Two Assisted Living And Residential Care Facilities In LA For Sale

Business description

Two profitable Residential Care Facilities for the Elderly (RCFE) in upscale residential neighborhoods of West Hollywood and Los Angeles. This turn-key golden business opportunity is offered for sale for the first time after being in business for 17 years, with or without Real Estate.

The residential care facilities are fully licensed by the state of California with 12 and 6 bed facilities for ambulatory and non-ambulatory elderly. The 2 properties were converted and fully upgraded with handicap accessibility and is up to code. They offer a homey environment with beautiful grounds, gardens, flowers, and trees to private pay seniors who require all levels of care, depending on their needs. The current staff includes 2 administrators, one of which is the owner, 6 caregivers, and one driver. They are all committed to providing quality care 24 hours, nutritious home cooked hot meals, monitoring and assisting with medication, social, mental and fitness stimulation, transportation to and from medical and dental appointments, daily housekeeping, laundry services, and much more.

This is a profitable business opportunity either for an investor or someone already in the RCFE industry who would like to expand, or a husband/wife team, to work and live on the premises.

The asking price for the 2 locations is $575,000 (businesses only), with 2011 gross annual receipts of $435,214 (with 75% occupancy) and net cash flow of $110,552 (including owner/administrator salary of $62K). There is much more room for income growth as the current average of $2500/mo per bed is under the current market rate of $4000/mo per bed.

Real Estate is also available for $1.85MM for the 2 locations.

Property information

Real Estate:

Lease

Location:

Two Locations, available for lease or purchase

Other information

Support & training:

Seller will provide training

Reasons for selling:

Family issues

Trading hours:

Days: 7 Days, Hours: 24 Hours

Owner financing:

Owner financing is available. Please contact the seller for more information.

Financing available:

Downpayment Required: $575,000
Monthly Payroll: $5,166

Furniture / Fixtures value:

$200,000 (included in the asking price)