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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.
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Rooms
13 rooms · 4 bathrooms
- Living room11′9″ × 17′11″211 sq.ft.
- Primary bedroom12′3″ × 12′6″153 sq.ft.
- Kitchen11′9″ × 13′5″158 sq.ft.
- Dining room11′9″ × 17′11″211 sq.ft.
- Den11′10″ × 9′8″114 sq.ft.
- Primary bedroom12′1″ × 12′4″149 sq.ft.
- Den8′10″ × 7′7″67 sq.ft.
- Kitchen9′ × 15′135 sq.ft.
- Living room15′4″ × 15′4″236 sq.ft.
- Living room12′6″ × 10′11″137 sq.ft.
- Kitchen15′4″ × 10′8″164 sq.ft.
- Primary bedroom12′11″ × 13′8″176 sq.ft.
- Recreation11′4″ × 20′227 sq.ft.
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