2231 N 38th St, Phoenix, AZ 85008

We are pleased to present an exceptional investment opportunity with this turn key, fully furnished and occupied, 9-bedroom 10-bathroom assisted living home located in South Arcadia. This exclusive offering provides the astute investor seeking cash flow and a higher cap rate, the chance to acquire a property in one of the nation’s most desirable communities for senior living.
The residence is ideally located near premium healthcare facilities, lush parks, renowned Biltmore and Fashion Square shopping centers, and gourmet dining, ensuring comfort and convenience for its occupants. The Arcadia area is renowned for its high quality of life, making it an attractive destination for retirees looking for luxury and tranquility.
The facility is licensed through AZDHS for a maximum of 10 assisted living residents. 9 fully furnished bedrooms each with en-suite bathrooms, 2 hall bathrooms, spacious living room, family room, laundry room, office, garage with plenty of storage, a gourmet chefs kitchen, formal dining area, and a multiple common seating areas, all designed to promote an active and social lifestyle. Outdoor features boast beautifully maintained gardens, a walking path, and a tranquil patio area ideal for relaxation and social gatherings.
Value add opportunity includes applying for 16bd certificate of occupancy with the City of Phoenix to add an additional 6 residents.
There are flexible management options to consider. The current award-winning management team, with years of experience in the industry, is available to stay on and continue managing operations seamlessly. Alternatively, new owners can opt for training and a smooth transition with the current staff in place, ensuring a seamless takeover of operations.
Currently operating at full occupancy, this home boasts a gross monthly income exceeding $45,000 and an annual gross income surpassing $540,000! Don't miss this exceptional opportunity to own a thriving residential assisted living home with the potential for further growth and profitability. Schedule a private tour today!