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.
So to say it's uninhabitable is an understatement.
There's holes in the floor, water damage everywhere, and it also looks like there was a fire at some point.
This baby would need a lot of work to get it back to a liveable state.
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.
But, crucially, 18 Gifford St. is not a Heritage Designated Property.
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.
Despite all this, realtor Theda Lean notes in the listing that this is still a great investment opportunity.
"[It] is a diamond in the rough waiting to be restored, renovated or transformed to its highest and best possible use."
The derelict home is a 14-bedroom and eight-bathroom property – so it could easily become a multiplex to be rented out.
"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.
Not to mention the return on investment and the rental income for this property would be significant.
The home is currently being sold "as is, where is" and is listed for just $1.
However, this pricing tactic is just to create a bidding war and the home will probably go for over $2 million.
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.
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