Price and Terms
- Asking Price $18,000,000
- SGI $5,553,204 Est. 2010
- Room. Vacancy 4% Est.
- GSI $5,216,292
- Expense ($3,487,908) Est. 2010
- NOI ($1,728,384)
- 9.60% CAP Est. 2010
Financing
Facility Improvements
- 125-Units Beds IL/AL/ALZ (Approx)
- Three buildings Four-stories
- Parking Spaces: Ample
- Hallway Widths 6'-0"
- Flooring: Carpet and Tile
- Roof: Flat
- Foundation: Concrete Slab
- Structure: Concrete
General Facility Features
- Central Kitchen
- Courtyards
- Emergency Call
- Handicap Access
- Handrails
- Sprinklers
- Pool
Contact Information
For questions, further information, or a Confidentiality Agreement "Ask Seller's Broker a Question" by calling Lee Haris (415) 989-5372 (x321) or emailing lharis@harisconfidential.com
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Superior care and services in one remarkable facility...
Situated in a picturesque location the subject community has historically been a strong performer with a solid reputation for providing high quality services in a clean, caring environment. It is located in the Western U.S. one-half mile from a regional shopping, and across the street from a major hospital's clinic.
This 125-unit community consists of distinct Independent, Assisted and Special Care-Alzheimer's units. The IL and AL wings are connected to a central community building and lobby, while the Special Care unit occupies one half of the AL-wing's first floor, the ALZ-corridor has its own entrance.
This community offers tastefully designed IL or AL studios (312 and 350 s.f.), and one-bdrms (465 and 962 s.f.) and two-bdrms (800 and 930 s.f.) units. The Special Care-ALZ resident rooms are 312 s.f. The building contains a gross floor area of 106,000 square feet, or 835 square feet per unit.
Quality
Superior services lend to a vibrant hotel living ambience, this community is specially designed with a homelike atmosphere -- dining rooms, activity areas, pool, and a large "walk" courtyards and priviate units. Community staff and programs encourage regular interaction between residents and entertaining activities. The good nutrition, health supervision, personal attention and caring atmosphere allow people to enjoy the best possible quality of life.
Peace of Mind
From elegant dining to 24-hour staffing, this community offers superior services for its residents. True restaurant dinning in its elegant full service main dining room. Scheduled transportation for medical appointments and banking, concierge services such as shopping and running errands allow residents a lifestyle of ease. Cultural outings and events, exercise programs, and arts and crafts programs are well attended by its active residents.
Major Strengths
A location near hospitals and medical facilities that are resident referral sources; A location along a main street allowing high visibility and easy access; A location adjacent or in close proximity to retail services; Ocean views; Physical plant considerations; Newer -- effective age of 6 years; Good construction quality; Modern design; Extensive and well-planned resident common areas; Residential apartment design including kitchen or kitchenette, individual thermostats, private bathrooms with shower, balconies, washer/dryers; High number of one and two-bedroom units, which are preferred by private-pay residents; Well-maintained physical plant; Complimentary care levels offered including assisted living and special care, which provides a wider variety of healthcare choices and the option to age in place, increasing the potential resident pool for the subject facility; Only independent and assisted living community of this size in the area; and A reliable labor pool.
Regional Market
This community located in area that is noted for its excellent balmy weather that varies only slightly from one season to another. It is located where the main resident population concentration is for the area.
Recent development of shopping facilities has occurred in the vicinity. The recent developments include large retailers such as Wal-Mart, Border's Books, Safeway, Liberty House and K-mart. The subject community is located about one-half mile south of these recent developments. Developments in the immediate vicinity of the project are primarily commercial. In addition, there are a limited number of residential condominium projects. The majority of this areas medical facilities are located within a block of the subject community.
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