563 Ossington Avenue

If you’re on the lookout for a fantastic investment opportunity, look no further than this remarkable house for sale in Toronto , located at 563 Ossington Avenue, Toronto. This semi-detached brick property boasts an impressive 2 1/2 storeys and is nestled in the vibrant Palmerston-Little Italy community, making it a prime location for both living and renting. The house is situated on a generous lot measuring 27 by 128 feet, providing ample space for potential expansion or outdoor enjoyment.

As you approach the property at 563 Ossington Avenue, Toronto, you’ll immediately appreciate its well-maintained condition. The exterior is a classic brick façade that exudes charm and character. With a total of 13 rooms, including eight spacious bedrooms and four bathrooms, this house for sale in Toronto is perfect for large families or as a multi-unit rental. The main floor features high ceilings and a side separate entrance, leading to three comfortable bedrooms. The second and third-floor units are equally impressive, offering three or more bedrooms along with a large living room that opens out to a huge deck, ideal for entertaining or simply enjoying the outdoors.

One of the standout features of this house for sale in Toronto is its versatility. Currently, the property is being utilised as three separate units, making it a fantastic turn-key investment opportunity. The lower level includes two bedrooms and a large family room, complete with its own separate entrance, providing privacy and convenience for tenants. The main floor apartment is presently tenanted, while the lower apartment is vacant, allowing for immediate rental income potential. The second and third-floor units are also partially vacant, offering flexibility for new owners to either occupy or rent out.

The property benefits from modern conveniences, including central air conditioning and internet access, ensuring comfort and connectivity for all residents. Although there is no central vacuum system, the forced air heating and municipal water and sewer services make for a hassle-free living experience. The house does not feature a pool, but the large lot size offers plenty of room for outdoor activities or future development.

Parking is a breeze with space for three vehicles available via the wide laneway at the rear of the property. The absence of a garage means that the focus remains on maximising the living space within the house itself. Given its prime location, just a short walk from the subway and the bustling Little Italy area, this house for sale in Toronto is perfectly positioned for those who appreciate urban living with a touch of community charm.

With the roof and gas furnace recently replaced, this property is not only solid but also bright and spacious, making it an ideal choice for anyone looking to invest in a growing area. The potential gross income of around $100,000 makes this house for sale in Toronto an enticing prospect for investors or those looking to occupy a portion of the home while renting out the rest.

In summary, 563 Ossington Avenue, Toronto, is a remarkable semi-detached property that offers a unique blend of space, comfort, and investment potential. With its eight bedrooms, three kitchens, and multiple living areas, this house is a rare find in the heart of the city. Don’t miss out on the opportunity to own this fantastic house for sale in Toronto – it truly is a gem waiting to be discovered!

Palmerston-Little Italy is a vibrant and culturally rich neighbourhood in Toronto, renowned for its charming blend of historic architecture and modern amenities. Nestled between the bustling streets of College and Dundas, this area boasts a lively atmosphere, with an array of delightful cafés, restaurants, and boutique shops that reflect its Italian heritage. The tree-lined streets are perfect for leisurely strolls, while the nearby parks provide green spaces for relaxation and recreation. With a diverse population and a strong sense of community spirit, Palmerston-Little Italy offers a welcoming environment for new residents, making it an ideal place to call home in the heart of the city.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, making it an ideal choice for families. Within a short distance, you will find Dewson Street Junior Public School, just 0.2 km away, offering grades JK to 6 with a solid school rating of 7.6. Horizon Alternative Senior School is even closer at 0.1 km, serving grades 7 to 8, although it currently has no rating. For secondary education, Harbord Collegiate Institute, located 0.8 km away, provides grades 9 to 12 and holds a respectable rating of 7.3. Additionally, Pope Francis Catholic School, 0.7 km from the property, offers a Catholic education for grades JK to 8 with a rating of 6.6. Other nearby schools include Lord Lansdowne Junior Public School and St. Mary Catholic School, both offering diverse language options and grade levels. While some schools have lower ratings, the variety of educational choices available within a short distance enhances the appeal of this location for families seeking quality education for their children. Overall, this area provides a supportive educational environment, catering to different needs and preferences.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of 642 residents, with an average household size of 2.5 individuals. The demographic profile indicates a relatively mature community, with an average age of 38.8 years. The average household income is notably high at $170,000, reflecting a prosperous environment, although 6.2% of the population is classified as low-income. The real estate market is robust, with an average property price of $1,560,000. Socially, 45.45% of the residents are single, while 36.11% live in households with children, suggesting a mix of families and individuals. The community is also diverse, with 16.91% of residents being immigrants. A significant portion of the population, 56.14%, are renters, indicating a rental-friendly market, while there are no condominiums available in the area. Education levels are high, with 68.64% of residents holding a college or university degree. However, 23.73% of the population is not in the labor force, which may reflect a variety of factors including retirement or other personal circumstances. Overall, this area presents a blend of affluence, diversity, and a strong educational background.