Cabbagetown is one of Toronto's most vibrant neighbourhoods, with a number of popular restaurants and a bustling nightlife.

The diverse neighbourhood is a homebuyer's dream, but this mixed-use property smack dab in the middle of all the action is going to cost even an investor a pretty penny.

The property is located on 480-490 Parliament Street and faces one of Toronto's highest vehicular and pedestrian traffic strips, and comes with six adjacent mixed-use commercial buildings.

All the commercial and residential units have been meticulously renovated and well maintained.

There's even the potential to build additional spaces for future businesses or residential units for even more income.

The stretch of units is located just a short walk from popular restaurants, bars, shops, and Castle Frank station.

The property boasts 21,020 square feet of living space, 16 bathrooms, and a new roof.

PhoSOME Restaurant, Souvlaki Express, Parliament Street Fitness, and Meridian Credit Union are some of the businesses located on the property.

The residential units vary significantly in style, with some opting for a more industrial exposed brick feel, and others taking a modern approach with light wooden cabinets and bright airy windows.

Most of the residential units come with ample kitchen space, as well as existing light fixtures and appliances.

The property is currently listed at a whopping $16.5 million.