$1,699,000
FOR SALE

Attached/Row House/Townhouse 2 1/2 Storey

Bedrooms: 5Bathrooms: 4Lot: 19.06 x 127 ft
2025 Taxes: $9,637.24

588 Ossington Ave
Toronto, ON M6G 3T5 | Palmerston-Little Italy

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.
Extras
None
Share
Listed By RE/MAX REALTRON REALTY INC.
Data Provided By Toronto Regional Real Estate Board
MLS® Listing Number C13162902
Last Updated May 22, 2026
Property Summary
Property Type Attached/Row House/Townhouse

More like this:
PIN 212810367
Legal Description PT LT 35 BLK P PL 329 CITY WEST AS IN CA548961; CITY OF TORONTO
Possession Date TBD
Taxes (2025) $9,637.24
Directions/Cross Streets Ossington Ave & Harbord
Neighbourhood Palmerston-Little Italy
Area Toronto
Price History

Interested in obtaining the full price history for this property?
Contact us!Contact us! Our real estate professionals would be happy to provide a complete listing history with historical sold prices and dates.

Detailed Information
Fronting On West
Special Designations Unknown
Bedrooms 5
Bathrooms 4
Lot 19.06 x 127 ft
Exterior Brick
Air Conditioning Central Air
Family Room Y
Basement Finished, Separate Entrance
Garage Type Detached
Garage/Park Spaces Y
Heat Source Gas
Heat Type Forced Air
Sewers Sewer

The information contained on this site is based in whole or in part on information that is provided under copyright by the Toronto Regional Real Estate Board (TRREB) or by members of The Canadian Real Estate Association (CREA), who are responsible for its accuracy. TRREB and CREA reproduce and distribute this information as a service for their members and assume no responsibility for its accuracy. All information displayed is believed to be accurate but is not guaranteed and should be independently verified. No warranties or representations of any kind are made with respect to the accuracy of such information.
The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale, or lease of real estate and may not be used for any commercial purpose or any other purpose.

FREE ESTIMATES ARE COMING

Reserve Your Spot To Be Notified
or

Coming soon to select cities
in North America

(We'll never share your details)