Gross Revenue (annual): $606,000
Net Income (annual): $203,000
Average Bed Rate (monthly): 1,749
Two 20-bed assisted living facilities for sale in the Greater Grand Rapids area. Each facility is licensed 20 bed Adult Foster Care. One facility is currently operating at full capacity, while the other is operating at 65%, mainly due to four of the units being remodeled. Both facilities are receiving monthly bed rates that are far below market, allowing significant room for increased revenue. Both facilities are receiving supplemental payments from the State of Michigan as well as other agencies in addition to the money collected from the residents each month.
This is a fantastic opportunity to step into two facilities that are already profitable and priced based on their current revenue and increase revenues significantly over the next 6-12 months.
Fantastic value add opportunity
Priced based on current valuation
Increased bed rates in both locations plus increased occupancy in one can double revenue
Staffing costs are low due to one facility having some staff living on site in an attached apartment