14
See all 14 photos
$699,000
Est. payment /mo
4 Beds
3 Baths
New
385 West ST N Orillia, ON L3V 5E7
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Key Details
Property Type Multi-Family
Sub Type Triplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 700-1100
Subdivision Orillia
MLS Listing ID S12474818
Style Bungalow
Bedrooms 4
Annual Tax Amount $5,003
Tax Year 2025
Property Sub-Type Triplex
Property Description
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!!! 385 West St N features 3 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 98' Frontage By 257' depth (0.57 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.
Location
Province ON
County Simcoe
Community Orillia
Area Simcoe
Rooms
Family Room No
Basement None
Kitchen 3
Interior
Interior Features None
Heating Yes
Cooling None
Fireplace No
Heat Source Gas
Exterior
Exterior Feature Year Round Living
Pool None
View City, Downtown
Roof Type Asphalt Shingle
Lot Frontage 97.43
Lot Depth 257.85
Total Parking Spaces 5
Building
Building Age 51-99
Unit Features Golf,Hospital,Library,Place Of Worship,Public Transit,School
Foundation Block
Others
ParcelsYN No
Listed by ROYAL LEPAGE IGNITE REALTY
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