10 bed care home currently rented at $7000 per month (triple net) until April 30 2025. Recent appraisal showing value of well above the asking price can be supplied upon accepted offer. Pro forma spread sheet available showing 9% return on a cash purchase and over 13% with 75% financing. Spread sheet provided for information purposes only without representation or warranty and buyers should rely on their own due diligence. Furnishings including beds, bedding, towels and linens, appliances and tvs are included. Near identical property next door at 219 Toronto St is also available and strong preference will be given to a sale involving both properties. Both buildings are in excellent condition and feature bright living spaces for residents, large functional kitchens with generous sized dining space. They each feature partial basements with plenty of storage and laundry facilities as well as a second floor with office space and staff kitchen areas. Concrete pads behind each building provides adequate staff parking. Located in a quiet residential neighbourhood and backing onto open space and baseball diamonds. These properties offer an excellent investment opportunity as rentals (tenant has expressed an interest to stay) or as an owner operator business upon expiration of the current leases. Note: seller will be repairing missing siding and fascia prior to sale. (id:47421)
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Detailed Information
Lot
37.42 x 0 ft
Listing Contract Date
2024-07-23
Ownership Type
Freehold
Property Type
Other
Transaction Type
For sale
Building
Constructed Date
2017
Heating Type
Furnace
Size (Exterior)
3225 square feet
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