$1,888,000 - 588 Ossington Avenue, Downtown Toronto
Townhouse for Sale in Downtown Toronto
New — Listed 2 days ago- MLS Number
- C12886662
- Property Type
- Townhouse
- Status
- active
- Days on Site
- 2
- Bedrooms
- 5
- Bathrooms
- 4
- Square Feet
- 2,000 - 2,499 sqft
- Neighbourhood
- Downtown Toronto / Waterfront
- Listing Brokerage
- RE/MAX REALTRON REALTY INC.
Welcome to 588 Ossington Avenue, an exceptionally located 2.5-storey end-unit row house in the heart of Palmerston-Little Italy, just steps south of Harbord Street. This vibrant downtown neighbourhood offers outstanding access to transit, parks, bars, restaurants, cafés, and all the conveniences that make city living so desirable. Completely renovated in 2015, this home blends modern updates with timeless character. Major improvements completed during the renovation include updated windows, kitchens, bathrooms, and interior finishes, offering a contemporary feel throughout while maintaining the charm of the property. The interior layout provides flexibility for multi-generational living or potential income opportunities. Adding to the property's convenience is a rare two-car garage accessible via the rear laneway, providing valuable parking and storage. Enjoy the character of a historic Toronto streetscape combined with the energy and amenities of one of the city's most desirable neighbourhoods. This is your opportunity to invest in a beautifully updated home, surrounded by the best that Palmerston- Little Italy has to offer. The seller and brokerage make no representation or warranty regarding the legality or the retrofit status of the property. Buyers are advised to conduct their own due diligence regarding the permitted use and status of the property.
Estimate your monthly payments for this property
Estimated Payment
$8,351.26/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.
588 Ossington Avenue, Downtown Toronto / Waterfront
Open in Google MapsUse the map controls to zoom, pan, and switch between map and satellite views. Drag to explore the neighbourhood.
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 25+ years of GTA real estate experience
Fair Market Value
At $944/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.
Just Listed - Act Strategically
This property hit the market within the last week. In Downtown Toronto's current market, desirable homes often receive multiple offers within 5-7 days. If you're seriously interested, I recommend booking a showing immediately. However, never let urgency override due diligence - we'll still do proper inspections.
Townhouse Benefits
Townhouses offer an excellent balance of space and maintenance. You get more room than a condo with lower upkeep than a detached home. Key things to verify: whether it's freehold or condo-titled (affects fees and rules), and the condition of shared walls for noise considerations. Townhouses in Downtown Toronto have shown strong appreciation as families seek more space.
Excellent Flexibility
With 5 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 $7,867 (mortgage, taxes, insurance). Consider whether you're comfortable with this as both a home and a financial commitment.