1563 ALLEN PLACE, London East (East H), Ontario, N5W2V9

Property Description

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:64974)

Quick Facts

• Property Type: Other
• Bedrooms: 16 (16 above)
• Bathrooms: 6
• Parking: 10 spaces (No Garage)
• Frontage: 75 ft (23 m)

Costs

• Annual Taxes: $10,276.00

Listing Provided by: OAK AND KEY REAL ESTATE BROKERAGE, INC.
Board: London and St. Thomas Association of REALTORS®
Data provided via CREA DDF®.