For Sale: 588 Ossington Avenue, Toronto, ON - REW
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$1,699,000
3 + 2 bd • 4 ba • 2000 - 2500 sf • Townhouse
588 Ossington Avenue
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$1,699,000
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588 Ossington AvenueToronto, ON, M6G 3T5

Palmerston-Little Italy
  • 3 + 2 Bed
  • 4 Bath
  • 2000 - 2500 Sqft
  • Townhouse

About this home

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.
Listed by: Vinay Lakhani, Salesperson, RE/MAX REALTRON REALTY INC.

Home facts and features

Price details
List Price
$1,699,000
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Gross Taxes for 2025
$9,637
Home facts
Bedrooms
3 + 2
Full Bathrooms
4
Parking Spaces
2
Property Type
Townhouse
Exterior Finish
Brick
Heating Type
Forced Air, Gas
Cooling
Central Air
Basement Details
Finished, Separate Entrance
Community
Agent details
Primary Agent
Vinay Lakhani
Primary Broker
RE/MAX REALTRON REALTY INC.
Secondary Agent
Stephanie Lima
Secondary Broker
RE/MAX REALTRON REALTY INC.
Listing details
Days on REW
18 Days
Property Views
35
MLS® Number
C13162902
Source
Toronto Real Estate Board
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25 Years
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Property Insights

Dewson Street Junior Public School
  • Public
  • JK - 6
Central Toronto Academy
  • Public
  • 9 - 12
Montrose School
  • Public
  • JK - 6
St Mary Catholic Academy Secondary School
  • Catholic
  • 9 - 12
Ossington/Old Orchard Junior Public School
  • Public
  • JK - 6
The Orchard Montessori School Ltd. (Elem
  • Private
  • 1 - 6
Pope Francis Catholic School
  • Catholic
  • JK - 8
St Francis of Assisi Catholic School
  • Catholic
  • JK - 8
St Raymond Catholic School
  • Catholic
  • JK - 8
Clinton Street Junior Public School
  • Public
  • JK - 6
School catchments and distances are intended to be used as reference only. To verify enrolment eligibility for a property, contact the school directly.Report Incorrect Info
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Call Agent
Salesperson
Vinay Lakhani
Phone:
(905) 832-6656
Office:
416-222-2600
Salesperson
Stephanie Lima
Phone:
647-226-8834
Office:
416-222-2600
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By proceeding, you consent to receive communications using the methods provided, from REW.ca and our partners about your inquiry and other home-related matters to assist you in your search, but not as a condition of any purchase.