Completely gutted Toronto house going for almost $3 million

Just when you think Toronto real estate couldn't get any more delusional, along comes this completely gutted house in the city's west end on the market for $2,699,000.

Located at 579 Indian Rd. in High Park North, the property is currently little more than a shell after being stripped right back to the studs.

At least they left the stained glass, which feels downright generous at this price point.

A bay window with original leaded glass. 

But apparently, in Toronto, even a house that looks like it's midway through an HGTV demolition montage can still command nearly $3 million.

The front entrance. 

To be fair, there is some logic here.

The main floor. 

The property sits on an unusually large 50-by-150-foot lot in one of Toronto's most coveted west-end neighbourhoods and offers nearly 5,000 square feet of interior space.

The rear residence addition. 

Originally built in 1914, the home was later expanded with a separate rear residence attached directly to the back of the original structure, creating a sprawling and somewhat unusual layout.

The staircase. 

The current listing is leaning hard into the property's "blank canvas" potential, pitching it as everything from a dream single-family home to a multi-unit income property, multi-generational compound, live-work conversion, or even something with future garden suite or severance potential, assuming City approvals.

The second floor. 

Basically, they're selling imagination and drywall dust. 

The third floor. 

What makes the listing particularly interesting is that this place looked very different not that long ago.

The living room on the main floor. 

Back in November 2024, the same property hit the market for $2,999,999 as a fully rented five-unit multiplex that had reportedly not changed hands in 55 years.

Holes in the subfloor where plumbing once was. 

At the time, it was being marketed as a well-maintained income property with updated electrical and plumbing, a newer boiler, coin-operated laundry, hardwood floors, original period details, and immediate rental income from its occupied units.

An original fireplace. 

It also had all the usual investor catnip: four separate hydro meters, development potential, and prime transit access just steps from Bloor West Station, GO Transit, and the UP Express.

The main floor. 

When it didn't sell, the price dropped to $2,799,999 before the listing was eventually pulled.

The main floor. 

Now it's back for $2,699,000 — but with one pretty significant change: someone appears to have taken a sledgehammer to the business model.

A sunroom. 

So while technically it's now $300,000 cheaper than its original asking price, you're also no longer getting an income-generating multiplex.

The basement. 

You're getting the opportunity to spend what will almost certainly be a small fortune rebuilding it.

The garage. 

But in Toronto, proximity to a nice park apparently adds enough value to justify paying luxury-home prices for what is essentially the city's fanciest construction site.

The back of the house. 

At this point, "needs work" might be Toronto’s hottest design trend.