$1,219,000 - 1563 Allen Place, London East
Detached for Sale in London East
108 days on market- MLS Number
- X12768656
- Property Type
- Detached
- Status
- active
- Days on Site
- 108
- Bedrooms
- 16
- Bathrooms
- 6
- Square Feet
- 3,500 - 3,999 sqft
- Neighbourhood
- London East
- Listing Brokerage
- OAK AND KEY REAL ESTATE BROKERAGE, INC.
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.
Estimate your monthly payments for this property
Estimated Payment
$5,392.05/mo
5-yr fixed avg.
Rates shown are estimates based on typical Ontario 5-year fixed rates. Canadian mortgages use semi-annual compounding as required by law. CMHC insurance applies to purchases under $1.5M with less than 20% down. Estimated property tax uses an approximate 0.85% rate. Contact us for current rate options and pre-approval.
Discover London East
London East is a vibrant community in the Greater Toronto Area, offering excellent amenities, schools, and transportation options. This area is popular with families and professionals seeking a balanced lifestyle with access to urban conveniences and natural spaces.
Why Live in London East
- •Convenient location in London East
- •Access to local shops and dining
- •Good public transit connections
- •Community parks and green spaces
- •Well-maintained neighbourhoods
Nearby Schools
Transit & Commuting
- •MiWay bus routes throughout the area
- •GO Transit stations within driving distance
- •Easy highway access to 401/403/QEW
- •Walking distance to local amenities
Parks & Amenities
- •Local parks and recreational facilities
- •Community centres
- •Shopping plazas nearby
- •Restaurants and cafes
Lifestyle & Community
London East offers a wonderful quality of life with a mix of residential charm and urban convenience. Residents enjoy easy access to schools, parks, and shopping, making it an ideal location for families and professionals alike.
1563 Allen Place, London East
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Rental income estimator & ROI calculator
Monthly Cash Flow Breakdown
Note: These are estimates only. Actual figures may vary based on market conditions, property condition, and other factors. Consult with a financial advisor for personalized advice.
Joe's Thoughts
Honest perspective from 30+ years of GTA real estate experience
Competitive Pricing
At $348/sqft, this is priced below the area average. This could represent genuine value, but let's investigate why. In my experience, underpriced homes often have deferred maintenance, unfavourable layouts, or motivated sellers. I'll help you determine which it is.
Negotiation Opportunity
At 108 days on site, this property has exceeded the typical selling timeline for London East. This creates leverage for buyers. The seller may be motivated by carrying costs, life circumstances, or previous deals falling through. I'd recommend a strategic offer below asking with terms that favour you.
Detached Home Advantages
Detached homes in London East are increasingly scarce and valuable. You'll have no shared walls, full control over renovations, and typically stronger appreciation. Consider the lot size and potential for future additions or basement apartment income. Detached homes also offer the most flexibility for growing families.
Larger Home Realities
At 3,500 sqft, this is a substantial home. Budget approximately $400-600/month more for utilities compared to an average-sized home. Maintenance costs scale with size too - roof, HVAC, and cleaning all cost more. That said, space is a luxury that's hard to add later, and larger homes often have better resale in family-oriented neighbourhoods.
Excellent Flexibility
With 16 bedrooms, you have genuine flexibility. Beyond the master and kids' rooms, you can have a dedicated home office, guest room, hobby space, or even rental income potential. In today's work-from-home era, extra bedrooms add significant value. Properties with 5+ bedrooms are relatively rare in London East.
Bathroom Count Matters
With 6 bathrooms, morning routines are much smoother. Multiple bathrooms significantly improve daily livability and are a major selling point for resale. Buyers consistently pay more for adequate bathroom counts - this is a strong feature.