On top of a hill in Caledon is a 38-acre plot of land with a log cabin with possibly the best view of Toronto. 

The view of Toronto from the property. 

With sweeping, unobstructed views of the Toronto-Mississauga skyline and Lake Ontario 17537 Hurontario Street is, as listing agent Kris Rose puts it, "the best lot in all of Caledon". 

The property also generates income. An 80-ft phone pole in the woods brings in $2,000/month and a cell tower on the property produces aproximately $1,700/month.

Listed for $4,999,900, the price is all tied to the land and the location – the home, not so much. 

A view of Mississauga from the property. 

In fact, Rose makes it clear in the listing that this is a build-new type property. 

The bright living room. 

"[The] current home is in great shape and easily livable during the time you apply for [a] permit and build your new dream home," he writes. 

One of the bedrooms. 

Still the A-frame cabin, while rustic and a bit cottage-core, is actually quite a nice place to live for a tear-down home. 

The giant windows that look out over the land flood the main living area with natural light and the natural wood throughout add a bit of charm. 

The primary bedroom. 

But nevertheless for $5 million it is pretty basic with only three bedrooms and three bathrooms. 

The kitchen. 

The kitchen is fine but nothing fancy and the bathrooms are very dated – it was built-in 1999 after all. 

The basement. 

There's lots of space in the basement but again nothing special. 

A view of the pool and back of the cabin. 

There is also a pool and hot tub on the property.

The large deck with a hot tub. 

But the listing does say the hot tub is in "as is condition", which might mean it's on its last legs. 

One of the bathrooms. 

So considering all that I could definitely see why a developer or builder might be inclined to start fresh. 

Another bedroom. 

Also Sir Elton John is reportedly a neighbour right across the road – so whoever lives here is going to have to compete with that. 

A view of the kitchen and dining area. 

Even though at one point the artist denied having a property in Caledon so it's still unclear if you would see Sir John in a bathrobe fetching the paper or not. 

That view though!

But let's be honest there are better views at this place than a 74-year-old British man in a bathrobe no matter how famous he is.