641 Ossington Avenue

Nestled in the vibrant neighbourhood of Palmerston-Little Italy, this remarkable house for sale in Toronto at 641 Ossington Avenue, Toronto, presents an exceptional opportunity for prospective homeowners and investors alike. With its charming semi-detached style and impressive 2 ½ storey layout, this property is designed to cater to a variety of living arrangements. Whether you’re looking to live in one unit while renting out the others, co-own with friends or family, or simply hold it as a fully operational income property, this house for sale in Toronto is a fantastic choice.

The address, 641 Ossington Avenue, Toronto, boasts a generous lot size of 19 x 126 feet, providing ample outdoor space, albeit without a pool. The exterior is a delightful blend of brick and vinyl siding, contributing to its classic appeal. The property has been meticulously maintained and features a total of eight rooms, including four well-appointed bedrooms and a den, making it suitable for families or those who appreciate extra space. Additionally, there are four bathrooms, ensuring convenience for all residents.

One of the standout features of this house for sale in Toronto is its dual kitchen setup, which is perfect for those who enjoy cooking or entertaining. The upper suite, which has been beautifully renovated, comprises three bedrooms and two bathrooms, complete with a private entry, hardwood flooring, and a rooftop deck that offers a lovely outdoor retreat. This suite is currently leased to excellent tenants at a competitive rate of $3,569.50 per month, and they are keen to remain, providing immediate rental income from day one.

The main-floor unit features one bedroom and one bathroom and is currently vacant, having been reinsulated and equipped with a newer fridge and stacked laundry facilities. This unit also enjoys exclusive use of the paved backyard, perfect for al fresco dining or simply enjoying the fresh air. Furthermore, the basement suite, which is also a one-bedroom, one-bathroom configuration, has a separate keypad entry and is ready for rental, making this property an attractive investment.

At 641 Ossington Avenue, Toronto, the seller has made significant improvements to ensure the property remains a sound investment. These enhancements focus on protecting cash flow and include exterior waterproofing along the north wall, a sump pump, and extensive masonry and tuckpointing work scheduled for completion in 2024. Additional upgrades include exterior window sealing planned for 2025, insulation improvements, updated kitchens and appliances, new lighting fixtures, and a shared washer and dryer for the upper and lower units.

For those concerned about parking, the property includes a detached two-car garage, adding significant value in this sought-after area, despite the absence of a driveway. The location is ideal, just steps away from public transport options like the TTC, as well as bike lanes, and the bustling shops and restaurants along Bloor and Ossington. This prime location not only ensures strong tenant demand but also promises long-term value for owners.

In summary, this house for sale in Toronto at 641 Ossington Avenue, Toronto, is a versatile property that caters to various ownership paths. With its well-maintained units, strategic improvements, and prime location, it stands as a valuable investment opportunity. Whether you’re looking to live in one unit while renting out the others or seeking a fully operational income property, this house for sale in Toronto is not to be missed. Come and explore the possibilities that await you at this exceptional address!

Palmerston-Little Italy is a vibrant and eclectic neighbourhood nestled in the heart of Toronto, renowned for its rich cultural tapestry and lively atmosphere. Characterised by charming tree-lined streets, this area boasts a delightful mix of historic architecture and modern amenities, creating a unique urban charm. The community is particularly famous for its Italian heritage, reflected in the array of authentic restaurants, cafés, and boutiques that line its bustling thoroughfares. With easy access to public transport and proximity to parks, cultural institutions, and the lively Kensington Market, Palmerston-Little Italy offers a dynamic lifestyle that appeals to both young professionals and families alike. Its welcoming vibe and diverse population foster a sense of belonging, making it an ideal place for anyone looking to immerse themselves in the vibrant life of Toronto.

Schools in the Neighbourhood

This property is conveniently located near several educational institutions, catering to a range of grades and educational preferences. Within a short distance, you will find Dewson Street Junior Public School (0.4 km) and Horizon Alternative Senior School (0.3 km), both part of the Toronto District School Board, offering a solid foundation for elementary and middle school students. For secondary education, Harbord Collegiate Institute (0.8 km) stands out with an impressive school rating of 8.8, ensuring quality education for grades 9 to 12. Additionally, St. Francis Assisi Catholic School (0.9 km) provides a Catholic education option for younger students, while Bishop Marrocco/Thomas Merton Catholic Secondary School (2.2 km) serves high school students with a rating of 5.3. Other nearby schools include Lord Lansdowne Junior Public School and St. Mary Catholic School, offering diverse language options, including English and French. With a mix of public and Catholic schools in close proximity, families will have access to quality education tailored to their needs, making this property an attractive option for potential buyers seeking a family-friendly neighborhood.

Key Statistics of the Neighbourhood

The area surrounding the property has a population of approximately 400 residents, with an average household size of 2.4 individuals. The demographic profile indicates a mature community, with an average age of 41.3 years. The average household income stands at $92,000, reflecting a relatively affluent neighborhood, although 9.5% of the population is classified as low-income. The real estate market shows an average property price of $1,240,000, indicating a premium market. A significant portion of the population, 55.41%, is single, while 27.78% of households include children, suggesting a mix of family structures. The community is diverse, with 34.78% of residents being immigrants. Renters make up a substantial 48.39% of the population, although there are no condominiums available in the area. Educational attainment is high, with 61.29% of residents holding a college or university degree. However, a notable 41.94% of the population is not participating in the labor force, which may reflect various factors including retirement or caregiving responsibilities. Overall, this demographic snapshot highlights a well-educated, diverse, and economically varied community.