Nine Assisted Living Facilities in New England
Price: $13,500,000
Location: New England
Industry: Health Care and Fitness
Listing ID: CM42722
***Confidential Listing, not in indicated area***
This is a turnkey group of NINE assisted living facilities that are being sold as one single group.
This family-owned business has a well-earned, spectacular reputation. So much so that all nine facilities are consistently at 100% occupancy, and all consistently have waiting lists. Referrals routinely come from over 100 miles away because beds are so sought after.
Every resident is cared for as if they were the owner’s own Mom and Dad. The facilities are spotless and nicely updated. Each has a commercial kitchen where every meal served is prepared – no fast-food deliveries allowed!
All of the physical plants are all very well maintained and upgraded.
Most residents are paid for by the state at $3,500 per month, plus the cost of care, which ranges between $600 and $1,100 per month. Private pay residents are billed at $6,500 per month. Averaging all residents, the sellers state that they are earning $42,000 per client per year.
In addition to the nine assisted living facilities, two of those sites have two regular rental apartments each. Those rent at $1,200 per month each.
Two facilities have 16 beds, two have 10 beds, one has 24 beds, one has 19 beds, one has 8 beds and one has 7 beds for a total of 118 assisted living beds.
One of the facilities with 8 beds can be expended to 10 beds.
Another facility with 16 beds is on a 20 acre site. That land could be a good candidate for a 55+ / Senior Living community.
The sites are staffed at the state-required ratio of one caregiver to either residents. There is a part-time RN consultant who visits each facility every 3 months to review and update care plans.
One geographically-grouped set of 3 facilities has a regional manager to oversee them. The other group is managed by the owners and their son, who will stay on for up to 2 years and beyond that as a consultant.
***Confidential Listing, not in indicated area***
Listing Details
Reason For Sale:
Retirment
Training & Support:
Son of owner who oversees 6 of the nine will stay on for up to 2 years to assist.
Operation
Year Established: 2013
Days & Hours of Operation: 24/365
Owner Hours Per Week: 40
Managers: One general manager who oversees 3 homes and owner's adult son who oversees the other 6.
Location
Facilities Information:
Overview
Facility 1: 16 beds. $1.2M estimated value.
Facility 2: 16. beds (Has 20 acres and may be a candidate for building Senior Housing) $1.6M estimated value.
Facility 3: 19 beds. $2.2M estimated value
Facility 4: 24 beds. The real estate is leased from the town at $500/month for 10 years, with two 10-year extensions. No property tax as the lessor is a 501 (c) (3).
Facility 5: 10 beds. Potential to add a wing and another 10 beds. Waterfront property. $800,000 estimated value.
Facility 6: 8 beds (potential for 10). Two rental properties are attached. $450,000 total estimated value.
Facility 7: 7 beds. $250,000 estimated value.
Facility 8: 8 beds, potential to add 2 more on 3rd floor. $450,000 estimated value, plus a rental house behind the building with $100,000 estimated value.
Facility 9: 10 beds. $350,000 estimated value. 3 bed, 1 bath rental house behind the ALF $150,000 estimated value.
Private Pay rates: $6,500/month
Medicaid $3,500/month, plus cost of care, which ranges from $600 - $1,100 / month.
We have just been advised that Medicaid rates are increasing by 25%.
Labor: staff are paid $13.00 - $13.50/hour. House manager gets an additional $1.00/hour.
State mandated ratio of 8 residents to 1 care giver.
One geographically grouped set of 3 facilities has a regional manager to oversee them. The other group is managed by the owners and their son, who will stay on for up to 2 years and beyond that as a consultant.
Summary
Historical Summary:
All real estate, inventory & FFE is included in price.
Potential Growth:
One of the facilities with 8 beds can be expended to 10 beds.
Another facility with 16 beds is on a 20-acre site. That land could be a good candidate for a 55+ / Senior Living community.