ID#004420   Approximate Bed/Units:  45 + 60    Location:  Forrest City & Memphis

Another firm is pleased to introduce a portfolio of 2 facilities. The first facility is priced at $1.5M and the second is $2.5M. The first facility is a versatile property offering boundless potential in Forest City, Arkansas. Built in the 1960s, this property has been thoughtfully maintained and recently upgraded with a new roof installed in 2021, representing a significant investment in its longevity and structural integrity. With its spacious layout and ample amenities, the possibilities are limited only by your imagination. It is currently licensed by the state of Arkansas for a Residential Care Facility with capacity for 45 beds/29 rooms, including specialized spaces such as a beauty shop, a medication room, two break rooms, and four offices. This licensing provides a solid foundation for various healthcare or residential care operations. Essential amenities include an industrial washer and dryer, PTAC unit heating and cooling in all rooms, and three industrial heating and air central units for common areas. The property offers essential amenities to support a wide range of activities and services. The property features a fully operational industrial emergency sprinkler system, ensuring the safety and well-being of occupants. Additionally, its tranquil neighborhood setting provides a secure and peaceful environment for residents or clients. Despite staffing challenges attributed to high demand for care services, the property remains financially viable, with revenue potential from Medicaid and SSI support. With strategic management and operational improvements, it has the potential to generate substantial returns for investors or operators. Utility costs for the property are within reasonable ranges, with estimated expenses of $1,500 for water, $2,300 for electricity, and $3,000 for gas. While there have been reported plumbing and hot water issues, the property features three industrial-sized hot water boilers to address these concerns. All existing bed frames and furniture convey with the property, along with 50 new beds and mattresses/box springs, providing a turnkey solution for potential buyers or operators. Spanning over 18,000 square feet on a 1.5-acre lot, the property offers ample space for expansion and development. Its convenient location in Forest City provides easy access to local amenities, healthcare facilities, and transportation networks. This property presents a rare opportunity for investors or operators seeking a versatile property with endless possibilities for use and development. With its licensing, amenities, and strategic location, it is poised to become a cornerstone of the community, catering to a diverse range of needs and clientele. The second facility is a fully operating and staffed Residential Care Facility with 60 beds.

 

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Forrest City & Memphis $4M ID#004420

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