184 Borland Street E, Orillia, ON L3V 2C3
This property performs and turns heads. 184 Borland St E presents a rare opportunity to acquire a renovated, well-maintained multi-residential asset in one of Orillia's most established neighbourhoods. Located in the prestigious and highly valued East Ward on a large in-town lot, this is a clean, stabilized investment with a proven track record of performance.The property consists of 6 legal residential units plus flex space delivering solid 6+ income streams with strong in-place tenancy and a historically low vacancy rate. Over the past three years, vacancy has been minimal, with near full occupancy outside of brief renovation periods.Based on 2026 projections from actuals, the property generates a Net Operating Income of $96,266.92 and is offered at $1,550,000, representing a 6.21% cap rate. Operating expenses of $30,946.36 reflect a combination of actual and projected costs, resulting in an efficient and well-controlled expense profile.Ownership has completed extensive capital improvements including renovated units, updated hallways, plumbing upgrades, lighting improvements, and the replacement of both owned hot water tanks in 2025. The asset has been actively improved with a focus on long-term performance and tenant retention.Recent leasing activity confirms strong rental demand, with a one-bedroom unit leased at $1,700 and a three-bedroom at $2,000. Current rents align with market levels while still offering room for gradual growth.Additional income from laundry and parking further supports overall returns, and the property benefits from a balanced tenant mix of long-term and newer occupants.Strong numbers, low vacancy rate, and a fully improved asset in a growing Simcoe County market make this a compelling turnkey investment with immediate cash flow and continued upside.
- MLS number
- S13034698
- Type
- Investment
- Status
- Active
- Bedrooms
- —
- Bathrooms
- —
- Postal code
- L3V 2C3
- Photos
- 50
- Property tax
- $10,628 / year
This listing’s own days on market are shown above. How long the property has been for sale across every earlier listing is drawn from records the board releases only to registered users — a free account opens it, along with the sale history below.
Property details
As filed by the listing brokerage. Anything the board left blank is left out rather than shown as unknown — and none of it is guaranteed accurate by PropTx, so verify what you rely on.
Property
- Type
- Investment
- Class
- Commercial
- Community
- Orillia
- Municipality
- Orillia
- Cross street
- Canice St
- Zoning
- R2
Parking
- Driveway spaces
- 10
Land
- Lot
- 92.67 × 206.17 feet
- Shape
- Irregular
Heating, cooling and services
- Heating
- Gas Forced Air Open
- Cooling
- Partial
- Water
- Municipal
Listing
- MLS number
- S13034698
- Status
- Price Change
- Previous status
- New
- Listed on
- 2026-04-22
- Expires
- 2026-10-14
- Taxes
- $10,628 (2026)
- Board
- Toronto Regional Real Estate Board
Listing history
This address has been listed 2 times.
Where this property is
Where this address sits, matched against open government data.
Estimated from the house-number range along this road: the right block of the right street, not the exact building. No address file publishes this house.
Schools
The school boundaries this address is inside, and the schools nearest it. Boards redraw boundaries and cap programs — confirm with the board before this affects a decision.
Other schools nearby
By distance from this address, not school boundary — a school 400 m away can be in another school’s attendance area.
| School | Level | Distance | Rating |
|---|---|---|---|
| Monsignor Lee Separate School Simcoe Muskoka CDSB | Elementary | 547 m | / 10 65% met the standard |
| Keystone Montessori School | Elementary | 1.1 km | Not reported |
| Lions Oval Public School Simcoe County DSB | Elementary | 1.0 km | / 10 58% met the standard |
| Couchiching Heights Public School Simcoe County DSB | Elementary | 1.2 km | / 10 74% met the standard |
| Orchard Park Elementary School Simcoe County DSB | Elementary | 1.2 km | / 10 68% met the standard |
| Patrick Fogarty Catholic Secondary School Simcoe Muskoka CDSB | Secondary | 1.5 km | / 10 62% met the standard · 2 of 6 measures |
How the rating is calculated
EQAO — Ontario’s testing agency — publishes, for each school, the percentage of students meeting the provincial standard in Grade 3 and Grade 6 reading, writing and mathematics. The rating is the average of those percentages divided by ten. A school where 72% of students met the standard rates 7.2 out of 10.
Nothing is weighted or adjusted, and schools are not ranked against each other. Where EQAO withholds a result to protect the privacy of a small group of students, that measure is left out rather than counted as zero — so a rating built on fewer than six measures says so.
What it does not measure. It is one year of standardised testing in three subjects. It says nothing about teaching, programs, or whether a school suits a particular child, and it tracks neighbourhood household income closely enough that it partly measures the neighbourhood rather than the school. Treat it as one figure among many.
Source: Ontario Ministry of Education, School Information and Student Demographics (2024–25), Open Government Licence – Ontario.
H-Value
This neighbourhood
Statistics Canada 2021 Census, for the surrounding few blocks — about 453 people.
The neighbourhood, by the census
Statistics Canada 2021 Census for dissemination area 35431203 — the few blocks around this address, home to 453 people. It describes the area, not this property.
Percentages are of the 230 responses in this category. Statistics Canada rounds counts and withholds small ones to keep individuals unidentifiable, so categories with too few people to publish are absent rather than shown as zero.
Source: Statistics Canada, 2021 Census of Population. Contains information licensed under the Open Government Licence – Canada.
Work out the numbers
Everything below is calculated in your browser from figures you can change. Nothing is sent anywhere.
If you rented it out
How this is calculated, and what it leaves out
Canadian fixed-rate mortgages compound semi-annually, not monthly, so the monthly rate here is (1 + rate/2)1/6 − 1. Most calculators use rate ÷ 12, which is the American convention and overstates the payment by tens of dollars a month.
Below 20% down, default insurance is mandatory and is added to the loan rather than paid at closing: 2.80% at 85% loan-to-value, 3.10% at 90%, 4.00% at 95%. It is unavailable at or above $1.5M, which is why 20% is a hard floor there.
Not included: vacancy, property management, capital repairs, income tax, and the fact that a lender qualifies you at a stress-test rate rather than the one you are quoted. This is arithmetic on the numbers above, not a mortgage approval or an opinion of what you can afford.