Haven Senior Investments is proud to present for sale a class-A, 38-unit, 46-bed Assisted Living and Memory Care Community located in the Sacramento suburb of Cameron Park, CA. Built in three phases, the Community was completed in 2022 and is the newest community in the competitive market. The 12,300 square-foot building on .84 acres, was purpose-built with thoughtful intent for the care and comfort of assisted living and memory care residents boasting high-quality finishes and building materials. In addition to the common areas and living spaces, the community contains attractive amenity spaces including a movie theater, a commercial kitchen, a dining room, a library, and a salon. Additionally, the market demonstrates high current and future demand for assisted living within a 15-minute drive time of the Community, with a projected increase in seniors aged 75+ of over 19% in the next five years. Under the current operating model, 39 residents across 37 units is the maximum capacity imposed by the operator; however, a new buyer/operator may utilize all 38 available units, with licensure for 46 beds and the flexibility afforded by nine units sized for double occupancy to increase the Community to its full potential. As currently leased, revenues and expenses yield an annualized EBITDAR of $890,000, representing an operating margin of 32.5%. By merely opening the existing additional capacity, and assuming a 90% occupancy thereof, the property is projected to generate a 35% operating margin and produce over $1.1m EBITDAR. The current owner/operator is primarily a developer looking to exit the investment to focus on other investment opportunities. The Community is offered free and clear of debt, liens, encumbrances, or management agreements.

Haven Senior Investments is proud to present a 22 unit, 44 bed memory care community located in the San Joaquin Valley and Fresno MSA. Fresno is the fifth largest city in California and largest inland population in the state. The community is currently owned and operated by a local family who are retiring after many years of ownership.

Fresno County is approved for the California Assisted Living Waiver (ALW) program. The ALW program is a highly sought after California program, which will allow a new owner to restructure the Community to capitalize on the extremely high demand in the market for government subsidized, assisted living and memory care. The community is currently operating with 27 residents in place. However, an optimized per-unit utilization may be achieved through participation in the ALW program, which has a higher demand in the subject area than private-pay as well as higher per-bed rates. By dedicating 50% of the facility’s beds to ALW, the average per-bed rate increases by nearly 20%, while allowing for a higher utilization of the licensed bed count. Post-ALW stabilized revenue is over $2,500,000, which represents a 34% increase. Further accounting for additional labor and other costs associated with increased bed count as well as higher acuity care, shows EBITDAR to increase by 25% to $750,000, operating at a 29.7% profit margin.

The physical plant has been well maintained and updated over the years requiring very little in additional capital expenditure. Recent improvements include roof, flooring, HVACs, appliances and paint.

• In place cashflow with significant upside.
• 11% Cap Rate going in, 21% Cap Rate post repositioning.
• Opportunity to recognize ~32%+ leveraged IRR over 5 year hold period.
• Recent and significant renovations to the property = turn key physical plant.
• Fresno is the 5th largest city in CA. This community is 15 miles from downtown Fresno.
• Excellent reputation in the local market.

Haven Senior Investments is proud to present an amazing Retirement Resort that is a 96-bed Assisted Living Community built in 1999 that sits on 5.52 acres in San Bernardino County. The community was recently approved for the California Assisted Living Waiver (ALW) program. The ALW program is highly in demand in California which will allow a new owner to transform the Community and capitalize on the extreme demand in the market for government subsidized assisted living and memory care. The community is currently owned and operated by a local family who are retiring after 11 years of ownership. The Community currently has 21 residents in single occupancy, private pay rooms. Haven has been advised by the leading expert in ALW reimbursement that minor policy and procedure changes will capture 5 to 8 residents per month with stabilization reaching 100% occupancy. Upon stabilization, the community is projected to operate at a 25% operating margin producing approximately $1.04M in EBITDAR. The physical plant has been well maintained needing very little capital expenditures. Additionally, the hub and spoke design of the community allows for an operator to strategically group residents by acuity level while presenting very little interruption to operations during the transitional lease-up period. Two additional parcels totaling 5.26 acres are also available for sale. These parcels were previously approved for skilled nursing and assisted living by the city of Hesperia during a proposed expansion, which was postponed. The owners have 60 Independent Living apartments on an adjacent parcel they plan to keep, but will offer a First Right of Refusal. This Community is being offered free and clear of debt, liens, encumbrances, or management agreements. Contact us for further instructions on bidding procedures.
HIGHLIGHTS:
• Recent approval for the California Assisted Living Waiver program will provide high reimbursement rates.
• Unique floor plan is ideal for servicing higher ALW Tier levels or even memory care.
• Tremendous value add opportunity to increase NOI to over $1,000,000 in a short period of time.
• Additional parcels available for future growth.
• Large event space on second floor generates additional rental income outside of senior operations.