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    312 N Roosevelt Avenue

    Fullerton, CA 92832
    • $12,750,000
    • STATUS: ACTIVE
    • ON SITE: 158 days
    • ID#: 302635334
    $12,750,000
    • 144
      BEDS
    • 0.92
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1979
    County:

    School Ratings & Info

    Description

    The Palm Retirement Center is a rarely offered 144 Bed Assisted and Memory Care facility located in Fullerton, California. The residential care facility (RCFE) consists of 108 assisted living beds and 36 memory care beds situated in separate wings. Amenities include a large dining hall and commercial kitchen, laundry facility, recreation rooms, library, salon, and two outdoor courtyards. The 34,000 SF facility is situated on a 40,750 SF lot and has been a home for assisted living residents since 1977. The The Palm Retirement Center is a rarely offered 144 Bed Assisted and Memory Care facility located in Fullerton, California. The residential care facility (RCFE) consists of 108 assisted living beds and 36 memory care beds situated in separate wings. Amenities include a large dining hall and commercial kitchen, laundry facility, recreation rooms, library, salon, and two outdoor courtyards. The 34,000 SF facility is situated on a 40,750 SF lot and has been a home for assisted living residents since 1977. The Property is being offered a 6.3% cap rate on current income at 9% vacancy with major upside in rents and potential added value. Current ownership is a low budget "mom and pop" operation with substantially below market rents. According to the 2019 Genworth Cost of Care Survey, the average cost of assisted living per resident in the Los Angeles Metro Market is $4500 a month. Through modernization and professional management, an investor can acquire this asset and achieve significant upside in cash flow and value.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
    www.yournextcalihome.com/homes/109107996
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    312 N Roosevelt Avenue Fullerton, CA 92832

    • Price: $12,750,000
    • Status: ACTIVE
    • ID#: 302635334
    144
    Beds
    0
    Baths
    0
    ½ Baths
    0.92
    Acres
    1979
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    Oc - Fullerton (92832)
    Property Description
    The Palm Retirement Center is a rarely offered 144 Bed Assisted and Memory Care facility located in Fullerton, California. The residential care facility (RCFE) consists of 108 assisted living beds and 36 memory care beds situated in separate wings. Amenities include a large dining hall and commercial kitchen, laundry facility, recreation rooms, library, salon, and two outdoor courtyards. The 34,000 SF facility is situated on a 40,750 SF lot and has been a home for assisted living residents since 1977. The The Palm Retirement Center is a rarely offered 144 Bed Assisted and Memory Care facility located in Fullerton, California. The residential care facility (RCFE) consists of 108 assisted living beds and 36 memory care beds situated in separate wings. Amenities include a large dining hall and commercial kitchen, laundry facility, recreation rooms, library, salon, and two outdoor courtyards. The 34,000 SF facility is situated on a 40,750 SF lot and has been a home for assisted living residents since 1977. The Property is being offered a 6.3% cap rate on current income at 9% vacancy with major upside in rents and potential added value. Current ownership is a low budget "mom and pop" operation with substantially below market rents. According to the 2019 Genworth Cost of Care Survey, the average cost of assisted living per resident in the Los Angeles Metro Market is $4500 a month. Through modernization and professional management, an investor can acquire this asset and achieve significant upside in cash flow and value.
    Exterior Features

    Pool N/K Site CurbsSidewalks Spa N/K

    Interior Features

    Stories 2 Story Total Baths Unit1 72

    Property Features

    Actual Cap Rate 6.3 Age Restrictions Other/Remarks Annual Expense Actual 0 Buildings 1 Gross Scheduled Income Actual 0 Unit Number For Unit1 1 Unit1 Rent Actual 0.0 Water Meter On Property Zoning C

    Listing provided courtesy of Hopkins Global Inc.. Listing information © 2021 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2021 San Diego MLS, Inc. Licensed in the state of California.
     
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    The Legacy Real Estate Team
    10620 Treena St, Suite 230
    San Diego CA, 92131