38 ROOM RETIREMENT RESIDENCE -- $2,900,000

 

 

Incredible & Rare Opportunity For An Investor Or Owner-Operator To Be Part Of Canadas Booming Retirement Living Industry. Fully Licensed 38 Rooms Retirement Residence. Hundreds Of Thousands Invested In Recent Renos & Upgrades. Well Established Turn Key Operation With A Solid Reputation And Track Record. 15Min Walk To Norfolk Gen Hospital, 1.5H From Toronto, 1H Hamilton, 1H15Min London, 15Min Port Dover. Current Operator Will Train And Secure Smooth Transition **** EXTRAS **** 188 Head St N - Is Included In Sale - Detached House CurrentlyUsed As Storage. Potential For More Rental Income Or Live In Staff Or Management. 

 

  Income Statement  
         
         
Revenue        
  Gross Sales   $565,577  
  December Rent  (as per rent roll)   $55,622  
  Less: Sales Returns and Allowances      
       Net Sales     $621,199
         
         
Goods Sold      
  Purchases Food & Beverage   $57,368  
  Linens & Lodging Supply   $1,008  
       Cost of Goods Sold     $58,376
         
        Gross Profit (Loss)     $562,823
         
Expenses        
  Salaries & Wages incl. Benefits   $252,735 *
  Membership Fee   $896  
  Business Licence   $4,221  
  Care supplies   $1,726  
  Office Expense   $2,307  
  Professional Fee   $2,953  
  Maintenance & Rent Equipment   $6,165 **
  Disposal Expense   $1,410  
  Security Service & Fire Protection   $1,942  
  Telephone & Internet   $1,440 ***
  Taxes Property   $6,021  
  Cable TV   $786  
  Water   $9,751  
  Gas & Hydro   $31,873  
  Insurance   $7,138  
         
  December Estimated Exp. 60%   $33,372  
         
       Total Expenses     $364,736
         
       Net Operating Income     $198,087
         
Other Income      
  Gain (Loss) on Sale of Assets Cash $9,000  
  Interest Income   $0  
       Total Other Income     $9,000
         
       Net Income     $207,087