Check out this great investment opportunity. Existing Legal duplex with 2 x 2 bedroom units, potential to create a smaller 3rd unit. Two existing apartments with separate hydro meters. Current building sits on a large in town double lot. Due to City of Orillia zoning changes, this property would be approved for 16 units in two buildings, initial conversations with City of Orillia have taken place to clarify the City's position on increasing residential density in this Orillia neighbourhood. Ideally located across the road from a large complex of rental units, with ongoing expansion. Great for Investors and Developers alike, to build and re-sell Or retain in your investment portfolio as ongoing Income property. Buy now with immediate Income and let the current Rental Income carry the costs, while City of Orillia processes for approvals takes place. Lots of potential for this property. Ideally located within close proximity and walking distance to the hospital, quaint downtown Orillia offering cafes, restaurants, banks and shopping, and within a few steps to the new Orillia Recreation Centre. Orillia is quickly growing, why not become part of the growth and build your Investment portfolio. Buyer is responsible for all City of Orillia processes and costs for the approval of change of use and permits. (id:47423)
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Detailed Information
Bedrooms
4
Bathrooms
2
Lot
110 x 118 ft
Amenities Nearby
Golf Nearby, Hospital, Marina, Park, Place of Worship, Public Transit, Schools, Shopping
Listing Contract Date
2024-06-14
Location Description
West St. to Barrie Rd. West.
Ownership Type
Freehold
# of Parking Spaces
4
Property Type
Multi-family
Transaction Type
For sale
Zoning Description
R2
Building
Basement Development
Unfinished
Basement Type
Partial (Unfinished)
Constructed Date
1920
Cooling Type
None
Exterior Finish
Vinyl siding
Fire Protection
Smoke Detectors
Foundation Type
Block
Heating Fuel
Natural gas
Heating Type
Baseboard heaters, Forced air
Stories Total
2
Type
Duplex
Utility Water
Municipal water
Land
Total Size
0.32 acres
Access Type
Road access, Highway access
Amenities
Golf Nearby, Hospital, Marina, Park, Place of Worship, Public Transit, Schools, Shopping
Sewer
Municipal sewage system
Size of Irregular Land
0.32
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