390 Mississaga Street W,Orillia, ON L3V3C5
Orillia, ON L3V3C5
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. (id:374)
Details
| MLS # | S13775546 |
|---|---|
| Listing Type | For Sale |
| Style | House |
| Status | Active |
| Days On Site | 51 |
| Listing Provided By | RE/MAX REALTY ENTERPRISES INC. | ANDRE FREHN |
Features
| Bed(s) | 4 |
|---|---|
| Bath(s) | 2 Total |
| SQ Feet | 700 |
| Car Port | Yes |
| Basement | Y |
| Story(s) | 1 |
| Zoning | R2 |
Interior
| Cooling | Central air conditioning |
|---|---|
| Heating | Forced air, Natural gas |
| Appliances | Washer, Refrigerator, Water meter, Stove, Dryer, Water Heater |
| Fireplace Yes / No | No |
Exterior
| Lot Features | Flat site, Level, Carpet Free |
|---|---|
| Foundation Details | Block |
Parking
| Parking Features | Carport, No Garage, Tandem |
|---|---|
| Parking Total | 3 |
Utilities
| Utilities | Sewer, Electricity, Cable |
|---|---|
| Sewer | Sanitary sewer |
| Water Source | Municipal water |
Taxes
| Tax Annual Amount | 3265.37 |
|---|---|
| Tax Year | 2026 |
Area Information
| Province | ON |
|---|---|
| City | Orillia |
| Postal Code | L3V3C5 |
| Listing VS Median (in L3V3C5) | |
Price: $599,000 low | high Med: $599,000 sqft: 700 low | high Med: 700 $ / sqft: $856 low | high Med: $856 On site: 51 low | high Med: 51 | |
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Learn More About This Property
| Province | ON |
|---|---|
| City | Orillia |
| Postal Code | L3V3C5 |
| Listing VS Median (in L3V3C5) | |
Price: $599,000 low | high Med: $599,000 sqft: 700 low | high Med: 700 $ / sqft: $856 low | high Med: $856 On site: 51 low | high Med: 51 | |
