Adult 55+
Address
312 N Roosevelt Avenue Fullerton, CA
Price
$ 12,750,000
Property Attributes
- ML#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
Visits
Year Built
Based on information from California Regional Multiple Listing Service, Inc. as of January 16, 2021 12:05 AM UTC 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.
Last updated: January 16, 2021 12:05 AM UTC Property Information © 2021 
Bridge MLS© 2021, Bay East© 2021. CCAR© 2021. EBRD© 2021. Information deemed reliable but not guaranteed. This information is being provided by the Bay East MLS or CCAR MLS or EBRD MLS. The listings presented here may or may not be listed by the Broker/Agent operating this website.
Data Updated: January 15, 2021 9:25 PM UTC
The data on our web site is taken from third-party sources, and has not been verified by Allison James Estates and Homes - LA or its agents.
*Our readers
The MLS™ Combined LA/Westside MLS® (CLAW): All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Greater Antelope Valley Association of Realtors®: All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless.
Based on information from California Regional Multiple Listing Service, Inc. as of January 16, 2021 12:05 AM UTC 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.
