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13 CAP Rate Residential Care Facility

Category: Member Offerings

It’s a great deal with a lot of upside since the rents represented in the actuals are below market, due to a high percentage of their clients being government funded versus private. Please feel free to give me a call if you would like to discuss further. The assignment contract expires in April 4th, so we need to move fast on it. Please note that this is a pocket listing and not available to the public.

2007 actual on the Residential Care Facility.

23 bed facility that was built in 2004 in Gresham Oregon. Gresham is an immediate suburb of Portland and is approximately 17 miles from the Portland Airport.

Actual Profit and Loss for 2007:

Gross Receipts $521,942.00
Operating Expenses
Salaries $157,357
Payroll taxes $42,428
Property tax 5,084
Insurance- F/L 9,477
Utilities 30,125
Supplies/ Misc. 2,950
Ads/ subs. 1,445
Repairs/Maint. 2,345
Placement Fee 1,250
Food & Supplies 34,643
Legal & Acct. 710
Bank Charges 128
Office Supplies 1,680
Licenses 1,680
Total Operating Expenses $291,134
NOI  $230,808.00

Under contract for $1,700,000.00
Earnest money in place is $10,000.

Due diligence expires April 4, 2008. Assignment fee is $10,000. Under this deal the CAP is 13.5% on actuals…a very solid deal.

 

Wholesale Buyers List - Florida - 2 April 08

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