KIDDER.COM
CARROLL'S RESIDENTIAL CARE PORTFOLIO
OFFERING MEMORANDUM | 655 MOLLISON AVE & 523 EMERALD AVE | EL CAJON, CA
The information contained in the following Marketing Brochure is proprietary and strictly confidential. It is intended to be reviewed only by the party receiving it from Kidder Mathews and should not be made available to any other person or entity without the written consent of Kidder Mathews.
This Marketing Brochure has been prepared to provide summary, unverified information to prospective purchasers, and to establish only a preliminary level of interest in the subject property. The information contained herein is not a substitute for a thorough due diligence investigation. Kidder Mathews has not made any investigation, and makes no warranty or representation, with respect to the income or expenses for the subject property, the future projected financial performance of the property, the size and square footage of the property and improvements, the presence or absence of contaminating substances, PCB’s or asbestos, the compliance with State and Federal regulations, the physical condition of the improvements thereon, or the financial condition or business prospects of any tenant, or any tenant’s plans or intentions to continue its occupancy of the subject property. The information contained in this Marketing Brochure has been obtained from sources we believe to be reliable; however, Kidder Mathews has not verified, and will not verify, any of the information contained herein, nor has Kidder Mathews conducted any investigation regarding these matters and makes no warranty or representation whatsoever regarding the accuracy or completeness of the information provided. All potential buyers must take appropriate measures to verify all of the information set forth herein.
This information has been secured from sources we believe to be reliable. We make no representations or warranties, expressed or implied, as to the accuracy of the information. References to square footage or age are approximate. Recipient of this report must verify the information and bears all risk for any inaccuracies.
01INVESTMENT SUMMARY
02PROPERTY DESCRIPTION
03FINANCIALS
KIDDER.COM
PETER QUINN
858.369.3063 [email protected] N° 00806439
EXCLUSIVELY LISTED BY
CALDER CONRAD
505.401.1211 [email protected] N° 01987879
TABLE OF CONTENTS
01INVESTMENT
SUMMARYTHE OFFERING - CARROLL'S RESIDENTIAL CARE PORTFOLIO
INVESTMENT HIGHLIGHTS
EL CAJON, CA OVERVIEW
3 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
Kidder Mathews is pleased to present Carroll’s Community Care Facilities for Sale in El Cajon, CA.
THE OFFERING
Carroll’s Care Portfolio consist of two residential care facilities:
Carroll’s Residential Care – 144 bed Retirement & Assisted Living facility.
Carroll’s Community Care – 70 bed Co-ed adult residential facility.
INVESTMENT SUMMARY
Carroll’s Residential Care is for Seniors and older adults in need of an assisted living facility usually needing help with some basic daily needs. Carroll’s Assisted living facilities offer services such as Independent Living, Personalized Assisted Living, Memory Care for Alzheimer’s Rehabilitation, Dementia, and Skilled Nursing.
Other programs include providing rehabilitation, fitness, educational programming and health services to seniors.
Residents will also receive
CARROLL’S RESIDENTIAL CARE
PROPERTY OVERVIEW
Location 655 S. Mollison Ave El Cajon, CA 92020
APN 493-102-04
Property Type Assisted Living
Units 72
Patient Capacity 144
GBA 33,796 SF
Land Area 1.47 AC (64,033 SF)
Year Built 1970
Zoning RM-4300
Price $5,500,000
Price/Bed $38,194
Price/SF $162.74
Parking Spaces 35
Construction Type Wood Frame
Roof New Roof 2019
655 S MOLLISON AVE EL CAJON, CA 92020
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assisted care with medication, mobility, meal preparation, eating, bathing, dressing and housekeeping.
4 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
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THE OFFERING
Carroll’s Community Care – 70 bed Co-ed adult residential facility that serves mentally ill individuals ages 18-59.
A licensed boarding care facility, one level above independent living, providing 24-hour staff serving three meals and medication
INVESTMENT SUMMARY
management, including a 30-day calendar of activities, group recovery and nutrition programs. Accepts SSI and SSA payees preparation, eating, bathing, dressing and housekeeping.
