Welcome To
641 Ossington Ave
Immediate Income, Lasting Value on Ossington
Send This Listing To A Friend641 Ossington Ave delivers from day one. With reliable tenants already paying market rent upstairs and two vacant units ready to be filled, this semi-detached home with three self-contained units offers immediate income, flexible ownership options, and the kind of long-term upside that only comes with an Ossington address.
Three Units, Endless Possibilities
Every apartment here has its own private entrance, making this property both versatile and practical.
Upper Unit (Tenanted, $3,569.50 /mo): A renovated three-bedroom, two-bath suite with hardwood floors, a private roof deck, key-pad entry, and parking. The current tenants — praised by the seller as her best in years — would happily stay on, making this a turnkey investment from the moment you close. Prefer to live in the largest unit yourself? Serve notice and make it yours (per the Residential Tenancies Act guidelines).
Main Level (Vacant): A bright one-bedroom, one-bath apartment with a mix of hardwood and tile floors, newer appliances, ensuite laundry, and exclusive access to the backyard. Freshly painted and reinsulated, it’s move-in ready for an owner or a new tenant.
Basement (Vacant): Fully renovated in 2022 with updated insulation, new lighting, a refreshed kitchen, and a proper bedroom closet. Secure keypad entry and thoughtful upgrades make it a rental-ready suite with minimal effort.
Whether you plan to live in one unit and rent the others, co-buy with a friend or family member, or hold it purely as an income property, 641 Ossington adapts to your strategy. It generates cash flow today while keeping the door open to future reconfiguration.
A Property That’s Been Looked After
This is not a neglected investment that’s been left to chance. The seller has kept on top of maintenance, tackling meaningful upgrades in recent years: interior waterproofing, a sump pump, masonry and tuckpointing on the north wall, new railings, fresh carpeting, window sealing, and more. Inside, you’ll find updated appliances, paint, and insulation. Outside, the concrete has been redone for better drainage, and the garage door opener system has been replaced. It’s the kind of maintenance record that lets investors sleep at night and owners focus on living.
Outdoor Space, Parking, and More
Outdoor space is built into every level. The front porch overlooks Ossington and doubles as handy bike storage. The upper unit enjoys a private rooftop deck. The main-floor unit has exclusive use of the backyard — paved and low-maintenance, but easily set up for summer dining or entertaining. At the rear, a detached two-car garage adds serious value, whether you use it for parking, storage, or future creative use.
Location That Lasts
Ossington isn’t just trendy — it’s proven. The street is home to some of Toronto’s best dining, nightlife, and independent shops, and its reputation has staying power. For owners, that means long-term appreciation. For tenants, it means high demand and low vacancy. Add in TTC access, bike lanes, and major routes right at your door, and the address becomes as practical as it is desirable.
The Instant Win + The Long Game
641 Ossington Ave is the rare property that checks both boxes: it’s an instant win today, with proven rent and two vacant units ready to generate income — and it’s a long-term play, giving you options to expand, reconfigure, or eventually claim the best suite for yourself.
In Toronto real estate, location is permanent. Opportunities like this don’t come often.
5 Things We Love
- Ownership Your Way – Live in one unit and rent the rest, co-buy with a partner(s), hold as an investment, or convert back to a single-family home. This multi-unit property flexes to your strategy.
- Turnkey and Low Maintenance – With extensive upgrades already done — from waterproofing and masonry to insulation and appliances — this property is ready to perform without the headaches.
- Outdoor Space for Everyone – A front porch for coffee (or bike storage), a rooftop deck upstairs, a private backyard on the main, and a two-car garage out back. Every unit gets its own slice of the outdoors.
- Value That Builds Over Time – Multi-unit homes in prime locations tend to hold and grow value. This property offers market-rate rental income from day one (upper unit) and the opportunity to set your own rents (main and lower units). Here, strong tenant demand and transit access make appreciation a built-in feature.
- The Ossington Effect – Few streets carry as much weight as Ossington. It’s a destination for dining, culture, and nightlife — which translates into higher rental desirability and long-term investment strength.
Floor Plans
3-D Walk-through
About Palmerston-Little Italy
Palmerston–Little Italy feels like the part of Toronto that never forgot how to enjoy itself. Centered around College Street and stretching north to Bloor, it’s a neighbourhood where espresso still matters, neighbours still wave, and weekends unfold over long lunches that turn into late-night music sets.
