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Royal LePage
Royal LePage
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$1,269,000

London East (East H) ON, N5W 2V9

MLS® # X12463938

Property Information:

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:27)

Building Features:

  • Style: Multiplex
  • Building Type: Other
  • Air Conditioning: Yes
  • Basement Development: Other, See Remarks
  • Basement Type: N/A
  • Exterior Finish: Brick
  • Floor Space: 3500 - 5000 sqft
  • Foundation Type: Poured Concrete
  • Heating Type: Radiant heat
  • Heating Fuel: Other
  • Cooling Type: Window air conditioner
  • Appliances: Stove, Refrigerator

Property Features:

  • Property Type: Multi-family
  • Bedrooms: 16
  • Bathrooms: 6
  • Floor Space (approx): 3500 - 5000 Square Feet
  • Irregular: Yes
  • Lot Depth: 150.2 Feet
  • Lot Frontage: 75.3 Feet
  • Lot Size: 75.4 x 150.3 FT
  • Zoning: R8-1
  • Sewer: Sanitary sewer
  • Parking Type: No Garage
  • No. of Parking Spaces: 10

Courtesy of: OAK AND KEY REAL ESTATE BROKERAGE, INC.

REALTOR.ca  

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⚠ Potential Investment Performance

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Location of 1563 ALLEN PLACE, London East (East H), Ontario, N5W 2V9

Demographic Information of 1563 ALLEN PLACE, London East (East H), Ontario, N5W 2V9

Life Stage

Young Couples

Employment Type

Blue Collar/Primary, Blue Collar/Service Sector

Average Household Income

$85,426.57

Average Number of Children

1.53

Household Population

Household Structure

Age of Population

Education

Education Level

No certificate/diploma/degree

24.16 %

High school certificate or equivalent

34.8 %

Apprenticeship trade certificate/diploma

6.21 %

College/non-university certificate

25.4 %

University Degree

9.43 %

Commuter

Travel To Work

By Car

85.77 %

By Public Transit

4.98 %

By Walking

3.08 %

By Bicycle

0.73 %

By Other Methods

5.44 %

Cultural Diversity

Knowledge of Official Language

Mother Tongue

Building Information

Building Type

Apartments (Low and High Rise)

40.02 %

Houses

59.98 %

Own Vs. Rent

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