Licensed Assisted Living
For Sale
$1,900,000
1810 Landrake Road, Towson, MD 21204
Licensed assisted living facility with 16 beds and 11 bathrooms, featuring elevator access and an on-site manager residence.
Property SizeContact for details
Lot Size1.40 Acres
Days on Market931
Property Features for 1810 Landrake Road
General Information
Standard status
Active
Lot size
1.40 Acres
Property subtype
Commercial
Occupancy
50%
Lease Term
[]
Additional Details
Business Included
Yes
Amenities
elevator access
on-site manager/owner residence
Building Details
Year Built
1902
Listing Agency:
Ghimire Homes
Listed By:
Ishwar Nick Adhikari
(410) 497-5238
Source:
Deepcreeklake
Added: Feb 26, 2024
Changed: Sep 13
Last Checked: Sep 13 at 9:56AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Ghimire Homes
Investment Insights
Based on property information with market context.
This offering is a licensed assisted living facility configured for 16 beds and 11 bathrooms. The property includes an on-site manager/owner residence and elevator access. The facility has undergone recent capital improvements, including updated electrical systems, new or upgraded HVAC, hot water system updates, roof improvements, and driveway enhancements.
The seller notes the facility is currently operating below capacity due to absentee ownership, with occupancy described as approximately 50%. The presentation highlights a potential value-add approach tied to capacity and occupancy improvement, subject to OHCQ and County approval.
For qualified buyers, proof of funds or lender pre-approval is required to obtain additional information, and an NDA is required for detailed financials and disclosures. This is a pro-forma, value-add opportunity and the projections are not guaranteed, with buyers advised to conduct independent due diligence, including verification of licensing and property details.
The seller notes the facility is currently operating below capacity due to absentee ownership, with occupancy described as approximately 50%. The presentation highlights a potential value-add approach tied to capacity and occupancy improvement, subject to OHCQ and County approval.
For qualified buyers, proof of funds or lender pre-approval is required to obtain additional information, and an NDA is required for detailed financials and disclosures. This is a pro-forma, value-add opportunity and the projections are not guaranteed, with buyers advised to conduct independent due diligence, including verification of licensing and property details.
Key Highlights
- Licensed assisted living facility with capacity for 16 beds and 11 bathrooms
- Currently operating at about 50% occupancy with an average market rate cited as $4,000–$7,000/month per resident (avg. $5,500)
- Pro‑forma full occupancy revenue projected at $88,000/month ($1,056,000 annually)
Property Analytics
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Open Analytics
Current Use
Lease Details
50%
Occupancy
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
101
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 21204, MD
20,967
Population
9,529
Households
2.2
Avg Household Size
36
Median Age
73%
College-Educated
96%
High-School Grad
6.3 sq mi
ZIP Area
3,328
Density / Sq Mi
$98,452
Median Household Income
$53,889
Median Earnings
$1,894
Median Rent
$571,800
Median Home Value
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Frequently Asked Questions
What type of property is this?
Assisted living facility - Licensed assisted living facility with 16 beds and 11 bathrooms, featuring elevator access and an on-site manager residence.
Where is this assisted living facility located?
The property is located at 1810 Landrake Road Towson, MD.
What is the asking price?
The asking price for this property is $1,900,000.
What are key features of this property?
This property features: Licensed assisted living facility with capacity for 16 beds and 11 bathrooms; Currently operating at about 50% occupancy with an average market rate cited as $4,000–$7,000/month per resident (avg. $5,500); Pro‑forma full occupancy revenue projected at $88,000/month ($1,056,000 annually)
