Residential Intermediate Care Facilities with business and 3 residential properties and a total of 18 beds in Kern County. The facilities are dedicated to providing a comfortable, caring, and supervised living arrangement in a family home setting. Services provided include room, board, social activities, three daily meals, scheduled transportation, 24 hour supervision and assistance with activities of daily living.
The asking price of $1,750,000 includes three residential care facilities (the business) as well as three residential homes (the real estate) in Kern County. This is priced for an immediate sale. The business and property are in Receivership and this is a court order sale. The asking price reflects a reduced value given that the facilities have not been operating at 100% occupancy. The receiver has hired a third-party person to oversee the facilities and business until it is sold. Most books and records are available but historical information may be limited. This is a great opportunity for an experience operator to purchase these facilities and bring them up to 100% occupancy which according the various sources is doable given the current demand in the marketplace.
The facilities and properties WILL NOT qualify for SBA finance or bank finance. Seller will provide short term seller finance for a qualified buyer with industry experience and at least 50% down. A SBA lender is in place to refinance the project after 2 completed tax returns are filed showing the business has improved. Further details on this will be provided once a confidentiality agreement and proof of funds have been submitted to Broker.
The seller also owns 3 additional facilities with the real estate in Ventura County that are for sale at $4.2M. That project has been pre-approved for SBA finance with 20%+/- down for a qualified, industry buyer. Contact Broker for additional information and a NDA if interested.
Please note this is a confidential matter and only serious buyers with industry experience should inquire. No additional information will be provided until a Confidentiality Agreement, background information showing industry experience and proof of funds in the amount of $900,000 has been submitted.
Disclaimer: DealStream has not independently verified any of the information in this listing and makes no warranty as to its accuracy or completeness. This listing does not constitute an offer to sell, solicit or make an offer to buy an investment interest. Offers to sell, or the solicitation of offers to buy, any security can only be made through official offering documents, such as a subscription agreement and private placement memorandum.