Aug 13, 2018 — I am pleased to present a senior living apartment building for your consideration. This 13 bed unit was constructed in 2008 and has served its rural clientele with both the comforts of home and larger communities of its type. The home was funded by a group of community minded individuals who wanted to bring a senior living facility to their small, rural, hometown. Previous to the construction of this facility, families would have no choice but to find similar types of facilities that were often 15-20 miles away.
These investors who built this facility were businessmen, accountants, attorney’s, farmers, etc…none of them had prior experience with senior living or assisted living ventures. They constructed this facility to serve a need in their community, and making a profit was not overly high on their list of priorities.
Having said that…the facility has been profitable in 7 out of the last 8 years that is has been in existence. In 2013 at full capacity, the park brought in $330,000 of revenue. As is unfortunately the case in any small business, a poor manager can hurt the business and ultimately will make/break the facility.
As we sit in 2018 this facility has a new manager that was recently brought in to replace the previous one. Rent numbers are once again starting to look positive but the yearly figures for 2018 will not be near as rosy as the previous 7 years of business.
The board of directors of this facility made a decision recently to offer the facility for sale hoping to find an individual or a group with more experience in the senior housing/health care field. They have accomplished their goal of bring a facility of this type to their small community, now they would like to make sure that these senior apartments are well run going forward for the future elders in their community.
The facility is a beautiful 13 room building with each room having its own bathroom and ADA compliant. Each room has its own geothermal heating and cooling unit to keep electrical expenses lower than traditional HVAC systems. While it is currently only being utilized as senior apartments with 24 hour supervision, it could quite easily be transformed into an assisted living community.
The facility and equipment cost over $1,000,000 to build. It is a well built facility that offers curb appeal and a beautiful interior as well.
I look forward to discussing this opportunity with you after a NDA has been executed.
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