46 SUITE RETIREMENT HOME - EASTERN ONTARIO - $1,900,000

Generic photo to protect the privacy of residents

 

Purpose built one floor facility.

All suites have private or semi-private bathrooms.

Zoning permits upt to 59 beds.

Income reduced mainly due to COVID-19 and is reflected in the listing price.

Great potential for restoring past income in the post COVID era. Suitable for owner in health care.

STATEMENT OF INCOME AND DEFICIT  
       
  to June 30, 2020   to July 1, 2021  
Revenue   $1,127,260   $844,676  
         
Expenses        
Advertising and promotion $5,452   $3,912  
Salaries and benefits $478,459   $450,000  
Insurance $10,673   $11,873  
Interest and bank charges $481   $246  
Professional fees $11,688   $38,994 *
Purchases - Food , supplies, medicine $124,052   $110,970  
Repairs and maintenance $34,164   $54,946  
Property taxes $46,819   $46,000  
Telephone $6,957   $4,849  
Utilities $40,651   $40,000  
Total Expenses $759,396   $761,790  
         
         
Income before income taxes (EBITDA) $367,864   $82,886  
         
EBITDA = Earning Before Interest Taxes Depreciation and Amortization      
* includes RPN Manager and licensing        
**Information provided by the Seller. Buyers must verify all information