Adult 55+
Address
312 N Roosevelt Avenue Fullerton, CA
Price
$ 12,750,000
Property Attributes
  • MLS#OC20167441
  • TypeIncome
  • CountyORANGE
  • CityFullerton
  • AreaFullerton
  • NeighborhoodOther
  • Zip92832
  • Style
  • Price$ 12,750,000
  • Bedrooms0
  • Full Bathrooms0
  • Half Bathrooms0
  • Sqr Footage34000
  • Lot Size0.92 Acres
Listing Provided Courtesy Of:
Tom Nguyen with Hopkins Global Inc..
Property Description

The Palm Retirement Center is a rarely offered 144 Bed Assisted and Memory Care facility located in Fullerton, California. The residential care facility (RCFE) consists of 108 assisted living beds and 36 memory care beds situated in separate wings. Amenities include a large dining hall and commercial kitchen, laundry facility, recreation rooms, library, salon, and two outdoor courtyards. The 34,000 SF facility is situated on a 40,750 SF lot and has been a home for assisted living residents since 1977. The Property is being offered a 6.3% cap rate on current income at 9% vacancy with major upside in rents and potential added value. Current ownership is a low budget "mom and pop" operation with substantially below market rents. According to the 2019 Genworth Cost of Care Survey, the average cost of assisted living per resident in the Los Angeles Metro Market is $4500 a month. Through modernization and professional management, an investor can acquire this asset and achieve significant upside in cash flow and value.

Price History
8/17/2020 Listed $12,750,000

General Features

Attached Structure Detached
Community Features Curbs, Sidewalks, Storm Drains, Street Lights
Directions just Southeast of Euclid and Chapman Ave.
Garage Spaces 0.00
Levels Two
Listagentaor Orange County
Listing Agent Tom Nguyen - BRE#01342497
Listing Agent State License 01342497
MLS Area 83 - Fullerton
Pool Features None
Price Per Square Foot 375.00
Senior Community Y/N Yes
Sewer Public Sewer
Source System CRMLS
Spa Features None
Special Listing Conditions Standard
Subdivision Name other
Subdivision Name Other (OTHR)
Total Units 72
Zoning C

Interior Features

1st Bedroom Area Unit Type Square Feet
2nd Bedroom Area Unit Type Square Feet
3rd Bedroom Area Unit Type Square Feet
Common Walls No Common Walls
Laundry Features Common Area
Laundry Y/N Yes
Studio Area Unit Type Square Feet
Total Stories 2

Exterior Features

Building Area Total 34000.00
Lot Features 36-40 Units/Acre, Lot Over 40000 Sqft
Lot Size Acres 0.9200
Lot Size Area 40075.0000
Lot Size Source Assessor
Lot Size Square Feet 40075.00
Lot Size Units Square Feet
Number of Buildings 1
Number of Separate Electric Meters 1
Number of Separate Gas Meters 1
Number of Separate Water Meters 1
Total Parking 20.00
Uncovered Spaces 20.00
Water Source Public

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Master On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Zip Code Average in 92832

Price
AVG $3.64M
$12.75M
Visits
AVG 169
203
Year Built
AVG 1957
1979

Looking for a more comfortable experience?

Download our mobile app for a personalized browsing experience.

Areas We Cover