Property Description

Excellent cashflowing 12-bed assisted living home in Arvada: the only ALR currently for sale in the metro area. Clean, caring, established culture with long-tenured residents and staff(paid $21 / hr). Currently operating with 11 of 12 licensed beds filled, an NOI of $13, 750 / mo(10% cap rate); an owner-operator could make $19, 000 / mo NOI ($232K / yr). Filling the 12th bed projects to $17, 600 / mo with management or $23, 500 / mo ($282K / yr) owner-operated. This is a * turn-key * 8bdrm / 3ba one-level 2600sf ranch. Real estate and business are included, retain the experienced staff and administrator! Most residents participate in Medicaid / InnovAge (PACE), providing consistent program-based income. Recent kitchen and main-floor remodel, newer boiler(5 yrs), brand-new sewer line, newer soffits and driveway. All furniture and office supplies included. Large backyard the residents love. 10, 000 Baby Boomers are turning 80 each day in the U.S. through 2044: do good while generating meaningful income. Assisted living is in high, long-term demand while being a recession-resistant cashflow investment. Do not approach the home. Showings are through listing agent once buyer is pre-approved, provides proof of funds, and demonstrates serious intent to purchase. PLEASE read “ALF Buyer's Fact Guide” on Medicaid / InnovAge ALF operations in MLS Supplements before contacting the agent.