35 BED RESIDENTIAL CARE HOME - OTTAWA - $1,800,000

Generic photo to protect the privacy of residents

 

 

30 HSC LICENCED BEDS
5 CITY CONTRACT BEDS

NOTE FANTASTIC
12% CAP RATE!!

 

Well-established Residential Care Home with a secure Ministry of Health HSC (Home for Special Care) Licence. This Ministry of Health program has been operating for 50 years.

In addition, the Home has a contract with the local government to provide subsidized accommodation under the Provincial Housing with Support program. Most residents are long term.

This is a turnkey operation with a full staff and an administrator in place. The Home is on a large lot with potential for expansion.

 

2017 PROFORMA
       
INCOME      
     Based on 32 Clients (32 x $51.11 per diem x 365)   $596,964
       
EXPENSES      
     Food     $58,000
     Heat / Gas / Hydro   $18,000
     Insurance     $9,800
     Recreation & Entertainment   $500
     Maintenance and Repairs (building)   $17,000
     Maintenance and Repairs (Equipment)   $5,000
     Vehicle Expenses   $6,000
     Client Expenses Re-imbursable Transportation Fee   $1,000
     Professional Fees   $5,000
     Cleaning & Supplies   $8,000
     Office Expenses   $2,500
     Advertisement and Promotion   $3,500
     Salaries & Benefits   $220,000
     Property & Business Taxes   $13,000
     Telephone & Internet   $6,500
TOTAL EXPENSES   $373,800
       
NET OPERTATING INCOME   $223,164
       
Information provided by the Seller. Buyers to confirm all information.
Includes Salary for a full-time onsite administrator    
Does NOT include Owner's salary or dividends