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$ 1,499,000
Est. payment | /mo
5 Beds
2,700 SqFt
$ 1,499,000
Est. payment | /mo
5 Beds
2,700 SqFt
Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
Square Footage 2,700 sqft
Price per Sqft $555
Subdivision Orillia
MLS® Listing ID S12479016
Bedrooms 5
Source Toronto Regional Real Estate Board
Property Description
Excellent Investment Opportunity! 387 West St N is being sold together with 385 West St N - both properties must be purchased as a package. 385 West St N features 3 fully rented units. 387 West St N features 5 fully rented units. All tenants on month-to-month terms paying market-value rents. Together, these properties offer a strong, stable income stream and great future development potential. Positive cashflow!! While you get your development plan ready you will also generate a positive cashflow!! Intensification Area Land! Fabulous Investment Opportunity! City of Orillia Official Plan has been consolidated on June 2nd, 2025. All tenants willing to stay. Great Property Manager who takes care of all aspects of the property. Handsfree investment opportunity. The property offer a 190' Frontage By 257' depth (1.12 acres) suitable for redevelopment. The site is located within Orillia's "Intensification Area" designation - a zoning context aimed at supporting higher-density, mixed-use development. Under the City of Orillia Official Plan consolidated on June 2nd, 2025 for the Intensification Area, permitted uses include: - Stand alone multiple unit residential buildings, including all forms of townhouses and apartment buildings - Mixed use buildings combining residential units with retail, service, or office uses - Tourist accommodations, live work units, communal housing (with ancillary services) - Home occupations, elementary & secondary schools, places of worship (Church etc.), child care facilities, stand alone retail/restaurant/office/service commercial uses - Additional dwellings in existing residential dwellings, parks & recreation facilities, and public & private utilities. A Minute Away From Hwy 11. The Convenience Of Shopping, Tim Horton's, Business Depot & Canadian Tire. Close by to Golf, Parks, Baseball diamond and play grounds. Less Than 2 km From Lakehead University. Close To Orillia Square Shopping Center. Right Beside Orchard Park Public School. (id:24570)
Location
Province ON
Rooms
Kitchen 0.0
Interior
Heating Forced air
Cooling None
Exterior
Parking Features No
View Y/N No
Total Parking Spaces 12
Private Pool No
Building
Sewer Sanitary sewer
Listed by ROYAL LEPAGE IGNITE REALTY
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "