$2,899,000
Est. payment /mo
19,258 SqFt
New
Address not disclosed Kawartha Lakes, ON K9V 4R1
REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
UPDATED:
Key Details
Property Type Commercial
Sub Type Investment
Listing Status Active
Purchase Type For Sale
Square Footage 19,258 sqft
Price per Sqft $150
Subdivision Ops
MLS Listing ID X12285087
Annual Tax Amount $38,379
Tax Year 2024
Property Sub-Type Investment
Property Description
A rare opportunity to take over a well-managed and cared for Retirement Home in South Kawartha Lakes County. This home has over 35 roomswith 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 roofng and windows, new hot water tanks, commercial style kitchenwith 6 ft exhaust hood. Improved and proftable trailing 12-month fnancials as a result of improved occupancy rates and increased roomrevenues. Exceptionally well-positioned on 2 acres of property and surrounded by existing and future residential development. As a buy-andhold strategy with solid holding income for future development, this opportunity offers any investor the beneft of current cash fows and upsidefrom future development or land inclusion.
Location
Province ON
County Kawartha Lakes
Community Ops
Area Kawartha Lakes
Zoning ZONE TYPE* I-2 and R3, Instit/Res
Interior
Cooling Partial
Exterior
Utilities Available Yes
Lot Frontage 290.74
Lot Depth 297.94
Others
Security Features Yes
Listed by ROYAL LEPAGE REAL ESTATE SERVICES LTD.