588 Ossington Avenue, Toronto, ON M6G 3T5
Toronto C01
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.
Estimate only - excludes property tax, condo fees, utilities and home insurance. Rates vary by lender and term; based on semi-annual compounding.
Walkability, transit, and bike-friendliness for 588 Ossington Avenue, Toronto, ON M6G 3T5
Provided by Walk Score®. Walk Score, Transit Score, and Bike Score are trademarks of Walk Score.
MLS# C13162902
Listed by RE/MAX REALTRON REALTY INC.
On market since May 22, 2026
588 Ossington Avenue, Toronto, ON M6G 3T5 is listed for $1,699,000 CAD.
588 Ossington Avenue, Toronto, ON M6G 3T5 has 5 bedrooms and 4 bathrooms.
588 Ossington Avenue, Toronto, ON M6G 3T5 is a Att/Row/Townhouse.
588 Ossington Avenue, Toronto, ON M6G 3T5 is in Toronto C01, Ontario.
588 Ossington Avenue, Toronto, ON M6G 3T5 is currently for sale.
Contact Michael Mezheritsky to arrange a private showing of 588 Ossington Avenue, Toronto, ON M6G 3T5 (MLS# C13162902). You can also send a message through the contact form on this site.
