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