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Pot'l Permanent/Assisted Living/Convalescent 23090 Sunnymead Blvd 62 Unit Apartment Building $10,850,000 ($175,000/Unit) 6.75% Cap Rate Moreno Valley, CA 92553
Investment Highlights
- 10-Year Ownership - Potential Tax Credits!
- Well Maintained and Well Located Building Built in 2009 with Freeway Signage for New Business!
- Seller is Familiar with the Conversion Process
- Proper Zoning for Conversion to Permanent Housing/Assisted Living or Convalescent Care!
- Walking Distance to Significant Retail and Services
- 6.75 Potential Cap Rate on Market Rents!
Executive Summary
POTENTIAL TAX CREDITS - OWNED FOR MORE THAN 10 YEARS BY SELLER
Currently an operating La Quinta Inn, the property is a Potential Conversion of the Existing Hotel to Permanent Living/Assisted Living/Convalescent Care as per the Current Zoning.
Built in 2009 and situated on approximately 1.36 acres of land, the Property comprises 62 rooms and is three stories in height, with approximately 29,669 square feet of floor space, with a concrete parking surface.
ALL PROPERTY SHOWINGS ARE TO BE BY APPOINTMENT ONLY AND COORDINATED WITH THE LISTING AGENT.. THE MANAGEMENT IS NOT AWARE OF THE SALE AND IS NOT TO BE DISTURBED NOR ASKED FOR A TOUR OF THE PROPERTY INTERIOR
Currently an operating La Quinta Inn, the property is a Potential Conversion of the Existing Hotel to Permanent Living/Assisted Living/Convalescent Care as per the Current Zoning.
Built in 2009 and situated on approximately 1.36 acres of land, the Property comprises 62 rooms and is three stories in height, with approximately 29,669 square feet of floor space, with a concrete parking surface.
ALL PROPERTY SHOWINGS ARE TO BE BY APPOINTMENT ONLY AND COORDINATED WITH THE LISTING AGENT.. THE MANAGEMENT IS NOT AWARE OF THE SALE AND IS NOT TO BE DISTURBED NOR ASKED FOR A TOUR OF THE PROPERTY INTERIOR
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Cable Ready
- Microwave
- Refrigerator
- Carpet
Site Amenities
- Private Bathroom
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 62 | - | - |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Good public transit
60/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 292-250-024 | Improvements Assessment | $3,348,756 |
| Land Assessment | $1,304,122 | Total Assessment | $4,652,878 |
Property Taxes
Parcel Number
292-250-024
Land Assessment
$1,304,122
Improvements Assessment
$3,348,756
Total Assessment
$4,652,878
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Videos
Matterport 3D Exterior
Matterport 3D Tour
Photos
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Map
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Contact the Sale Advisor
Pot'l Permanent/Assisted Living/Convalescent | 23090 Sunnymead Blvd