19 BED HOME (16 HSC) HAMILTON - $1,200,000 - SOLD

19 Bed Zoned Group Home with Licence from Ministry of Health for 16 HSC Beds. 3 Private paying beds. Home in a mansion in a gentrifying downtown part of Hamilton. There are no more NEW HSC Licences from the Ministry being issues, so high occupancy with Long Term residents assured. Newer efficient hot water heating system just installed to save on energy costs. Suits hand-on operator owner with some work experience in health care.
2017 PROFORMA
 
Income    
   Fees 16 Bed HSC   $289,449
   Fees 3 PVT Beds   $32,400
Total Income   $321,849
   Less 6% Vacancy   $19,311
Net Income   $302,538
     
Expenses*    
   Advertising   $528
   Casual Labour**   $10,000
   Vehicle Expenses**   $3,000
   Food, Drugs and Household Supplies $36,633
   Insurance   $5,975
   Office and Bookkeeping   $2,105
   Professional Fees   $2,455
   Realty Taxes   $7,037
   Repairs and Maintenance** $10,000
   Telephone   $1,061
   Utilities   $17,135
   Wages and Benefits   $131,445
Total Expenses   $227,374
     
Net Operating   $75,164
     
     
     
Income    
HSC Beds - 16 x $49.67 - perdiem x 365 = $289,449
Private Beds - 3 x $900 per month x 12 = $32,400
     
     
* Expenses based on 2015 financials  
** Normalized expenses    
Proforma based on information supplied by the Seller.
Buyer to verify all information