Retirement Residence 11% Cap Rate - $3,600,000 - UNDER CONTRACT

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PROFIT & LOSS  
BASED ON 2018 FINANCIAL REPORT  
   
       
REVENUE    $1,155,334  *
EXPENSES      
Wages and benefits    $507,416   
Food & Supplies    $100,762   
Repairs & Maintenance    $25,000   
Utilities    $61,911   
Professional Fees    $5,000   
Property Taxes    $16,728   
Telephone & Internet    $3,000   
Insurance    $9,015   
Office Supplies    $6,586   
Meals & Entertainment    $1,000   
Dues & Memberships    $6,521   
Advertising & Promotion    $4,500   
Equipment Rental    $1,928   
Interest & Bank Charges    $5,177   
TOTAL EXPENSES    $754,544   
       
NET OPERATING INCOME    $400,790   

NOTE: Based on information supplied by the Seller, Buyers must verify all information.

* Actual Income 2017-2018.

Projected income with renvoations complete $1,308,000