Investor Alert! Welcome to 1563 Allen Place, a well-maintained six-plex offering exceptional cash flow potential in a sought-after London location. This solid income-producing property features five 3-bedroom units and one 1-bedroom unit. Current gross annual income exceeds $102,900. The property includes an on-site coin-operated laundry (owned) for additional revenue and is self-managed, keeping operating costs low. Estimated monthly expenses average $2,238, including insurance, taxes, cleaning, hydro for common areas, and snow removal, resulting in an impressive projected NOI of $76,000 per year. Tenants enjoy spacious layouts, ample parking, and proximity to Western University, Fanshawe College, shopping, parks, and public transit, making this a highly desirable rental location with consistent demand. With stable tenants in place and rental growth on the horizon, this property is a turnkey addition to any investor's portfolio. Whether you're expanding your holdings or looking for a reliable income property in London's rental market, 1563 Allen Place offers the perfect balance of steady income, future growth, and low management overhead. Full Income/Expense Summary can be found in Documents. (id:52373)
| MLS® Number | X12463938 |
| Property Type | Multi-family |
| Community Name | East H |
| Equipment Type | None |
| Parking Space Total | 10 |
| Rental Equipment Type | None |
| Bathroom Total | 6 |
| Bedrooms Above Ground | 16 |
| Bedrooms Total | 16 |
| Appliances | Stove, Refrigerator |
| Basement Development | Other, See Remarks |
| Basement Type | N/a (other, See Remarks) |
| Cooling Type | Window Air Conditioner |
| Exterior Finish | Brick |
| Foundation Type | Poured Concrete |
| Heating Fuel | Other |
| Heating Type | Radiant Heat |
| Stories Total | 2 |
| Size Interior | 3,500 - 5,000 Ft2 |
| Type | Other |
| Utility Water | Municipal Water |
| No Garage |
| Acreage | No |
| Sewer | Sanitary Sewer |
| Size Depth | 150 Ft ,3 In |
| Size Frontage | 75 Ft ,4 In |
| Size Irregular | 75.4 X 150.3 Ft |
| Size Total Text | 75.4 X 150.3 Ft |
| Zoning Description | R8-1 |
https://www.realtor.ca/real-estate/28992838/1563-allen-place-london-east-east-h-east-h
Contact us for more information
Colin Abbot
Broker
(226) 289-5555
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