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312 N Roosevelt Avenue, Fullerton, CA

$12,750,000 - 144 Beds - 72 Baths - 34,000 Sqft - 40,075 Lot Sq. Ft

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.

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Essential Information

For 312 N Roosevelt Avenue, Fullerton, CA
  • MLS® # OC20167441
  • Price $12,750,000
  • Bedrooms 144
  • Bathrooms 72.00
  • Square Footage 34,000
  • Lot Square Footage 40,075
  • Year Built 1979
  • Type Residential Income
  • Status Active

Community Information

For 312 N Roosevelt Avenue, Fullerton, CA
  • Address 312 N Roosevelt Avenue
  • Area Fullerton (83)
  • Subdivision Other (OTHR)
  • City Fullerton
  • County Orange
  • State CA
  • Zip Code 92832

Amenities

For 312 N Roosevelt Avenue, Fullerton, CA
  • Parking Spaces 20

Interior

For 312 N Roosevelt Avenue, Fullerton, CA
  • # of Stories 2
  • Stories Two

Exterior

For 312 N Roosevelt Avenue, Fullerton, CA

Lot Description

For 312 N Roosevelt Avenue, Fullerton, CA

36-40 Units/Acre, Lot Over 40000 Sqft

Additional Information

For 312 N Roosevelt Avenue, Fullerton, CA
  • Date Listed August 14th, 2020
  • Days on Market 65
  • Zoning C

312 N Roosevelt Avenue Fullerton MLS® #OC20167441

You are viewing the for at 312 N Roosevelt Avenue with the MLS® OC20167441 on Previewochomes.com. This at 312 N Roosevelt Avenue, CA . 92832 is located in the Other (OTHR) subdivision and is currently for featuring 34000 sq.ft. of living space, a 40075 sq.ft. lot and listed for sale at $12,750,000. This for at 312 N Roosevelt Avenue with the MLS® # OC20167441 has been listed since 2020-08-14.

Please contact us for additional information and assistance.

Based on information from California Regional Multiple Listing Service, Inc. as of October 22nd, 2020 at 2:36am PDT. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

Property Listed By: Tom Nguyen(01342497) of Hopkins Global Inc.