588 Ossington Avenue, Toronto, ON M6G 3T5
Palmerston-Little Italy · Toronto C01 · ON
About this property
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.
Property details
- MLS® Number
- C13162902
- Status
- Active / New
- Transaction
- For Sale
- Property Type
- Residential Freehold
- Property Subtype
- Att/Row/Townhouse
- Bedrooms Above Grade
- 3
- Bedrooms Below Grade
- 2
- Kitchens
- 4
- Living Area Range
- 2000-2500
- Lot Size
- Feet
- Lot Width
- 19.06
- Lot Depth
- 127.00
- Taxes
- $9,637
- Tax Year
- 2025
- Garage
- Detached
- Parking Spaces
- 0
- Parking Total
- 2.00
- Heating
- Forced Air / Gas
- Cooling
- Central Air
- Basement
- Finished, Separate Entrance
- Sewer
- Sewer
- Direction Faces
- West
- Cross Street
- Ossington Ave & Harbord
- Directions
- Ossington Ave & Harbord
- Occupancy
- Partial
Interior Features
- Interior
- None
Exterior Features
- Pool
- None
Building & Construction
- Style
- 2 1/2 Storey
- Construction
- Brick
- Foundation
- Unknown
- Roof
- Asphalt Shingle
Parking & Garage
- Garage
- Detached
- Parking features
- None
- Parking spaces
- 0
- Parking total
- 2.00
- Covered spaces
- 2
Community & Neighbourhood
- Cross street
- Ossington Ave & Harbord
Utilities & Services
- Sewer
- Sewer
Location
Property History
- Listed
- May 22, 2026 1:48 PM
- Listing updated
- September 9, 2026 4:18 PM
- System updated
- September 9, 2026 4:18 PM
- Photos changed
- May 22, 2026 1:49 PM
- Media changed
- July 2, 2026 1:30 PM
- Imported locally
- September 9, 2026 6:01 PM