You can buy an entire apartment building in Toronto for $7.5 million

Most people don't have $7.5 million to spend, but if you did, you could either get a very very nice house, or an entire apartment building in South Central Etobicoke. 

Both clearly have their selling points, but it is truly wild that you could buy either a place for 24 families to live or just a single family home for the same amount of money. 

Anyway, 65 Cloverhill Rd. is a 24-unit apartment building on a generous half-acre of land that is currently listed for $7,500,000. 

The front of the building. 

It consists of 13 two-bedroom units, 10 one-bedroom units and only one bachelor unit. 

The laundry room. 

It also comes with 12 garages, 22 surface parking spots, coin laundry, and lockers for each apartment. 

The foyer.

Each unit is also separately metred for hydro, which is nice. 

A bedroom in one of the units. 

In terms of rental income, there's potential, but according to the listing this building has an "ultra low vacancy rate."

A living room and dining room in one of the units. 

This normally would be a good thing, but coming in as a new owner means most units probably won't be at market rate. 

Another bedroom in an apartment. 

And when rental prices are averaging at $3,413 for a two-bedroom and $2,620 for a one-bedroom, most potential owners want the market rate.

A bedroom with a balcony walk-out. 

That said, this neighbourhood is a bit below average in terms of rental rates so maybe the difference won't be too bad.

A kitchen in one of the units. 

In terms of the condition, the building is one of those older low-rise apartment structures.

A balcony. 

And while the listing does mention updates, none are super recent. 

The parking situation. 

The listing notes the balcony railings, fire alarm, and lighting were retrofitted in 1996, the windows upgraded in 2002, the gas boiler was updated in 2010, the roof  and parking area in 2007, the garage door in 2012, the hotwater tank in 2013, and the common area lighting was done in 2015. 

The utility room. 

The windows, boiler, and hot water tank are all coming up to their expected lifespan, so you may be looking at a hefty bill in the next five or so years. 

The front entrance. 

Even with all that in mind, it's rare for an apartment building like this to come on the market, and for the right buyer it could be a good investment property, especially as rent continues to go up in this city.