8735 Long Cross Dr Richmond, TX 77406

Exceptional investment opportunity: a nearly permitted 11-bed assisted living facility in Richmond, Texas. This beautifully maintained, two-story home, built in 2013 and extensively renovated in 2024, boasts 3,720 square feet on a 9,501 square foot lot (APN R413851). The property features five bedrooms and 5.5 bathrooms, designed to comfortably accommodate residents. A projected monthly pro-forma net operating income (NOI) of $48,165 is based on pre-licensing resident allotment rates. The facility includes a convenient on-site gym located in the garage, and a fire suppression system with an above-ground tank. The property is nearly ready for operation, with the current owner providing guidance on the remaining permitting process and operational logistics, including medical services. This turnkey opportunity presents a strong return on investment, with potential for expansion to 13 beds. The asking price is $920,000, translating to $247.31 per square foot and $83,636.36 per bed. A virtual tour is available online. This is a Class A property ready for a new owner to capitalize on the growing demand for senior living services in the area.