142 W Ivanhoe Pl - Arizona Children's Group Home
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142 W Ivanhoe Pl - Arizona Children's Group Home
1,619 SF Health Care Building Offered at $815,045 CAD at a 10.96% Cap Rate in Chandler, AZ 85225
Investment Highlights
- High grossing easy rental income property with property management in place and long term tenant. Tenant runs a children's behavioral home for 5.
- Tenant in place since 2020 and would like to stay, current lease ends December 2023. Room to increase rent to $5500-$6000 or expand.
- Home was fully upgraded in 2018 including kitchen and bathrooms. Possibility to expand and zone for 10 residents - huge opportunity.
Executive Summary
Just reduced and priced at 11% Cap Rate with tenant in place until December 2024 and will renew for 12-18 month lease term! Seller willing to do up to a $150,000 seller carry back! Up for sale is a fully remodeled single family home in Chandler, Arizona with solar panels that is licensed as a behavioral health home for up to 5 residents. Home can be enlarged and licensed for up to 10 residents - will need to go through the City of Chandler. Current tenant in place since 2020 and renewed for a one year lease extension(ends 12/24) at $5,500/month and will sign a 12-18 month renewal when lease is up in December. Tenant owns and operates his own business, Arizona Children's Group Home, and will not be sold in conjunction with the property - just the property is for sale. $140/mo for solar and taxes are just under $1000/year with a total NOI of $65,000/year. Extremely easy rental with a 10.5% cap rate!! Tenant does not want to leave with potential to raise rent upon next renewal. Another option would be to start your own business when the current lease agreement ends - extremely rare to find a property in Chandler that can be licensed for up to 10 residents - once again the property is currently only licensed for up to 5.
Financial Summary (Actual - 2023) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$92,136
|
$56.91
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$92,136
|
$56.91
|
| Taxes |
$1,417
|
$0.88
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$1,417
|
$0.88
|
| Net Operating Income |
-
|
-
|
Financial Summary (Actual - 2023)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $92,136 |
| Annual Per SF | $56.91 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $92,136 |
| Annual Per SF | $56.91 |
| Taxes (CAD) | |
|---|---|
| Annual | $1,417 |
| Annual Per SF | $0.88 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $1,417 |
| Annual Per SF | $0.88 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
Property Facts
Room Mix Information
| Description | No. Beds |
|---|---|
| Home | 3 |
1 of 1
Walk Score ®
Very Walkable (75)
1 of 29
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Scottsdale Estates Assisted Living LLC
142 W Ivanhoe Pl - Arizona Children's Group Home
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