588 Ossington Avenue

Toronto, ON M6G 3T5 ( Palmerston-Little Italy)

Quick Facts

Type: Att/Row/Townhouse

Style: 2 1/2 Storey

Size: Sq Ft

Age: Years

Taxes: $ 9,637 ( 2025)

Updated: 2026-05-08 21:28:15

Description

Welcome to 588 Ossington Avenue, a rare opportunity to own a dynamic, income-generating property in the heart of Palmerston-Little Italy-one of Toronto\'s most vibrant and consistently high-demand rental locations. The property is currently configured as four self-contained units, offering multiple income streams and strong flexibility for investors or end-users looking to offset carrying costs. The main floor features a spacious 1+den, 1-bath suite with additional recreational space on the lower level and direct access to a large backyard. The basement includes a separate self-contained bachelor Suite. The second level offers a bright 1+den suite with a private balcony, while the third floor hosts a well-sized 1-bedroom unit. The third-floor tenant is currently on a month-to-month basis, with the remaining units vacant-providing immediate flexibility for leasing or end-user occupancy. Based on current market conditions and rental assumptions, the property presents the potential for an attractive return profile, with cap rate performance that may approach or exceed the 5% range; buyers are advised to conduct their own due diligence. This home offers a turnkey opportunity with limited immediate capital requirements. Features include three separate hydro meters, individual climate control, updated windows, and modern interior finishes throughout. A standout feature is the two-car garage with rear laneway access, significantly enhancing both functionality and tenant appeal. Positioned just steps to Ossington\'s renowned restaurants, cafés, parks, and transit, this location supports exceptional walkability, strong rental demand, and long-term growth potential.An outstanding opportunity to secure a well-located downtown asset with income-generating potential.

Extras

Att/Row/Townhouse

Property

Status: For Sale

MLS #: C12966528

Price: $ 1,749,000

Address: 588 Ossington Avenue

Type:

Style: 2 1/2 Storey

Size: Sq Ft

Age: Years

Front On:

Taxes: $ 9,637

Tax Year: 2025

Lot Size:

Neighbourhood: Palmerston-Little Italy

Nearest Intersection: Ossington Ave & Harbord

City: Toronto

Postal Code: M6G 3T5

DOM: 15 Days

Last Update: 2026-05-08 21:28:15

 

Building

Interior

Bedrooms: 5

Bathrooms: 4

Rooms: 0

Kitchens: 4

Family Room:

Fireplace:

Basement: Finished Separate Entrance,

Central Vacuum:

 

Exterior

Exterior: Brick,

Driveway:

Garage: None

Garage Spaces:

Parking Spaces: 2.00

Pool:

 

Utilities

Electricity (Hydro):

Gas:

Phone:

Cable TV:

Heat Type: Forced Air

Heat Source: Gas

Air Conditioning: Central Air

Water:

Sewers:

 

Features

 

Rooms