CARROLL’S COMMUNITY CARE
PROPERTY OVERVIEW
Location 523 Emerald Ave El Cajon, CA 92020
APN 487-542-05, 487-542-06, 487-542-07, 487-542-08
Property Type Assisted Living
Units 40
Patient Capacity 70
GBA 11,664 SF
Land Area 1.64 AC (71,631 SF)
Year Built 1974
Zoning RM- 2200
Price $2,500,000
Price/Bed $35,714
Price/SF $214.33
Parking Spaces 16
Construction Type Wood Frame
523 Emerald Ave El Cajon, CA 92020
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KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
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CARROLL'S RESIDENTIAL CARE PORTFOLIO INVESTMENT HIGHLIGHTS
6 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
Carroll's Residential Care Portfolio
Offers the ability for an owner-operator to revitalize two existing facilities for a total of 214 beds.
The properties
Are currently leased to one operator until February 2023 with no options to renew.
Landlord obligations include foundations, exterior walls, landscaping, parking lot and HVAC systems.
Tenant obligations include payment of real estate taxes, insurance, and interior repairs.
This Opportunity
Allows an operator to maximize revenue through managementexpertise and taking advantage of all available subsides from city, state and county programs.
Can be sold separately.
Both properties are located a designated opportunity zone.
655 S MOLLISON AVE523 EMERALD AVE
EL CAJON
LA MESA
CASA DE ORO RANCHO SAN DIEGO
Mission Trail Regional Park
GRANITE HILLS
E C H A S E A V E
STREETS - MAPS
AV
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PEPPER DR
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GREENFIELD DR
7 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
8
EL CAJON, CA OVERVIEW
Through the years El Cajon has grown into a prosperous and beautiful city and like any great city, it is important to preserve the memories of time past to share with future generations.
Nestled in a scenic valley edged by mountains and the San Diego coast, El Cajon is a charming city with great shopping, dining, arts, and outdoor recreation.
The heart of San Diego's East County, El Cajon offers exciting attractions including Sycuan Golf Resort and Casino. See a game at Qualcomm Stadium, take the
ferry to Coronado Island or explore downtown San Diego, Seaport Village, San Diego Zoo and SeaWorld. Or just soak up some California sunshine at Pacific Beach.
DESIRABLE EAST COUNTY LOCATION
According to the United States Census Bureau, the city has a total area of 14.4 square miles of land. It is bordered by San Diego and La Mesa on the west, Spring Valley on the south, Santee on the north, and unincorporated San Diego County on the east. It includes the neighborhoods of Fletcher Hills, Bostonia, and Rancho San Diego
EXCELLENT ACCESS TO TRANSPORTATION
External organizations provide transportation services such as bus, taxicab, and trolley services.
347,395
POPULATION (2019 - 5 MILES RADIUS)
14.4
TOTAL AREA (SQ MILES)
SAN DIEGO
EAST COUNTY
$ 77,827
MEDIAN HOUSEHOLD INCOME
655 MOLLISON AVE
523 EMERALD AVE
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2ND STREET
02PROPERTY
DESCRIPTIONPROPERTY SUMMARY
AMENITIES
FLOOR PLANS
MAPS & AERIALS
9 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
PROPERTY SUMMARY CARROLL'S RESIDENTIAL CARE
Address 655 S. Mollison Ave El Cajon, CA 92020
APN 493-102-04
Property Type Assisted Living
Units 72
Patients Capacity 144
GBA 33,796 SF
Land Area 1.47 AC (64,033 SF)
Year Built 1970
Zoning RM-4300
Price $5,500,000
Price/Bed $38,194
Price/SF $162.74
Parking Spaces 35
CONSTRUCTION SPECIFICATIONS
Construction Type Wood Frame
Roof Age 2019
Unit Mix 2 Bed/1 Bath
PROPERTY DESCRIPTION655 S MOLLISON AVE
10 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
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S MOLLISON AVE
CARROLL'S RESIDENTIAL CARE
11 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
FLOOR PLAN CARROLL'S RESIDENTAIL CARE
Open Court YardRecreation
Open Court YardRecreation & Dining
Pati
ents
Storage
Tras
