Remarks

A rare opportunity to take over a well-managed and cared for Retirement Home in South Kawartha Lakes County. This home has over 35 rooms with a mix of studio and one-bedroom units, 2pc and 3pc ensuite bathrooms in most rooms and an operating occupancy rate average of 89%. Excellent mechanicals and upgrades including: updated electrical service (400 amps), new cistern, multiple forced air heating and cooling units, sprinkler system with diesel backup generator, propane generator, updated roofing and windows, new hot water tanks, commercial style kitchen with 6 ft exhaust hood. Improved and profitable trailing 12-month financials as a result of improved occupancy rates and increased room revenues. Exceptionally well-positioned on 2 acres of property and surrounded by existing and future residential development. As a buy-and-hold strategy with solid holding income for future development, this opportunity offers any investor the benefit of current cash flows and upside from future development or land inclusion. (id:7525)