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    24591 Saturna Drive

    Mission Viejo, CA 92691
    • $850,000
    • STATUS: CONTINGENT
    • ON SITE: 74 days
    • ID#: 302532980
    Under Contract
    UPDATED: 48 min ago
    $850,000
    • 6
      BEDS
    • 0.18
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1969
    County:

    School Ratings & Info

    Description

    INCREDIBLE OPPORTUNITY to own a well-established and well-maintained Residential Care Facility for the Elderly (R.C.F.E.) business in Mission Viejo. Situated in a quiet and charming community, this 6 bedroom (5 resident along with 1 staff room) and 2 bathroom facility offers an open floor plan with a very generous dining/living room that connects to the oversized kitchen. Lots of counter space as well as an island and pantry for storage. Large windows draw in abundance of natural light in formal living/di INCREDIBLE OPPORTUNITY to own a well-established and well-maintained Residential Care Facility for the Elderly (R.C.F.E.) business in Mission Viejo. Situated in a quiet and charming community, this 6 bedroom (5 resident along with 1 staff room) and 2 bathroom facility offers an open floor plan with a very generous dining/living room that connects to the oversized kitchen. Lots of counter space as well as an island and pantry for storage. Large windows draw in abundance of natural light in formal living/dining rooms. Private backyard with lots of seating and beautiful landscaping. Driveway and 2-car garage provides ample parking. Easy access to 5 and 405 freeways. The R.C.F.E. business owner is now on year 2 of the 5-year lease term. The 3rd year of the lease will begin on 9/1/2020 and at that time the monthly rent rate will increase by 2% (annual basis term of lease) which will increase it to $5,202. 6.3% cap rate which will increase every year. This is a "hands off" investment for the homeowner/landlord. The benefits of this niche investment are the following: long term leases, above market rents, zero to low maintenance costs, free yearly inspections and a hold harmless clause written into contract. This business owner is well-respected throughout the board-and-care industry and has many other properties and a waitlist due to such high demand to be a resident in one of her facilities. *Property is for sale with executed lease included. RCFE business not included with sale.

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    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
    www.dreamlivingsd.com/homes/106126544
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    24591 Saturna Drive Mission Viejo, CA 92691

    • Price: $850,000
    • Status: CONTINGENT
    • Updated: 48 min ago
    • ID#: 302532980
    6
    Beds
    0
    Baths
    0
    ½ Baths
    0.18
    Acres
    1969
    Built
    Neighborhood:
    Other (Othr)
    County:
    Orange
    Area:
    Oc - Mission Viejo (92691)
    Property Description
    INCREDIBLE OPPORTUNITY to own a well-established and well-maintained Residential Care Facility for the Elderly (R.C.F.E.) business in Mission Viejo. Situated in a quiet and charming community, this 6 bedroom (5 resident along with 1 staff room) and 2 bathroom facility offers an open floor plan with a very generous dining/living room that connects to the oversized kitchen. Lots of counter space as well as an island and pantry for storage. Large windows draw in abundance of natural light in formal living/di INCREDIBLE OPPORTUNITY to own a well-established and well-maintained Residential Care Facility for the Elderly (R.C.F.E.) business in Mission Viejo. Situated in a quiet and charming community, this 6 bedroom (5 resident along with 1 staff room) and 2 bathroom facility offers an open floor plan with a very generous dining/living room that connects to the oversized kitchen. Lots of counter space as well as an island and pantry for storage. Large windows draw in abundance of natural light in formal living/dining rooms. Private backyard with lots of seating and beautiful landscaping. Driveway and 2-car garage provides ample parking. Easy access to 5 and 405 freeways. The R.C.F.E. business owner is now on year 2 of the 5-year lease term. The 3rd year of the lease will begin on 9/1/2020 and at that time the monthly rent rate will increase by 2% (annual basis term of lease) which will increase it to $5,202. 6.3% cap rate which will increase every year. This is a "hands off" investment for the homeowner/landlord. The benefits of this niche investment are the following: long term leases, above market rents, zero to low maintenance costs, free yearly inspections and a hold harmless clause written into contract. This business owner is well-respected throughout the board-and-care industry and has many other properties and a waitlist due to such high demand to be a resident in one of her facilities. *Property is for sale with executed lease included. RCFE business not included with sale.
    Exterior Features

    Pool N/K Roof Composition Site Cul-De-SacCurbsSidewalks Spa N/K

    Interior Features

    Cooling Central Forced Air Stories 1 Story Total Baths Unit1 2 Units With Range Oven 1 Units With Refrigerators 1 Units With Washers 1

    Property Features

    Actual Cap Rate 6.31 Annual Expense Actual 8747 Buildings 1 Gross Scheduled Income Actual 62424 Home Owners Fees 0.0 Sewer Septic Sewer Connected Tenant Pays SewerWaterCable TvElectricityGardenerGas/PropaneOther/Remarks Terms Conventional Unit Number For Unit1 1 Unit1 Rent Actual 5202.0 Water Meter On Property

    Listing provided courtesy of First Team Estates. Listing information © 2020 San Diego MLS Inc. Source: CRMLS
    This information is deemed reliable but not guaranteed. You should rely on this information only to decide whether or not to further investigate a particular property. BEFORE MAKING ANY OTHER DECISION, YOU SHOULD PERSONALLY INVESTIGATE THE FACTS (e.g. square footage and lot size) with the assistance of an appropriate professional. You may use this information only to identify properties you may be interested in investigating further. All uses except for personal, non-commercial use in accordance with the foregoing purpose are prohibited. Redistribution or copying of this information, any photographs or video tours is strictly prohibited. This information is derived from the Internet Data Exchange (IDX) service provided by San Diego MLS. Displayed property listings may be held by a brokerage firm other than the broker and/or agent responsible for this display. The information and any photographs and video tours and the compilation from which they are derived is protected by copyright. Compilation © 2020 San Diego MLS, Inc. Licensed in the state of California.
     
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