MLS® ID: A4215524
10637 LITHIA PINECREST ROAD
LITHIA, Florida, 33547 $1,145,000
Motivated Sellers! Updated, 16 Beds MONEY MAKING ALF operated by The Same Owner for 23 Years. Reliable Annual Income Received is Approximately 25% Below Market Rent (Market Rent Increase Would Generate Over 22% Cap Rate.) This Well Established ALF Sits on 5 Commercial Acres (Can Modify Existing Building to 24 Beds.) Can Expand beyond 24 Beds (on 5 Acres Commercial Property) and Could be Perfect to Include Lucrative Memory Care Units.
Seller Will Also Consider an Attractive Lease with Two Acres.
In Addition, Seller Has a Fully Operating Recently Renovated, Profitable 6 Beds ALF Available(nearby) on 1 Commercial Acre for Only an Additional $325,000. A Great Opportunity to Include Lucrative Memory Care Units. Sold Separately or Package Deal.
Seller is Religious and Under Charges Some of the Residents as a Way of Giving Back to the Community. If New Residents Were Charged the Going Rate, it Would Increase the Bottom Line Significantly!
The Seller and Her Team Would be Willing to Stay up to a Year to Help With the Transition.
The Sellers are Committed to Helping New Buyers Succeed and Will be Available to Help Throughout the Transition.
The ALF's are located in Hillsborough County. According to the 2010 census, population was 1,229,226, making it the fourth most populous county in Florida. Please call or email If you are interested in further information about this golden opportunity.
dimensions approximate, buyers to verify. Information deemed reliable but not guaranteed.