Two 20-Bed Assisted Living Facilities

Kent County, MI

Two 20-Bed Assisted Living Facilities
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Asking Price: Get Financing: $1,500,000

Cash Flow: $202,973

Gross Revenue: $606,514

EBITDA: N/A

FF&E: N/A

Inventory: N/A

Real Estate: $1,200,000

Established: N/A

Two 20-Bed Assisted Living Facilities

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Business Description

Turn key with staff and management in place

Two 20-bed assisted living facilities for sale in the Greater Grand Rapids area. Each facility is licensed 20 bed Adult Foster Care. One facility is currently operating at full capacity, while the other is operating at 65%, mainly due to four of the units being remodeled. Both facilities are receiving monthly bed rates that are far below market, allowing significant room for increased revenue. Both facilities are receiving supplemental payments from the State of Michigan as well as other agencies in addition to the money collected from the residents each month.
This is a fantastic opportunity to step into two facilities that are already profitable and priced based on their current revenue and increase revenues significantly over the next 6-12 months.

Fantastic value add opportunity
Priced based on current valuation
Increased bed rates in both locations plus increased occupancy in one can double revenue
Staffing costs are low due to one facility having some staff living on site in an attached apartment

Detailed Information

Real Estate:
Owned
Included in asking price
Building SF:
10,000
Employees:
13
Facilities:
Two 20-bed licensed Adult Foster Care homes. Each two stories.
Competition:
Quickly growing industry
Growth & Expansion:
Both facilities have significant room for increased revenue with higher monthly bed rates and higher occupancy in one. Both facilities also have additional land available to build additional AFC homes on site.
Support & Training:
As necessary
Reason for Selling:
Retirement
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(from currently available funds)
 
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Kevin Vandenboss

Business Listed By:
Kevin Vandenboss

Vandenboss Commercial

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