Property details
$5 Million Equity | Senior Housing Conversion, Southeast Region
Property Description
Senior Housing Conversion Seeking $5 Million Equity Investor
Owner seeking $5 million in equity.
The project is currently operating as an existing multifamily, 2-building project.
The buildings are already there, just need to do tenant improvements.
The owner is converting this project into an Assisted Living / Independent Living project.
The owner has city approval in place (this alone took 3 years to obtain).
$3 million will buy out existing partners, the balance of $2 million will be used for the conversion improvements.
When the conversion is completed, there will be 134 rooms
Estimated monthly room charges will be $3,500 ($469,000 monthly gross, $5,628,000 annually gross).
Estimated expenses: $2,500,000.
Estimated Annual Net Income: $3,128,000.
Short Timeframe: The owner can finish the improvements in 6 months after receipt of the $5 million.
Note: There will be some suites that can fetch $4,000 per month (inquire).
Equity Investment Opportunities
Images
Highlights
- Status:
- Available
- Price:
- $5,000,000
Property Information
- Property Type:
- Equity Investment
- Industry Type:
- Senior Housing
- Units/Spaces:
- 134
- Purchase Tenure:
- Fee Simple
Existing financing information
- N/A
The information contained herein contains confidential and/or privileged material. Any review, retransmission, dissemination or other use of, or taking of any action in reliance upon, this information by persons or entities other than the intended recipient will be prohibited. The information contained herein has been obtained from sources believed to be reliable. While we do not doubt its accuracy, we have not verified it and make no guarantee, warranty or representation about the accuracy or completeness of the information. As a buyer, it is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. The value of this property to you depends on factors which should be evaluated by your tax, financial and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs. We have no knowledge of this offering other than the information received from Seller or their representatives. We are neither your agent or an agent for the seller. We will not participate in the negotiation of the purchase price or attend the showing of this property. As a buyer, you will be required to indemnify us and hold us harmless from any kind of claim, cost, expense, or liability arising out of your investigation and/or purchase of this property.