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Ele
ctri
cal
Corridor Corridor
Kit
chen
Cooler
Walk In
Freezer
Walk In
Dry
Sto
rag
e Men RR
Women RRJanitor
Storage
Linen
Men RR
Women RRJanitor
Corridor
Co
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or
Co
rrid
or
LinenJan
Storage Storage
General
Office
Sto
rag
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Private
Office Water
heaters
Toile
tTo
ilet Woman's
Dress and lockers
Men's Dress and lockers
Doctor
& Exam
Me
ds
sto
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Co
rrid
or
Janitor
Linen Soil Linen
Laundry
Staff
Corridor
CorridorCorridor
Unit Mix: 2Bed/1Bath
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12 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
Carroll's Residential Care Community AmenitiesCommercial kitchen
Lush low-maintenance landscaping
Two interior courtyards – Mature landscaping & fountain
Laundry area
Front office and reception area
13 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
523 EMERALD AVE
14 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
PROPERTY SUMMARY CARROLL'S COMMUNITY CARE
Address 523 Emerald Ave El Cajon, CA 92020
APN 487-542-05, 487-542-06, 487-542-07, 487-542-08
Property Type Assisted Living
Units 40
Patients Capacity 70
GBA 11,664 SF
Land Area 1.47 AC (64,033 SF)
Year Built 1974
Zoning RM- 2200
Price $2,500,000
Price/Bed $35,714
Price/SF $214.33
Parking Spaces 16
CONSTRUCTION SPECIFICATIONS
Construction Type Wood Frame
Kitchen/Dining Facility
Unit Mix 2Bed/1Ba
PROPERTY DESCRIPTION
N
EMER
ALD
AV
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BUILDING 1
BUILDING 2
CARRROLL'S COMMUNITY CARE
15 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
FLOOR PLAN CARROLL'S COMMUNITY CARE
FIRST FLOOR - BUILDING 1
Recreation & Dining room
Guest room
Guest room
Kitchen
Guest room
Bath
OfficeBath
Guest room Guest roomGuest roomGuest room
Bath Bath
Guest roomGuest room
Guest room Guest room
16 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
SECOND FLOOR - BUILDING 1
Bath
Guest roomGuest room
Guest room
Guest room
Bath Bath
Guest room
Guest room
Guest room
Guest roomGuest roomGuest roomGuest room
Balcony
Balcony
Kitchen Kitchen Guest room
Recreation room
FLOOR PLAN CARROLL'S COMMUNITY CARE
KitchenBath
17 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
BUILDING 2
FLOOR PLAN CARROLL'S COMMUNITY CARE
* Floor plan not actual scale
Living Room
Recreation Room
BathBat
h
Bat
h
Bat
h
Laun
dry
Bat
h
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room
Guest Room Guest
Room
Guest Room
Guest Room
18 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
Carroll's Community Care AmenitiesCourtyard
Recreation room
Activity room
19 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
CARROLL'S RESIDENTIAL CARE PORTFOLIO
EL CAJON
SANTEELAKESIDE
655 MOLLISON AVE
523 EMERALD AVE
N
20 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
03FINANCIALS
OVERVIEWPROPERTY RENT SUMMARY
ESTIMATED OPERATING EXPENSES
OPERATING INFORMATION INCOME
NET OPERATING INCOME
21 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
FINANCIALS OVERVIEW
PROPERTYMONTHLY RENT ANNUAL RENT
LEASE
EXPIRATION
655 S Mollison Ave $9,000.00 $108,000.00 2/14/2023
455 & 523 Emerald Ave $7,250.00 $87,000.00 2/14/2023
OPERATING INFORMATION INCOME
Property Taxes Tenant Responsibility
Utilities Tenant Responsibility
Insurance Tenant Responsibility
Roof repair & Maintenance Landlord Responsibility
Repairs & Maintenance Landlord Responsibility
HVAC & Mechanical Systems Landlord Responsibility
Total Gross Income $195,000.00
Total Estimated Landlord Expenses $25,000.00
Net Operating Income $170,000.00
ESTIMATED OPERATING EXPENSES
Property Taxes
455 & 523 Emerald Ave $26,897.06
655 S Mollison Ave $65,587.16
Insurance $13,000.00
Management $6,000.00
Repairs Maintenance $6,000.00
22 KIDDER MATHEWS OFFERING MEMORANDUM 655 MOLLISON AVE & 523 EMERALD AVE
KIDDER.COM
EXCLUSIVELY REPRESENTED BY
PETER QUINN
[email protected] N° 00806439
CALDER CONRAD
[email protected] N° 01987879