$799,000
Available - For Sale
Listing ID: S12474832
387 West Street North , Orillia, L3V 5E7, Simcoe
| Intensification Area Land!. Fabulous Investment Opportunity!. City of Orillia Official Plan has been consolidated on June 2nd, 2025. Excellent Investment Opportunity! Positive cashflow!! Great future development potential!!! 387 West St N features 5 fully rented units, all on month-to-month terms with solid tenants paying market-value rents. Positive cashflow!! All tenants willing to stay. Great Property Manager who takes care of all aspects of the property. Handsfree investment opportunity. The property offer a 95' Frontage By 257' depth (0.56 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. Financials available upon request. |
| Price | $799,000 |
| Taxes: | $4762.00 |
| Occupancy: | Tenant |
| Address: | 387 West Street North , Orillia, L3V 5E7, Simcoe |
| Acreage: | .50-1.99 |
| Directions/Cross Streets: | ON-11 Orillia and West Street N. |
| Rooms: | 13 |
| Bedrooms: | 5 |
| Bedrooms +: | 0 |
| Family Room: | F |
| Basement: | None |
| Level/Floor | Room | Length(ft) | Width(ft) | Descriptions | |
| Room 1 | Ground | Kitchen | 13.12 | 12.14 | Large Window, Combined w/Living, Hardwood Floor |
| Room 2 | Ground | Bedroom | 9.84 | 8.2 | Large Window, Combined w/Living, Hardwood Floor |
| Room 3 | Ground | Living Ro | 13.12 | 12.14 | Large Window, Combined w/Kitchen, Hardwood Floor |
| Room 4 | Ground | Kitchen | 13.12 | 12.14 | Window, Hardwood Floor |
| Room 5 | Second | Bedroom | 10.82 | 9.84 | Large Window, W/O To Balcony, Laminate |
| Room 6 | Basement | Living Ro | 13.12 | 12.14 | Window, Hardwood Floor |
| Room 7 | Basement | Kitchen | 12.46 | 9.84 | Combined w/Living, Laminate, Window |
| Room 8 | Ground | Bedroom | 10.82 | 9.84 | Large Window, Laminate |
| Room 9 | Ground | Living Ro | 10.82 | 9.84 | Large Window, Laminate, Combined w/Kitchen |
| Room 10 | Second | Kitchen | 12.46 | 9.84 | Window, Combined w/Living |
| Room 11 | Second | Living Ro | 10.82 | 9.84 | Window, Combined w/Br |
| Room 12 | Second | Kitchen | 11.81 | 10.5 | Window, Laminate |
| Room 13 | Second | Living Ro | 13.45 | 8.86 | Window, Laminate, Combined w/Br |
| Washroom Type | No. of Pieces | Level |
| Washroom Type 1 | 3 | Ground |
| Washroom Type 2 | 3 | Second |
| Washroom Type 3 | 0 | |
| Washroom Type 4 | 0 | |
| Washroom Type 5 | 0 | |
| Washroom Type 6 | 3 | Ground |
| Washroom Type 7 | 3 | Second |
| Washroom Type 8 | 0 | |
| Washroom Type 9 | 0 | |
| Washroom Type 10 | 0 |
| Total Area: | 0.00 |
| Approximatly Age: | 100+ |
| Property Type: | Multiplex |
| Style: | 2-Storey |
| Exterior: | Brick, Vinyl Siding |
| Garage Type: | None |
| (Parking/)Drive: | Front Yard |
| Drive Parking Spaces: | 7 |
| Park #1 | |
| Parking Type: | Front Yard |
| Park #2 | |
| Parking Type: | Front Yard |
| Park #3 | |
| Parking Type: | Circular D |
| Pool: | None |
| Other Structures: | Shed, Storage |
| Approximatly Age: | 100+ |
| Approximatly Square Footage: | 1500-2000 |
| Property Features: | Golf, Hospital |
| CAC Included: | N |
| Water Included: | N |
| Cabel TV Included: | N |
| Common Elements Included: | N |
| Heat Included: | N |
| Parking Included: | N |
| Condo Tax Included: | N |
| Building Insurance Included: | N |
| Fireplace/Stove: | Y |
| Heat Type: | Forced Air |
| Central Air Conditioning: | Window Unit |
| Central Vac: | N |
| Laundry Level: | Syste |
| Ensuite Laundry: | F |
| Elevator Lift: | False |
| Sewers: | Sewer |
| Utilities-Cable: | Y |
| Utilities-Hydro: | Y |
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| ROYAL LEPAGE IGNITE REALTY |
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At a Glance:
| Type: | Freehold - Multiplex |
| Area: | Simcoe |
| Municipality: | Orillia |
| Neighbourhood: | Orillia |
| Style: | 2-Storey |
| Approximate Age: | 100+ |
| Tax: | $4,762 |
| Beds: | 5 |
| Baths: | 5 |
| Fireplace: | Y |
| Pool: | None |
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