New Listing
390 W Mississauga Street W,Orillia, ON L3V 3C5
Orillia, ON L3V 3C5
Description
390 Mississauga St W, Orillia - Oversized R2 Lot with Severance & Value-Add Upside. An opportunity built for investors, builders, and value-add buyers. This 3-bedroom, 2-bathroom bungalow sits on a rare 90 x 114.75 ft lot - over 10,000 square feet, close to double the size of many neighbouring parcels - in an established, high-demand Orillia neighbourhood serviced by municipal water and sewer. The numbers tell the story. Recent comparable sales in the immediate area range to the high $700s, with 3-bedroom homes trading around $600,000 and typically selling within a month. The property currently carries low holding costs, with annual taxes near $3,300 - attractive for a buy, improve, and reposition strategy.The real upside is the land. With wide frontage and significant depth, the lot holds potential for a two-lot severance into two serviced R2 building lots, subject to City of Orillia approval - a path that could unlock aggregate land value well above a single as-is sale. Alternatively, hold and rent, or execute a cosmetic renovation to capture the spread between as-is pricing and updated comparables. Multiple exit strategies, one address: Value-add flip - refresh finishes, resell to the owner-occupier market or live in Sever & build - pursue consent for a second building lot (pending municipal approval) Buy & hold - solid bones, low carrying costs, strong rental demand near downtown and Lake Couchiching Built in 1964 with a functional single-level layout, full basement, and 2-car carport, this is a genuine land-and-location play in a market with proven, steady demand. Priced as-is to reflect its upside. Bring your strategy - book your private viewing today.
Details
| MLS # | S13775546 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Sub-Type | Resale |
| Status | New |
| Year | 0 |
| Days On Site | 1 |
| Listing Provided By | RE/MAX REALTY ENTERPRISES INC. | S13775546 692805 |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 |
| Car Port | Yes |
| Basement | Y |
| Acreage | 0.24 |
| Water Front | None |
Interior
| Interior Features | Carpet Free, Primary Bedroom - Main Floor, Water Heater Owned |
|---|---|
| Lease To Own Equipment | None |
| Cooling | Central Air |
| Heat Source | Gas |
| Fireplace Yes / No | No |
Exterior
| Exterior Features | Canopy, Deck, Year Round Living |
|---|---|
| Roof | Metal, Asphalt Shingle |
| Foundation Details | Block |
| Topography | Flat, Level |
| Construction Materials | Aluminum Siding |
| Security Features | None |
Parking
| Garage Yes / No | No |
|---|---|
| Parking Features | Private, Tandem |
Utilities
| Sewer | Sewer |
|---|
Taxes
| Tax Annual Amount | 3265.37 |
|---|---|
| Tax Assessed Value | 216000 |
| Tax Legal Description | PT LT 48 N/S Mississauga St PL 426 South Orillia As IN R0184691; Orillia |
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| County | Simcoe |
| City | Orillia |
| Postal Code | L3V 3C5 |
| Area | Orillia |
| Listing VS Median (in L3V 3C5) | |
Price: $645,000 low | high Med: $0 On site: 1 low | high Med: | |
Request a showing
Request a showing
Contact
Learn More About This Property
| Province | ON |
|---|---|
| County | Simcoe |
| City | Orillia |
| Postal Code | L3V 3C5 |
| Area | Orillia |
| Listing VS Median (in L3V 3C5) | |
Price: $645,000 low | high Med: $0 On site: 1 low | high Med: | |
