REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 1,295,000
Est. payment /mo
New
1563 Allen PL London East, ON N5W 2V9
16 Beds
6 Baths
UPDATED:
Key Details
Property Type Multi-Family
Sub Type Multiplex
Listing Status Active
Purchase Type For Sale
Approx. Sqft 3500-5000
Subdivision East H
MLS Listing ID X12463938
Style 2-Storey
Bedrooms 16
Annual Tax Amount $10,276
Tax Year 2025
Property Sub-Type Multiplex
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.
Location
Province ON
County Middlesex
Community East H
Area Middlesex
Zoning R8-1
Rooms
Family Room No
Basement Other
Kitchen 6
Interior
Interior Features Other
Cooling Window Unit(s)
Inclusions Fridge x6, Stove x6
Exterior
Parking Features Available
Pool None
Roof Type Asphalt Shingle
Lot Frontage 75.35
Lot Depth 150.34
Total Parking Spaces 10
Building
Foundation Poured Concrete
Others
Senior Community No
ParcelsYN No
Virtual Tour https://1563-allen-place-six-ple-rx6o71x.gamma.site/
Listed by OAK AND KEY REAL ESTATE BROKERAGE, INC.