40 BED HWS - SOUTHWESTERN ONTARIO - $3,150,000 - UNDER CONTRACT

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40 BED GOVERNMENT SUBSIDIZED HWS

10% CAP RATE

Great opportuinity for a very profitable family business situated on 10 acres 15 minutes from an urban centre. Would suit a family seeking country style living while building a profitable, rewarding people care business. The 10 acre property includes the 40 bed residential care home and a separate single family home within a short walk to the care home. There would be minimal living expenses for an onsite owner and most of the business profits could be used to build equity.

2021 PROFORMA
     
REVENUE    
CHO Tenants (40@$1,700.25/mth) $816,120  
Single room bonus $15,129  
GROSS INCOME $831,249  
10% Vacancy $83,125  
NET REVENUE $748,124  
     
EXPENSES    
Food $52,000  
Insurance $12,000  
Licence/Taxes $645  
Office $6,000  
Professional Fees $2,500  
Property Tax $10,800  
Repairs & Maintenance $13,000  
Supplies $8,000  
TV/Telephone/Internet $6,000  
Utilities $34,000  
Wages & Salaries $280,000 *
TOTAL EXPENSES $424,945  
     
(NOI) EBITDA $323,179  
     
*see schedule    
Information provided by the Seller.
Buyers must verify all information.