42
$1,295,000 Sale
Listed 3 hours ago
1563 ALLEN PLACE
· 16
· 6.0
· 10
· 3500 - 5000
Key Facts
Key facts for 1563 ALLEN PLACE
Property Type
Other, Other
Parking
Garage: No, 10 parking
MLS #
X12463938
Size
3500 - 5000 sqft
Basement
-
Listed on
-
Lot size
-
Tax
-
Days on Market
-
Year Built
-
Maintenance Fee
-
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 in...cludes 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:10452)
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Listing courtesy of: OAK AND KEY REAL ESTATE BROKERAGE, INC.
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