Brokered by: OAK AND KEY REAL ESTATE BROKERAGE, INC.
MLS®: X12463938 ()
Price: $1,295,000.00
Address: 1563 ALLEN PLACE, London East (East H) FOR SALE Postal Code: N5W2V9 Style: Type: Multi-family Other Bedrooms: 16 Bathrooms: 6 Bedrooms Aboveground: 16 Parking: No Garage Garage: No Garage Lot Size: 75 ft ,4 in x 150 ft ,3 in Property Size: 75.4 x 150.3 FT Stories: 2
About 1563 Allen Place
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:56071). Get more information on 1563 Allen Place
Property Features
Appliances: Stove, Refrigerator Rental Equipment: None Directions: Cross Streets: Allen and Spruce. ** Directions: Spruce St to Allen St. Zoning Description: R8-1 Interior Size: 3500 - 5000 sqft Lot: 75.4 x 150.3 FT 75.4 x 150.3 FT Exterior Finish: Brick Water: Municipal water, Sanitary sewer Heating / Cooling: / Window air conditioner Age: Foundation: Poured Concrete Basement:
Rooms & Sizes
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John DiRenzo
Sales Representative RE/MAX Centre City John DiRenzo Team Brokerage
Direct Phone: (519) 857-3490
John DiRenzo, Salesperson. Cell: (519) 857-3490. RE/MAX Centre City John DiRenzo Team Brokerage.
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