385 & 387 West Street N Orillia, Ontario L3V 5E7
$1,499,000
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:63244)
Business
| Business Type | Residential |
| Business Sub Type | Apartments |
Property Details
| MLS® Number | S12479016 |
| Property Type | Multi-family |
| Community Name | Orillia |
| Amenities Near By | Highway, Public Transit |
| Parking Space Total | 12 |
Building
| Bedrooms Total | 5 |
| Age | 51 To 99 Years |
| Cooling Type | None |
| Heating Fuel | Natural Gas |
| Heating Type | Forced Air |
| Size Interior | 2700 Sqft |
| Type | Multi-family |
| Utility Water | Municipal Water |
Land
| Acreage | No |
| Land Amenities | Highway, Public Transit |
| Sewer | Sanitary Sewer |
| Size Depth | 257 Ft ,10 In |
| Size Frontage | 190 Ft |
| Size Irregular | 190 X 257.9 Ft |
| Size Total Text | 190 X 257.9 Ft |
| Zoning Description | R4-8i |
https://www.realtor.ca/real-estate/29025864/385-387-west-street-n-orillia-orillia
Interested?
Contact us for more information
The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. The trademark DDF® is owned by The Canadian Real Estate Association (CREA) and identifies CREA's Data Distribution Facility (DDF®)
October 23 2025 07:47:11
Toronto Real Estate Board
Royal LePage Ignite Realty