54 BED RESIDENTIAL CARE HOME - OTTAWA - $2,500,000

Generic photo to protect the privacy of residents

 

16 HSC LICENCED BEDS

38 CITY CONTRACT BEDS

 

NOTE 10% CAP RATE!!

 

Well-established Residential Care Home with 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.

 

2016 PROFIT & LOSS (Normalized)  
53 BED HOUSING
WITH SUPPORT FACILITY
 
OTTAWA AREA  
           
    2016   2015  
REVENUE   $943,335   $913,586  
           
EXPENSES          
     Recreational Activities $15,803   $4,777  
     Fees   $854   $730  
     Insurance   $10,713   $10,593  
     TV Cable   $3,638   $2,415  
     Utilities   $38,222   $44,771  
     Mainenance & Repairs $27,071   $38,368  
     Supplies   $13,810   $18,524  
     Office supplies $1,863   $1,290  
     Accounting Fees $1,969   $2,732  
     Travel   $171   $353  
     Bank Fees and Interest $2,731   $3,353  
     Food   $124,542   $122,207  
     Advertising $792   $785  
     Wages and Benefits $439,934   $447,656  
     Property Tax $12,826   $13,196  
     Telephone $2,399   $1,502  
TOTAL EXPENSES $697,338   $713,252  
           
NET OPERATING INCOME $245,997   $200,334  
           
Information provided by the Seller. Buyers to confirm all information.
Owner's salary is not included.