RETIREMENT HOME - LICENSED FOR 20 BEDS - $1,249,000

                       Generic Photo to protect the privacy of residents
 

• 1.5hrs from Mississauga

• Picturesque setting on 4.4 acres.

• There is a large apartment suite for a "live-in" owner/operator.

• Large lot has potential for expansion.

• Current and previous owners operated this facility with 16 beds.

• Currently operating 11 beds mainly due to Covid-19

• Located in South Western Ontario

PROFORMA
INCOME 16 BED
PROFORMA
  20 BED
PROFORMA
 
Retirees Income $345,600   $432,000  
Less 10% Vacancy $34,560   $43,200  
Net Retiree income $311,040   $388,800  
         
         
EXPENSES        
Advertising $1,000   $1,000  
Bank Charges $2,000   $2,000  
Insurance $15,000   $20,000  
Licence/Memberships $4,100   $5,000  
Office $2,000   $2,000  
Professional Fees $2,500   $2,500  
Property Taxes $12,000   $12,000  
Repairs & Maintenance $12,000   $15,000  
Telephone/Internet $3,000   $3,000  
Utilities $11,680   $13,000  
Wages/Salaries $50,000 * $80,000 *
TOTAL EXPENSES $115,280   $155,500  
         
NET OPERATING INCOME $195,760   $233,300  
         
         
Assumptions: Average monthly rent $1,800        
* Assumes live-in operator/owner        
         
Information provided by the Seller.
Buyers must verify all information.