Posted by: Mr Bed Bug in Toronto Bed Bugs on April 14th, 2022

Four multifamily properties in South Parkdale have just gone up for sale for a whopping $18,750,000.

So what would you be getting for almost $19 million?

Well, according to the Colliers Canada listing, it "presents investors with an opportunity to acquire four separate properties, totaling 64 suites, on a 0.555 acre site."

The four properties are 2, 4, 6, and 8 Laxton Avenue.

2 Laxton Ave. Toronto.

2 Laxton Ave. is a mid-rise apartment building with 52-units that was built in the early 1970s.Its claim to fame is a long history of bed bugs and roach infestations.

8 Laxton Ave. Toronto

Meanwhile, the other buildings are old Victorian homes that have been chopped up into apartments and are currently rented out.

What condition these places are in is a mystery since there are no photos of the interiorsbut from the little bits of information that have been left on the internet don't get your hopes up.

4 Laxton Ave. Toronto.

For example, just last month there was a majorfire at 4 Laxton Ave. and it's unclear how much damage there was.

But, whoever buys this is likely going to be a developer or investor who's interested in the prime location(Queen St. W and Jameson Ave.) and the half an acre of land these buildings take up,so it probably doesn't mattertoo much if the properties are salvageable.

6 Laxton Ave. Toronto

Even the listing notes: "this is a unique opportunity to reposition an apartment building in downtown Toronto."

Let's just hope whatever they do they at leastgetrid of the bed bugs and cockroaches...

The rest is here:
Entire block in gentrifying Toronto neighbourhood for sale ...

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