588 Ossington Avenue

ActiveDowntown Toronto / Waterfront · Palmerston-Little Italy76 days on marketMLS® C13162902

$1,699,000

$850 / sq ft

Bedrooms5

Bathrooms4

Interior2,000 sq ft

TypeTownhouse

ListingFor Sale

Days on Market76

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.

Features & finishes

View

Air Conditioning

Basement

Property details

MLS® Number	C13162902
Status	Active
Listing Type	For Sale
Property Type	Townhouse
Interior Size	2,000 sq ft
Beds / Baths	5 bed · 4 bath
Neighbourhood	Palmerston-Little Italy
City	Downtown Toronto / Waterfront
Postal Code	M6G 3T5
Province	ON
Listed Date	May 22, 2026
Days on Market	76
Price per Sq Ft	$850
Brokerage	RE/MAX REALTRON REALTY INC.