Two rundown Toronto houses hit the market for whopping $2.7 million

The homes are located at 140 The Queensway in Toronto. (Realtor.ca)

TORONTO -

Two houses in Toronto that are described as being "rundown" and "sold in as in condition" have hit the market for a whopping $2.7 million.

The homes, located in Etobicoke at 140 The Queensway and built on the same lot, are selling for $2.75 million. 

The listing doesn't try to hide the current conditions of the houses either, describing them as "two rundown houses."

According to the listing, the property is located in a "prime location" and is in front of a plaza, which includes a Shoppers Drug Mart. 

The listing says the homes are currently zoned as residential but there is "great potential for redevelopment."

Property taxes for the homes costs $6,000 annually. 

Last month, a piece of land with nothing on it besides grass and dirt hit the market in Toronto for nearly $1 million. 

Like property at 140 The Queensway, the reason these listing have such high prices is their land value. 

The Queensway listening is situated on a 64.5 x 128 foot lot. 

If the home was rezoned as retail, the prospective buyer could tear down the homes and turn it into a business. 

The average price of a detached home in Toronto is now well over $1.75 million.