Listing Number: 6842-458017
This licensed Residential Healthcare Facility is a single-story, 54-bed home that provides a low-cost option for residents to live independently while still having access to assistance with daily living. Meal preparation, medication administration, linens, laundry and light housekeeping services are provided by the staff. All residents are able to care for themselves and most have daytime jobs or activities that they attend. Includes 18 bedrooms with a total of 54 beds set up as doubles, triples and quads. Bathrooms (8) are shared. There is a full commercial kitchen, group dining room, day rooms (2) with TVs, sofas, chairs, tables and vending machines, outdoor space, storage rooms, two offices and a separate garage and storage unit. The building has a sprinkler system, alarm system, three boilers (zoned oil heat) and has a backup generator (gas) for essential power. Resident turnover is low with some residents staying up to 15 years. Occupancy averages 90-95% and is currently at 100%. Revenue is mostly SSI or SSI + Social Security; some residents are private pay.
Facilities and Operating Hours:
Operating Hours: 24 hours/day, 365 days/year
Real Estate: Building is approximately 6,000 square feet on 1.4 acres. Constructed in 1968. It is in a residential neighborhood but is zoned commercial.
Staff: There are eleven full time and part time staff including an administrator, supervisor, porter and cooks plus medical staff that visit weekly. Low staff turnover.
The Transaction: The deal structure will be an asset sale. The reason for sale is the sellers’ desire to retire. This opportunity is offered at $1.3 million.
- Price: $1,300,000
- Down Payment: $650,000
- Sellers Discretionary Earnings: $137,899
- Total Sales: $559,142
- Location: Camden County, New Jersey
- Inventory: $0
- FF&E: $0
- Employees: 11
- Year Established: 1968
- Reason for Selling: Retirement
- Category: Care,Health Care & Fitness,Medical Related Biz,Real Property Rltd