Investor's Dream: Prime Location Semi-Detached in Palmerson-Little Italy

In the bustling neighborhood of Little Italy, a hidden gem awaits - 671 Ossington, a property with untapped potential and the promise of turning into a goldmine. With its prime location near Ossington station and the vibrant Ossington Strip, this duplex offers an exciting opportunity to unlock its full potential and transform it into a multi-unit oasis. Let's dive into the possibilities that await at 671 Ossington and how this blank canvas can be crafted into a prosperous investment venture.

1. The Beauty of a Blank Canvas:

Investors often seek properties with potential for value addition, and 671 Ossington epitomizes that vision. Currently set up as a duplex, the unfinished basement opens the door to creating a third unit, a cozy 1 bed 1 bath suite. This strategic addition will diversify the property's rental income streams, providing an opportunity to maximize returns.

2. Diverse Rental Income Streams:

The magic of 671 Ossington lies in its versatility. The proposed rental setup is a dream for any investor seeking steady cash flow. The main floor, boasting a 2 bed 1 bath suite, can command an impressive $3,000 a month in rent, while the 2nd/3rd floor offers a spacious 3 bed 2 bath unit, complete with a rooftop deck, generating $4,500 a month. Meanwhile, the cozy basement suite adds an additional $1,800 a month to the property's potential income. To further enhance revenue, the plan includes the construction of a chic 700 sqft laneway house, which could yield an enticing $3,200 a month in rent. With this multifaceted approach, the property has the potential to generate a total of $12,500 a month in rental income once fully renovated.

3. Prime Location and Amenities:

671 Ossington's location is an undeniable asset. Situated right by Ossington station, it offers easy access to public transportation, making it highly attractive to potential tenants. Moreover, the proximity to the bustling Ossington Strip with its trendy cafes, restaurants, and shops ensures a vibrant and sought-after neighborhood for potential residents. The convenience of nearby amenities adds to the property's desirability, making it a compelling option for long-term tenants.

4. Appreciation and Future Value:

As a real estate investment, 671 Ossington has the potential for substantial appreciation over time. With strategic renovations and improvements, the property's value is projected to soar, potentially exceeding $2.6 million. Investing in a rapidly developing neighborhood like Ossington can offer significant long-term benefits, making this opportunity even more enticing for savvy investors.

Final Thoughts:

671 Ossington presents a blank canvas with unparalleled investment potential. With the vision to craft this blank canvas into a goldmine, investors can unlock the full potential of 671 Ossington and set themselves on a path towards financial prosperity and success. Don't miss out on this rare chance to shape your future and make the most of Toronto's thriving real estate market. They are reviewing offers on Sunday. I like this property a lot at 1.2M and would be willing to spend up to 1.25M for the income potential.