17 BED - Housing With Support - Ottawa - $990,000

Generic photo to protect the privacy of residents

 

 

BRIGHT, FULLY UPDATED

HOUSING WITH SUPPORT FACILITY

Newer roof; newer commercial kitchen; newer flooring; renovated bathrooms;
a pleasure to show. Walking distance to downtown.

 

 

PROFORMA    
Based on normalized
2019 financial statement
   
     
         
REVENUE    $336,696    
EXPENSES        
      Advertising & Promotion  $500    
      Bad Debts    $1,000    
     Bingos, birthdays and entertainment  $670    
     Food and Supplies     $53,226    
     Insurance    $8,058    
     Utilities    $14,331    
     Interest and Bank Charges  $1,500    
     Miscellaneous    $1,991    
     Office Espenses    $1,092    
     Professional Fees    $2,147    
     Property and Business Taxes  $5,113    
     Repairs and maintenance - Building  $5,000    
     Repairs and Maintenance - Equipment  $2,000    
     Salaries and Benefits    $130,930 *  
     Telecomminications    $2,000    
     Training    $441    
     Travel    $2,000    
TOTAL EXPENSES    $231,499    
         
NET OPERATING INCOME  $105,197    
         
         
*$14.00/hr x 24 hours x 365 days = $122,640 + benefits = $130,930 --> 6.76%
Based on information provided by the Seller.    
Buyer should verify all information independently.    
         
CAP RATE =

$105,197
$990,000

10.62%