588 Ossington Avenue
Palmerston-Little Italy, Toronto, M6G 3T5
FOR SALE
$1,699,000
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3 + 2
BEDROOMS 4
BATHROOMS 4
KITCHENS 10 + 3
ROOMS C13162902
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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.
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Nearby Intersections
Property Features
None, None
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Property Details
Address
588 Ossington Avenue
Community
City
Postal Code
M6G 3T5
Property Type
Att/Row/Townhouse, Att/Row/Townhouse
Lot Size
19' x 127'
Taxes
$9,637 (2025
Basement
Finished, Separate Entrance
Heat Type
Forced Air
Heat Source
Gas
Water
Municipal
Garage Type
Detached
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Listing contracted with Re/Max Realtron Realty Inc.
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In the heart of Cabbagetown, this charming home boasts a perennial, three-season flowering garden and seamlessly blends classic period features with modern conveniences. The property includes a tenanted basement studio apartment, built with permits in 2019, offering potential mortgage assistance or additional income. As the end unit of three, it enjoys abundant natural light through windows on its south-facing side. The main floor kitchen, modernized in 2024 by Scavolini Design, features a full suite of Gaggenau appliances, perfect for any home chef. The lower level kitchen offers Scavolini cabinetry, stainless steel appliances, and an ensuite laundry. The second-floor family bathroom has been completely renovated with charming tile treatments, an antique washstand, and Carrera marble countertops and sink. The spacious second-floor laundry, formerly the fourth bedroom, includes a taupe laundry pair under a marble waterfall counter and three large storage cabinets which remain with the home. The largest of two second-floor bedrooms, which can also serve as a family room, features crown molding and pot lights. The primary suite, located on the top floor, was redesigned and built in 2026. It offers a soothing retreat with a blend of flooring and cabinetry, a large walk-in closet with integrated drawers, and a luxurious ensuite with a large shower, separate tub, and an oversized skylight with a view of the Toronto skyline. The suite also includes heated floors, accent lighting, and a European wall-hung towel heater. Up-to-date mechanicals ensure comfort and cost control, with infloor heating in the lower level, main floor kitchen, and primary washroom. Street parking is readily available via permit, and the small-sized lot provides an opportunity for gardening without extensive maintenance. Located within walking distance to restaurants, shopping, eclectic Parliament Street, and Riverdale Park/Farm, this home offers a perfect blend of convenience and beauty in the city
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Amazing Opportunity to Own Rare, Executive Spacious Townhouse in Davisville Village over 2000 Sq Ft Featuring Soaring 10 Ft Ceilings & Premium Hardwood Flooring Throughout, 534 sq ft Rooftop Terrace & 2 Car Tandem Garage! Kitchen Features Brand New Quartz Countertop, SS Appliances, Breakfast Bar & Open Concept. Main Floor Features Crown Mouldings, Pot Lights & Gas Fireplace w/ Built in Shelves. W/O Juliette Balcony. Fully Upgraded 3rd Floor Bath. Master BR has 5 PC Ensuite w/ Double Sink Granite Countertop & His/Her Mirror Closets. Every Room has Pot Lights. Central Air Conditioning (2025). Furnace (2024). Additional Storage in the Garage. 10 Min Walk to Subway Station, Short Walk to Yonge St, Shops & Groceries. Don't Miss out on this One!
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