Two abandoned Toronto properties are going for $875K each

You know when a Toronto listing has exactly one photo and describes itself as an "incredible investment opportunity," it's almost guaranteed to be the most suspicious-looking property you've ever seen.

Case in point: two abandoned properties on Ridelle Avenue have hit the market for $875,000 each.

The neighbouring properties at 592 and 594 Ridelle Ave., located in Toronto's North York area, are being sold together as a package deal.

And from the lone listing photo, it's honestly hard to tell exactly what you're looking at.

It's unclear whether this is a semi-detached house with a shared attached garage or one very confused property with a massive garage taking up an entire lot.

Either way, if you're interested, you'll need to buy both matching 25-by-122-foot lots.

Because apparently Toronto real estate now comes in Costco-sized bundles.

Aside from the garage — which appears to have fully embraced nature with a tree growing out of it — the main selling point here is the residential multiple zoning, which means there's redevelopment potential if you've got deep enough pockets, enough patience to survive Toronto's permit process, and the emotional resilience to endure approximately seven years of construction delays.

The listing makes it very clear this is all about land value.

And honestly, fair enough.

From the looks of it, these houses gave up on functioning as actual homes quite some time ago.

The rusted gutters, boarded-up basement windows, visibly wonky roofline, and the "No Trespassing" signs strung across the driveway on Google Street View are all sending a very clear message.

Still, the location is pretty solid.

Homes in the area typically sell for around $1.3 million to upwards of $2.5 million, and the properties are within walking distance of the Eglinton West subway station, the Eglinton Crosstown LRT, shopping, schools, parks, restaurants, and the Beltline Trail.

Basically, if you're going to drop millions on abandoned properties, at least they're abandoned in a convenient neighbourhood.

What makes this listing especially peak Toronto, though, is the pricing history.

The pair first hit the market back in 2025 for $1.1 million each.

After apparently discovering that buyers were not exactly clamouring to spend over a million dollars on teardown specials, the sellers dropped the asking price to $999,000.

They still sat unsold for more than a year.

Now they're back at $875,000 each, which technically makes this a discount.

A very Toronto-style discount, where "saving money" still means casually spending $1.75 million before you even think about building anything.

For developers or investors betting on the area's long-term growth — especially with transit expansion on the horizon — these lots could eventually make sense.

But for the average person casually scrolling listings and daydreaming about homeownership, it's yet another reminder that in Toronto, even houses that look one strong gust of wind away from collapse can still carry a price tag that could fund several perfectly decent homes pretty much anywhere else in Canada.