Description
Check out this outstanding investment opportunity featuring zoning and permitted use information available in the documents section. This legal duplex offers two well-appointed 2-bedroom units, each with its own hydro meter, with potential to create a smaller third unit subject to municipal approval. The property sits on a large in-town double lot, providing excellent long-term development and income potential for savvy investors or developers. Located directly across from an expanding rental complex, this property is positioned in a high-demand area that supports continued rental growth. The existing income stream allows you to carry the property while the City approval process for future changes or improvements is underway, making it an ideal buy-now-and-hold investment. Current monthly income $3,100.00, long term Tenants. Conveniently situated in Orillia, the property is within walking distance to the hospital, downtown core with its charming cafes, restaurants, banks, and shopping, as well as the recreation centre, all of which contribute to strong tenant appeal. As Orillia continues to experience steady growth, this is a great opportunity to become part of the city's expanding real estate market. The buyer is responsible for all municipal processes and associated costs related to zoning verification, change of use, and permit approvals. This is a versatile property with significant potential for income generation, development, or long-term investment holding. (id:13843)
Details
| MLS # | S12856768 |
|---|---|
| Listing Type | For Sale |
| Status | Active |
| Days On Site | 233 |
| Listing Provided By | CENTURY 21 B.J. ROTH REALTY LTD. | ERNA COLLINS |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 1,100 |
| Basement | Y |
| Story(s) | 2 |
| Zoning | R2 |
Interior
| Cooling | None |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Two stoves, Water Heater, Two Refrigerators |
| Fireplace Yes / No | No |
Exterior
| Foundation Details | Block |
|---|
Parking
| Parking Features | No Garage |
|---|---|
| Parking Total | 4 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3779.37 |
|---|
Area Information
| Province | ON |
|---|---|
| City | Orillia |
| Postal Code | L3V2R1 |
| Listing VS Median (in L3V2R1) | |
Price: $499,999 low | high Med: $499,999 sqft: 1,100 low | high Med: 1,100 $ / sqft: $455 low | high Med: $455 On site: 233 low | high Med: 233 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Orillia |
| Postal Code | L3V2R1 |
| Listing VS Median (in L3V2R1) | |
Price: $499,999 low | high Med: $499,999 sqft: 1,100 low | high Med: 1,100 $ / sqft: $455 low | high Med: $455 On site: 233 low | high Med: 233 | |