Orillia is HOT! Legal duplex with multi-plex potential, VACANT POSSESSION, quick close: $475,000

Debbie5708

Real Estate Entrepreneur
REIN Member
Excellent centrally located legal raised bungalow duplex with tremendous opportunity for conversion to triplex, and potential addition of further units in the future. On bus route, 2 blocks to the lakefront, 10 min walk from downtown.

Current configuration:
- Loft apartment is one bedroom with gas fireplace, quaint and cozy, approx.600 sq ft.
- Main floor 2-bedroom unit with formal living room, kitchen and walk-out to patio from the dining room. Approx. 1000 sq ft. New click vinyl flooring installed in bathroom, 2020. Large walk-in shower.
- Currently, basement is partially finished.

Benefits of this property:
- Huge potential with large size lot, 73’ frontage and 105’ depth, ideal for additional units and parking in the back. This already explored potential with the City of Orillia.
- Separately metered, tenants pay hydro.
- Large well-maintained back yard, and curb appeal front yard.
- Many recent upgrades including waterproofing of basement and addition of sump pump in 2018. Brand new fridge in loft apartment, 2020. New gas hot water boiler heating and on-demand hot water, 2017. New windows, steel roof.

Complete 2020 Feasibility Study for change of use to triplex,
and possibly further units, available with accepted offer.

Highlights of the 2020 Triplex Feasibility Study include:

- Step-by-step guidance for approval of plans with City of Orillia, including:
- Zoning, Upgrading Existing Building Services
- Property considerations including:
- existing building compatibility, parking requirements and recommendations
- Design considerations including:
- existing and recommended floor plan drawings for main floor and addition of 3-bdrm 1000 sq ft basement unit, recommended site plan, including addition of common laundry room and new parking configurations to meet City regulations
- Estimated financial considerations regarding development charges, permits,
renovation costs, landscaping costs

….and much more!


Contact Debbie at antrimcapital@gmail.com, 705-790-2333.
 
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