$1,499,000
Available - For Sale
Listing ID: S12479016
385 & 3 West Stre North , Orillia, L3V 5E7, Simcoe
| 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. |
| Price | $1,499,000 |
| Taxes: | $9675.88 |
| Tax Type: | Annual |
| Occupancy: | Tenant |
| Address: | 385 & 3 West Stre North , Orillia, L3V 5E7, Simcoe |
| Postal Code: | L3V 5E7 |
| Province/State: | Simcoe |
| Legal Description: | PT LT 23 PL 395 SOUTH ORILLIA; PT LT 24 |
| Directions/Cross Streets: | ON-11 Orillia and West Street N. |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 0 | |
| Washroom Type 2 | 0 | |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 |
| Category: | Apartment |
| Use: | Apts - 6 To 12 Units |
| Building Percentage: | T |
| Total Area: | 2700.00 |
| Total Area Code: | Square Feet |
| Office/Appartment Area: | 2700 |
| Office/Appartment Area Code: | Sq Ft |
| Area Influences: | Major Highway Public Transit |
| Approximatly Age: | 51-99 |
| Financial Statement: | T |
| Chattels: | F |
| Franchise: | F |
| Days Open: | V |
| Employees #: | 0 |
| Expenses Actual/Estimated: | $Act |
| Sprinklers: | No |
| Washrooms: | 0 |
| Outside Storage: | T |
| Rail: | N |
| Soil Test: | No |
| Clear Height Feet: | 8 |
| Heat Type: | Gas Forced Air Close |
| Central Air Conditioning: | No |
| Sewers: | Sanitary |
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| ROYAL LEPAGE IGNITE REALTY |
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Saleem Akhtar
Sales Representative
Dir:
647-965-2957
Bus:
416-496-9220
Fax:
416-496-2144
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At a Glance:
| Type: | Com - Investment |
| Area: | Simcoe |
| Municipality: | Orillia |
| Neighbourhood: | Orillia |
| Approximate Age: | 51-99 |
| Tax: | $9,675.88 |
| Fireplace: | N |
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