This is a very successful mid-size senior's residence in Ontario with an excellent reputation. It provides meals and lodging but not health care services on site. Total square footage exceeds 14,000 square feet. Common areas include a dining room, sunroom, library TV / Exercise room, a hair salon plus landscaped garden areas and paved sidewalks. There is an opportunity to increase room rates as tenant turnover occurs, since current rents are below market rates.
Monthly rental is all inclusive including accommodation, utilities, food, laundry, housekeeping, and TV. Residents enjoy three meals a day in the fully renovated dining room. A full schedule of activities including crafts, games, and exercise classes, is offered each month.
The business is being sold with the Real Estate - land and buildings that are valued at $1.7 Million within the total listing price based upon a 2021 appraisal. This is an increase to the book value of land and real estate of $983,783, as at YE FY2021.
