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Orillia, ON L3V 5E7,387 West ST N
Orillia, ON L3V 5E7,387 West ST N
Orillia, ON L3V 5E7,387 West ST N
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$799,000
Est. payment /mo
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5 Beds
5 Baths
New

387 West ST N Orillia, ON L3V 5E7

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Jasmine Lee

Jasmine Lee

+1(416) 875-4880

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Key Details

Property Type Multi-Family

Sub Type Multiplex

Listing Status Active

Purchase Type For Sale

Approx. Sqft 1500-2000

Subdivision Orillia

MLS Listing ID S12474832

Style 2-Storey

Bedrooms 5

Annual Tax Amount $4,762

Tax Year 2025

Property Sub-Type Multiplex

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!!! 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.

Location

Province ON

County Simcoe

Community Orillia

Area Simcoe

Rooms

Family Room No

Basement None

Kitchen 5

Interior

Interior Features None

Heating Yes

Cooling Window Unit(s)

Fireplaces Type Living Room

Fireplace Yes

Heat Source Gas

Exterior

Exterior Feature Year Round Living

Parking Features Front Yard Parking, Circular Drive

Pool None

View City, Downtown

Roof Type Asphalt Shingle

Lot Frontage 91.98

Lot Depth 257.9

Total Parking Spaces 7

Building

Building Age 100+

Unit Features Golf,Hospital,Library,Place Of Worship,Public Transit,School

Foundation Stone

Others

ParcelsYN No

Listed by ROYAL LEPAGE IGNITE REALTY
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Jasmine Lee

Jasmine Lee

Real Estate Broker & Team Leader | License ID: 9517861

+1(416) 875-4880

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387 West ST N

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