8 BED HSC (Community Home for Opportunity) - $699,999

LOVELY APARTMENT FOR LIVE-IN OPERATOR

This well maintained HSC/CHO has a great reputation and therefore has no vacancies.

The beautiful attached apartment with a huge porch looking onto the garden makes it suitable for a “live-in” owner or to attract a quality “live-in” operator.

The income could be income tax exempt.

2018 Statement of Business Activities
Normalized with "Live-In" Operator
       
GROSS INCOME     $157,124.30   $157,124.30   $157,124.30
               
EXPENSES              
     Insurance (Home & Liability)   $2,448.52   $2,448.52   $2,448.52
     City Taxes     $3,633.96   $3,633.96   $3,633.96
     Food     $13,357.05   $13,357.05   $13,357.05
     Household, Garden, Business Supplies & R&M $3,623.00 * $3,623.00   $3,623.00
     Bank Fees     $261.69   $261.69   $261.69
     Automobile     $2,000.00   $2,000.00   $2,000.00
    Cell Phone     $500.00   $500.00   $500.00
     London Hydro (Electric & Water) $4,149.60   $4,149.60   $4,149.60
     Cable, Internet, Phone (Rogers)   $2,549.24   $2,549.24   $2,549.24
     Union Gas     $1,039.40   $1,039.40   $1,039.40
     Inspections (Helath, Fire, BP & Anderson) $381.03   $381.03   $381.03
     ADT Security & Direct Fire Alarm $513.09   $513.09   $513.09
     Wages - Live-In     $25,000.00   $30,000.00   $35,000.00
TOTAL EXPENSES     $59,456.58   $64,456.58   $69,456.58
               
NET INCOME     $97,667.72   $92,667.72   $87,667.72
               
CAP RATE     13.97%   13.26%   12.54%
               
* Average 2015, 2016, 2017          
  Buyers must verify all information