Retirement Home in SW Ontario for Sale

Retirement Home in SW Ontario for Sale

The property: A stately mansion-ette is located on a gracious tree-lined street, two blocks from the center of a quaint town (23 miles to a major city). There are lush parks, churches, shopping and restaurants surrounding this quiet town. At present, (Sept/2013) just did $25000 renovations/upgrades and the place looks awesom. They have 16 guests residing at Retirement Home Manor. Now we are advertising, getting calls, and should be filled (20) shortly. Please contact LB with questions. The rent-roll is from beginning of last 2 years. The current bank statement shows a profit after expenses. If there was no mortgage then the return, at present, could be approx. $17,000/month with only the 16 residences, as per seller.








Advert ID #1534

Full Description


The property: A stately mansion-ette is located on a gracious tree-lined street, two blocks from the center of a quaint town (23 miles to a major city). There are lush parks, churches, shopping and restaurants surrounding this quiet town. At present, we have 16 guests residing at Retirement Home Manor. Now we are advertising, getting calls, and should be filled (20) shortly. Please contact LB with questions. The rent-roll is from beginning of last 2 years. The current bank statement shows a profit after expenses. If there was no mortgage then the return, at present, could be approx. $17,000/month with only the 16 residences, as per seller.

Town W of GTA,  Fully staffed & few vacant beds, Fully occupied, at 29 beds, it could gross over $600,000 a year (net about $350,000) as per seller.

PROPERTY SIZE: 128 ft frontage, 156 ft depth containing 19,968 square feet of area.

Building Details

In the mid ’90’s, about 12,000 sq. feet of new commercial construction was added to the building.  This enlarged it to be 29 bedrooms, 2-2 bedroom apartments, a commercial kitchen, two living rooms, an office,  other rooms.  Further, there is room to expand to become a 50 bed facility.

At present, there are 16 guests residing at this Retirement Home Manor. The Owner was planning to but has not, as yet, added 10 individual bathrooms in certain rooms so they could charge about double the current price. An investor was supposed to be a partner and put up the funds but this deal fell apart so the renos were not completed.  These building modifications should be done to increase Gross Income for the new owner, at the new owner’s convenience.

ZONING: RO-1 Site Specific Nursing Home/Retirement Home, FINAL ESTIMATE OF VALUE: $2,000,000 (as determined by an accredited Appraisal corporation).

There is a $1,180,000 loan on the property. Appraised at $2,500,000 (when fully occupied).   The Owner is willing to Sell this gem for only $2,200,000

OR the owner is willing to Trade at $2.2 million (equity $1 million).

The owner is flexible on price in exchange for the correctly appraised property.  The owner would consider trade for a recently appraised (by an accredited company) Residential Resort property in the US or abroad.

The new owner could live anywhere in the world  or reside in the spacious penthouse apartment and operate the Home, themselves.  Currently, it is fully managed with trained, dedicated staff. The owner travels extensively and lives in California due to his vocation.  The sale of this profitable property is required to fund the growth of his current Californian business.

Fill out the form below for more info.

Property Inquiry Form

Congratulations on the decision to examine this opportunity more closely. We look forward to hearing from you and assisting you in your acquisition requirements.

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N.B – Confidentiality is our # 1 priority, when selling a business – No Exception Please

 






R-Lot Size:

19,968 Sq Ft

R-No of Beds:

29

R-No of Washrooms:

10

b-AVAILABILITY OF BUYER TRAINING:

yes

b-BUSINESS OPERATION HOURS:

varies

b-FIXTURES/ EQUIPMENT INCLUDED/EXCLUDED:

Yes

b-GROSS ANNUAL REVENUE:

All Financials To Qualified Buyer

b-PREMISES SIZE & RENT/LEASE TERMS

to be discussed

b-SDCF ($)

19,968 Sq Ft

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