1311 Pape Ave., otherwise known as the David Smith House, is one of Toronto's "grandest" 19th-century residences. 

According to the Inventory of Historical Buildings in East York, written by the East York Local Architectural Advisory Committee in 1982, the home (and 9.78 acres of land) were originally purchased by David Smith in 1875 for a grand total of $2,400. 

The side of the house. 

Ah, the 1800s. What a time to get into real estate! 

The home is a prime example of Victorian Gothic architecture, which was very trendy from 1860—1890, notes the document. 

The back of the house with parking spots. 

"The gable trim, or bargeboard, is massive and strong, thus differentiating itself from the lighter gingerbread of the Gothic Revival archetype," writes the committee. 

Some of the original windows and window heads. 

"The Victorian style, recognized for its polychromatic structures, is represented in this building by cream-coloured window heads which contrast the red-orange brick and highlight the lines of the windows."

A kitchen in one of the units. 

The home remained in the Smith family until 1928, when the Smith's only son passed. 

A living room in one unit. 

Since then, it has likely gone through many families. At some point, it was subdivided into 10-apartments and is now listed for $4,449,000. 

A bathroom in a unit. 

While the building is a bit run down in the current tenanted state, you can still see some of the grander elements of the house throughout. 

A little display shelf that is original to the house. 

For example, there are original windows, original crown mouldings and other cool features you can only find in historic homes. 

The lobby. 

And while the home does have heritage status, it isn't being sold to restore. 

One of the units. 

"A rare investment opportunity in downtown Toronto, in a prime location for real estate investments due to its high demand and potential for growth," reads the listing.

The surrounding property. 

So even though 1311 Pape Ave. is no longer a 9.78-acre property, it's currently sitting on 0.275 acres, which for Toronto is pretty sizable, especially when you consider the additional 436-foot perimeter.

There are a total of 12 parking spaces on the property. 

This much space means it's likely going to be just another income property or a development project.   

A hallway. 

"Future development or expansion opportunities will increase the property's value in the long term, plenty of parking spaces, an absolute investor choice," reads the listing. 

The laundry. 

Additionally, the listing highlights the building's great financials, including a good cap rate, the fully-tenanted building, and the extra income from the coin laundry. 

A living room in one of the units. 

However, the specifics of that cap rate or rental income aren't posted, so it's hard to say just how great of an income property this is. 

Exposed brick is featured in one of the apartments. 

The last unit to be leased was a one-bedroom unit for $1,600 a month in May 2023, which is well below market rate for a one bedroom in Toronto. 

A small bedroom in one of the units. 

But maybe it doesn't have to be just another run-down multiplex?

All units come with appliances and amenities. 

"The house size and excellent architectural qualities, as well as rich historical value, could prove potentially useful to the community should the building be restored," says the document.

A fire escape was added when the home was turned into a multiplex. 

And we would love to see what the David Smith House could look like restored to its former, grand glory.