kitchen, arched bay windows in living room, carpeted throughout except vinyl kitchen floor, 9 ft ceilings
Apt 2 ? bachelor, ground floor, separate entrance.
Apt 3 ? 2 bedroom, 2nd floor, 9 ft ceilings, separate entrance with porch, refinished wood floors, 2nd floor balcony, claw foot bathtub/shower, pedastal sink,
All apartments are currently occupied, excellent long term tenants. Rental income $2125/mth
Building expenses - Hydro, Gas, Water, Water heater rental and property taxes, less than $600 a month.
Cost to purchase building: $285,000.
With a minimum 5% down payment of $14,250 (CHMC mortgage insurance approx.$7400, for a total of $21,650).
Total mortgage of $270,250.
A 5 year term at 3.39%, amortized over 25 years would require a monthly payment of $1333.63. Rental income more than covers your mortgage payment. Downpayment, interest rate, term and amortization will vary depending on your circustances.
Income +$2125
Expenses -$ 600
Mortgage -$1334
Remaining +$ 191
More pictures available at
Contact: 705- for an appointment to view.

Type: Houses for sale
Province: Ontario 
City: Orillia 
Category: Houses for sale
Houses for sale in Ontario
This ad is older than 2 months.
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