Generic Photo to protect the privacy of residents
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• 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 |
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| 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. |
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