TORONTO -- A man in his 50s has died in hospital after he was stabbed outside of a Parkdale apartment complex on Monday afternoon.

Police said the incident happened in the area of Jameson Avenue and King Street just before 2 p.m.

When officers arrived on scene at 182 Jameson Avenue, they located a man suffering from stab wounds.

The man was rushed to hospital with life-threatening injuries, but later died in hospital, according to police.

Speaking to CTV News Toronto, residents in the aprtment building said they heard a man screaming for help at the time of the incident.

"All I heard was screaming, and then I went outside," Ursual Harris, the building's superintendent, said.

"I was in my apartment when I heard him screaming and I came down stairs and I saw him there," Wayne MacIntosh, a friend of the victim, said.

"And then I saw him with the stab wound," MacIntosh added.

Police said that they are looking for a male suspect who fled the the area on foot. No other suspect informatiioin is available at this time.

Homicide detectives have since taken over the investigation.

Anyone with information is being asked to contact police directly or leave an anonymous tip through Crime Stoppers.

With files from Tracy Tong.