18 Gifford Street Toronto

This horror show of a house in Toronto is listed for only $1

"Please do not attempt to go inside the interior of the property," is not something you typically read on a listing of a house, but that's exactly what the listing for 18 Gifford St. says. 

And when you see the pictures, you'll understand why this warning is there –  the Cabbagetown house is straight-up creepy. 

Built in 1925, this Arts and Craft-style home has been abandoned for the last 20 years, according to the listing. 

18 Gifford Street Toronto

A radiator precariously hanging off a wall. 

So to say it's uninhabitable is an understatement. 

18 Gifford Street Toronto

Missing floor in one unit. 

There's holes in the floor, water damage everywhere, and it also looks like there was a fire at some point.

18 Gifford Street Toronto

The remnants of a kitchen. 

This baby would need a lot of work to get it back to a liveable state.

18 Gifford Street Toronto

A hallway. 

And while it probably would be cheaper to completely demolish the home than restore it, 18 Gifford St. is a heritage home and part of the Cabbagetown Heritage Conservation District, so you can't just knock it down.

18 Gifford Street Toronto

A room with a very worn out floor. 

But, crucially, 18 Gifford St. is not a Heritage Designated Property. 

18 Gifford Street Toronto

Probably a kitchen and room at one point. 

So this means any changes or renovations in the interior are not as restricted as those in properties designated as "Heritage" – a small saving grace.

18 Gifford Street Toronto

Peeling floor and warped walls. 

Despite all this, realtor Theda Lean notes in the listing that this is still a great investment opportunity. 

18 Gifford Street Toronto

Missing ceiling. 

"[It] is a diamond in the rough waiting to be restored, renovated or transformed to its highest and best possible use."

18 Gifford Street Toronto

A bathroom. 

The derelict home is a 14-bedroom and eight-bathroom property – so it could easily become a multiplex to be rented out.

18 Gifford Street Toronto

The basement. 

"With the current housing shortage throughout the City of Toronto and the GTA, getting this property habitable should be welcome by the municipality," writes Lean. 

18 Gifford Street Toronto

Peeling walls, probably due to water damage. 

Not to mention the return on investment and the rental income for this property would be significant. 

18 Gifford Street Toronto

Missing walls and window frames. 

The home is currently being sold "as is, where is" and is listed for just $1.

18 Gifford Street Toronto

Another kitchen (probably).

However, this pricing tactic is just to create a bidding war and the home will probably go for over $2 million.

18 Gifford Street Toronto

The side of the house with missing and broken windows. 

Although, $2 million for a property this size is still a steal...at least in this city where livable homes like this go for closer to $7 million.

Lead photo by

realtor.ca


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