$1,619,000 - 288 Ossington Avenue, Downtown Toronto
Detached for Sale in Downtown Toronto
58 days on market- MLS Number
- C13027218
- Property Type
- Detached
- Status
- active
- Days on Site
- 58
- Bedrooms
- 7
- Bathrooms
- 4
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- ROYAL LEPAGE SIGNATURE REALTY
288 Ossington is a turnkey, income-generating duplex with easy triplex potential, offering flexibility for investors or end-users. Live in one unit and rent the others, or fully optimize as a high-yield multi-family asset. Featuring a 2 bed, 1 bath main floor suite ($2,850 + utilities) and a spacious 3+ office, 2 bath upper unit spanning the 2nd and 3rd floors (vacating June 30th). Located steps from the Ossington Strip, Trinity Bellwoods, transit, and top restaurants, this property sits in a high-demand rental neighbourhood known for consistently strong tenant demand and long-term investment stability. Extensively updated in Sept 2023 with brand new modern kitchens and bathrooms, stainless steel appliances, upgraded finishes, and improved mechanical systems. Features include new 200 AMP electrical service (2025), electrical baseboard heating in all rooms for independent climate control, updated lighting, and custom blinds throughout. Exterior improvements include new gutters (2023) and a refreshed front façade. The vacant basement with two existing walk-outs, kitchen, and bathroom presents an excellent opportunity to create a third unit with minimal work, unlocking additional income potential.
Estimate your monthly payments for this property
Estimated Payment
$7,161.38/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover Downtown Toronto / Waterfront
Downtown Toronto / Waterfront is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in Downtown Toronto / Waterfront
- •Convenient location in Downtown Toronto / Waterfront
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
Downtown Toronto / Waterfront offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
288 Ossington Avenue, Downtown Toronto / Waterfront
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Fair Market Value
At $810/sqft, this property is priced in line with current Downtown Toronto market conditions. The pricing suggests the seller has done their homework. We may have modest room for negotiation, typically 2-4% in today's market.
Negotiation Opportunity
At 58 days on site, this property has exceeded the typical selling timeline for Downtown Toronto. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in Downtown Toronto are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Excellent Flexibility
With 7 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in Downtown Toronto.
Bathroom Count Matters
With 4 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.
Investment Perspective
Looking at this as an investment: Downtown Toronto properties have averaged 5-7% annual appreciation over the past decade. Your estimated monthly carrying costs would be around $6,746 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.