New Price w Real Estate included!
This is a great opportunity for new owners to step into a fully turn-key assisted living operation where the existing owners spend less than 5 hours per week working on the business. The facility has 20 units/24 beds with open land to add an additional 20 units/24 beds. They have a full commercial kitchen in place. The owners just started acitvely managing the operations in late 2019.
The facility is less than 10 years old and in excellent condition. The facility is located in a great community, they enjoy a good reputation and strong employee retention. Numerous opportunities to increase revenue, increase the census and control expenses.
The owners have done all of the heavy lifting to get the business started and incurred the heavy costs of startup and filling the facility. Due to their other business operations, the owners never spent the required amount of timing operating and managing the business and the expenses. This operation needs an experienced owner and/or a new owner that will invest the time to properly manage the operations and expenses.
The real estate was recently appraised at $3.5 MM. This is a perfect opportunity for an existing operator with experience to take over. Fully turn-key. An excellent deal with a 13% cap rate.