0000 Halcyon Rd, Arroyo Grande, CA 93420

Property Details for 0000 Halcyon Rd

Lot size

0.81 lot acres

Property type

Retirement homes

Property subtype

Assisted living facilities

Description

This turnkey assisted living facility and Residential Care Facility for the Elderly (RCFE) presents a unique investment opportunity in Arroyo Grande, California. The property boasts a 32-bed license, currently housing 24 private bedrooms all located on the first floor, with a hospice waiver for six additional beds. The facility serves clients requiring RCFE and hospice care, and is comprised of two buildings totaling 11,368 square feet on a 0.81-acre lot. While title records show 11,368 square feet, approximate measurements indicate a larger footprint of 13,185 square feet for the main building and an additional 981 square feet for a storage building. Buyers should conduct their own measurements to verify square footage. Built in 1953, this property offers significant upside potential. Expansion possibilities include converting the storage building and first-floor office space into an additional 29 private bedrooms (by relocating the office to a built-out attic space). Furthermore, the seller owns two adjacent residential lots, with pre-existing plans to expand the facility onto these lots, potentially creating a much larger 49-bedroom facility. The business, furniture, fixtures, and equipment (FF&E), and real estate are all included in the asking price of $4,600,000. The property is classified as Class C. Opportunities exist to increase occupancy through targeted advertising campaigns and exploring the possibility of transitioning to dementia care. The potential for increased revenue through double occupancy in existing rooms also presents a compelling investment opportunity.

Location Insight

City

Arroyo Grande

County

San Luis Obispo

State

California

Longitude

-120.592

Latitude

35.1187