Entire block in gentrifying Toronto neighbourhood for sale for $19 million

Four multifamily properties in South Parkdale have just gone up for sale for a whopping $18,750,000. 

So what would you be getting for almost $19 million?

Well, according to the Colliers Canada listing, it "presents investors with an opportunity to acquire four separate properties, totaling 64 suites, on a 0.555 acre site."

The four properties are 2, 4, 6, and 8 Laxton Avenue.

2 Laxton Ave. Toronto.

2 Laxton Ave. is a mid-rise apartment building with 52-units that was built in the early 1970s. Its claim to fame is a long history of bed bugs and roach infestations. 

8 Laxton Ave. Toronto

Meanwhile, the other buildings are old Victorian homes that have been chopped up into apartments and are currently rented out.  

What condition these places are in is a mystery since there are no photos of the interiors but from the little bits of information that have been left on the internet don't get your hopes up. 

4 Laxton Ave. Toronto.

For example, just last month there was a major fire at 4 Laxton Ave. and it's unclear how much damage there was. 

But, whoever buys this is likely going to be a developer or investor who's interested in the prime location (Queen St. W and Jameson Ave.) and the half an acre of land these buildings take up, so it probably doesn't matter too much if the properties are salvageable.  

6 Laxton Ave. Toronto

Even the listing notes: "this is a unique opportunity to reposition an apartment building in downtown Toronto."

Let's just hope whatever they do they at least get rid of the bed bugs and cockroaches...