ID#043201   Approximated Beds/Units:  16 + 16    Location:  Manvel & Houston

Another firm is pleased to introduce two beautiful secured AL and MC properties in Pearland and Copperfield. Located in the Houston suburbs; two former 16 Suite properties are in fabulous condition and ready for their next owner. We have decided to focus on our North Texas properties and list these two for sale. We are asking $2.85 million for each property. We acquired both properties out of Bankruptcy and spent over a year preparing them for licensing. Both properties had zero occupancy at the time of acquisition. Both properties will be fully licensed as Class B Small Assisted Living with Alzheimer’s certification. These are well-designed and spacious properties. Both properties appraise in excess of $3,000,000. The EBITDA is projected to be approx. $325,000 per property once stabilized. These are two similarly designed buildings with 16 suites each. The buildings are 6,200 and 5,300 square feet respectively. Both buildings are fully sprinklered and have recently passed DHHS Life Safety. All fire and sprinkler systems are in good working order. Both properties have a separate hair salon and beautiful back patio areas. Both buildings have secured entry for the safety of its residents. (Home Based). The buildings are currently around 50% occupancy. We were unable to fill the buildings during the licensing process. There is a strong opportunity to stabilize the buildings and create greater value for both properties. Seller IS willing to consider Seller Finance 10% of the purchase price up to $500,000. Support & training is negotiable.

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Manvel & Houston $5.7M ID#043201

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