Key Facts
- MLS® #: X12768656
- Property ID: SIRC3098874
- Property Type: Residential, Multiplex
- Lot Size: 11,328.12 sq.ft.
- Bedrooms: 16
- Bathrooms: 6
- Parking Spaces: 10
- Listed By:
- OAK AND KEY REAL ESTATE BROKERAGE, INC.
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.
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Location
1563 Allen Pl, London East, Ontario, N5W 2V9 Canada
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