16020 N 37th St - New Construction Luxury Assisted Living!

Opportunity:
We are pleased to present a rare investment opportunity to acquire a brand new, luxury 13-bedroom 14-bathroom assisted living home in the highly coveted Phoenix Kierland area! This exclusive offering provides the astute investor seeking cash flow and a higher cap rate, the chance to acquire a Class 'A' property in one of the nation’s most desirable communities for senior living. This 13bd home is conservatively projected to have gross monthly income exceeding $80,000 and an annual gross income surpassing $960,000! Don't miss this exceptional opportunity to own newly constructed luxury residential assisted living home with the potential for further growth and profitability. Construction to be completed in Q1 2025.
Why Kierland Phoenix:
This property offers serene desert landscapes combined with upscale living, catering to a sophisticated lifestyle. The residence is ideally located near premium healthcare facilities, lush parks, renowned Kierland and Paradise Valley Mall shopping centers, and gourmet dining, ensuring comfort and convenience for its occupants. The Phoenix area is renowned for its high quality of life, making it an attractive destination for retirees looking for luxury and tranquility.
Licensing:
The facility is licensed through AZDHS for a maximum of 10 assisted living residents. Designed with an open-concept floor plan, each of the 10 private bedrooms includes an en suite full bathroom and private courtyard, ensuring a premium living experience. Additional features include a hall bathroom, live-in caregiver suite with its own en suite bathroom, office, salon, laundry room, spacious living room, a gourmet chefs kitchen, ample storage, abundant natural light, formal dining area, and multiple common seating areas, all designed to promote an active and social lifestyle. Outdoor features a walking path and a tranquil patio area ideal for relaxation and social gatherings. With only 689 licensed 10-bedroom assisted living homes in Maricopa County, this residence is set to stand in the top 1% of assisted living homes in the Valley.
Value Add Opportunity for Expansion:
Value add opportunity includes applying for a 16bd exemption with the City of Phoenix to add on 6 additional bedrooms. The 16bd value add could increase month gross income to $112,000 and annual gross income to $1,344,000!