Licensed Assisted Living
For Sale
$749,999
607 W VILLA RITA Drive, Phoenix, AZ 85023
Furnished residential care property with approved capacity for 10 residents and an included operating business.
Property Size2,853 SF
Days on Market147
Property Features for 607 W VILLA RITA Drive
General Information
Standard status
Active
Size
2,853 SF
Property subtype
COMMERCIAL
Additional Details
Business Included
Yes
Amenities
fenced pool and spa
Building Details
Building Size
2,853 SF
Listing Agency:
Real Broker
Listed By:
Adrian Cirjan · License #BR624293000
(602) 810-2106
Source:
Jcluxuryresidential
Added: May 24
Changed: Oct 17
Last Checked: Oct 16 at 5:50PM
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 Real Broker
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Investment Insights
Based on property information with market context.
This assisted living facility at 607 W Villa Rita Dr in Phoenix includes the real estate, operating business, furnishings, and improvements. The property is licensed for 10 residents and is qualified for behavioral health use, although no residents are currently in place. Interior upgrades include granite countertops along with travertine and laminate flooring.
Outdoor amenities include a fenced pool and spa. A permitted garage conversion provides two bedrooms and a half bath beyond the primary bedroom count; the space can be changed back to garage use. The property is offered with its furniture, supporting a furnished care-facility setup.
Outdoor amenities include a fenced pool and spa. A permitted garage conversion provides two bedrooms and a half bath beyond the primary bedroom count; the space can be changed back to garage use. The property is offered with its furniture, supporting a furnished care-facility setup.
Key Highlights
- Licensed assisted living facility with capacity for 10 residents
- Operating business and real estate included
- Behavioral Health qualified
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$33,276
Cap Rate
4.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,520
$665.5K
Cap Rate 7%
$475,371
$475.4K
Cap Rate 9%
$369,733
$369.7K
Market Conditions
NOI Build-Up for 2,853 SF
Gross rent
$64.4K $22.56/SF
− Vacancy
−$3.9K −$1.35/SF
EGI
$60.5K $21.21/SF
− OpEx
−$27.2K −$9.54/SF
NOI
$33.3K $11.66/SF
Area
Phoenix, AZ
Vacancy
6.00%
Lease Rate
$22.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$665,520
Cap Rate 7%
$475,371
Cap Rate 9%
$369,733
Alternative Uses
Best Use
Apartment 5plus
$475.4K
$416.0K – $554.6K
NOI $33,276 @ 7.0% cap · market cap 4.44%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$864.2K
$756.2K – $1.01M
NOI $60,494 @ 7.0% cap · market cap 8.07%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
268
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 85023, AZ
35,241
Population
14,765
Households
2.4
Avg Household Size
36
Median Age
32%
College-Educated
91%
High-School Grad
7.4 sq mi
ZIP Area
4,762
Density / Sq Mi
$72,442
Median Household Income
$43,936
Median Earnings
$1,429
Median Rent
$359,200
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Similar Off Market Nearby
- Charleston Manor, LLC — 1610 w charleston ave, phoenix, az 85023
- Charleston Assisted Living LLC — 1532 W Charleston Ave, Phoenix, AZ 85023
- Best Care Home of Moon Valley — 18006 N 6th Dr, Phoenix, AZ 85023
- Caring Hand Assisted Living — 1601 W Villa Maria Dr, Phoenix, AZ 85023
- Oasis Independent Living — 1601 W Villa Maria Dr, Phoenix, AZ 85023
Frequently Asked Questions
What type of property is this?
Assisted living facility - Furnished residential care property with approved capacity for 10 residents and an included operating business.
Where is this assisted living facility located?
The property is located at 607 W VILLA RITA Drive Phoenix, AZ.
What is the asking price?
The asking price for this property is $749,999.
What are key features of this property?
This property features: Licensed assisted living facility with capacity for 10 residents; Operating business and real estate included; Behavioral Health qualified
