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$1,699,000

Est. payment - /mo

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5 Beds

4 Baths

New

588 Ossington AVE Toronto C01, ON M6G 3T5

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Kenneth Yim

ken@broadviewavenue.ca +1(416) 906-0080

UPDATED:

Key Details

Property Type Townhouse

Sub Type Att/Row/Townhouse

Listing Status Active

Purchase Type For Sale

Approx. Sqft 2000-2500

Municipality Toronto C01

Subdivision Palmerston-Little Italy

MLS Listing ID C13162902

Style 2 1/2 Storey

Bedrooms 5

Annual Tax Amount $9,637

Tax Year 2025

Property Sub-Type Att/Row/Townhouse

Lot Depth 127.0

Lot Front 19.06

Property 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, cafes, 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.

Location

Province ON

County Toronto

Community Toronto C01

Area Toronto

Rooms

Family Room Yes

Basement Finished, Separate Entrance

Kitchen 4

Separate Den/Office 2

Interior

Interior Features None

Cooling Central Air

Fireplace No

Heat Source Gas

Exterior

Parking Features None

Garage Spaces 2.0

Pool None

Roof Type Asphalt Shingle

Lot Frontage 19.06

Lot Depth 127.0

Total Parking Spaces 2

Building

Foundation Unknown

Others

ParcelsYN No

Virtual Tour https://unbranded.youriguide.com/588_ossington_ave_toronto_on/

Listed by RE/MAX REALTRON REALTY INC.

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Kenneth Yim

Broker of Record | License ID: 9524831

+1(416) 906-0080

NEARBY SCHOOL & BUSINESS

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