Stabilized Investment Property For Sale - 10 Bed Assisted Living
Marketing description
The property was purchased in 2019 and underwent a complete $500,000 renovation to transform it into the beautiful custom-designed facility it is today. This family-owned business provides stellar care and a lovely home-like environment to just ten residents. Property is located in a lovely neighborhood in the mature and stable community of Tempe Arizona. Tempe is centrally located in the Phoenix valley and is also home to Arizona State University. The facility sits on a private parcel with gardens and bright outdoor spaces. The home has ten beautifully appointed private bedrooms. Each unit has a private bath and some offer private terraces. There are two large community shower rooms where residents may be safely assisted with showering. In addition to the open living room, dining room and kitchen areas, there is also a large, covered porch over looking the private back yard. The recently renovated facility has all new fire alarm/sprinkler systems, appliances, furnishings and ADA-compliant accessories.
This investment opportunity offers a buyer a stabilized and cash flowing business with plenty of room for additional income growth. The Tempe market has seen solid need for assisted living with continued strong demand as the community ages. The facility is currently run with a full-time administrator and a low resident to staff ratio. The full time, salaried manager has been with owner since opening day.
Investment highlights
- Class A Asset in Turnkey Condition
- The property is exceptionally maintained with luxury accommodations, no deferred maintenance, and a modern, high-end buildout. It requires no capital investment from a buyer to continue operations.
- Strong Financial Performance
- Over the past several years, the property has had zero vacancy, with full occupancy and an active waitlist at all times.
- The home consistently produces strong revenue with over $318,000 in annual NOI and has increased revenue with with bed turnover, creating a built-in revenue growth mechanism.
- The property is licensed and approved for 10- bed Assisted Living residential care home with directed care services. Each bedroom has their own exclusive bathroom.
- Property is located within a high barrier to entry submarket.
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