24 BED RETIREMENT HOME - $1,300,000

Generic photo to protect the privacy of residents

 

 

South Western Ontario

Turnkey Retirement Home located in a quiet residential neighbourhood with private and semi-private furnished accommodations. Fully sprinklered!

The thoughtful layout provides residents with easily accessible common areas, nursing supervision and dining facilities. Residents control temperature in their rooms.

Set on a 1.7 acre ravine, residents can enjoy panoramic views of the changing seasons from many rooms and common areas or take a short walk to the beautiful walking trails.

Close to transit, shopping, and restaurants residents have plenty of options to enjoy their own style of independent living while our dedicated staff provide the care and peace of mind our residents and their families deserve.

Large rooms are offered in private or semi-private options. All feature large windows, substantial closets and private baths. Bathrooms are wheelchair accessible and have generous vanities and walk in showers.

Common rooms are very bright and airy with vaulted ceilings and plenty of overhead windows.

2017 PROFORMA
REVENUE  
  Potential Rental Income $599,759.00
  Vacancy & Credit Losses (10%)   $59,975.00
  Effective Rental Income $539,784.00
  Other $1,000.00
TOTAL INCOME $540,784.00
EXPENSES  
   Wages & Benefits $285,221.00
   Food $43,000.00
   Utilities $36,941.00
   Repairs & Maintenance $18,857.00
   Property Taxes $15,344.00
   Office Supplies $4,494.00
   Insurance $9,758.00
   Bank Charges/Interest $3,743.00
   Legal & Accounting $2,237.00
   Telephone $2,239.00
   Memberships $1,797.00
   Advertising/Promotion $1,073.00
TOTAL EXPENSES $424,704.00
NET OPERATING INCOME $116,080.00
NOTE: Income is potential income based on full occupancy. Allowance has been made for 10% vacancy rate. Expenses are actual expenses for 2014 with exception of food expense which has been adjusted for full occupancy
   

Proforma based on information provided by the Seller. Buyers should verify all information.