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418 N Rusk St
Wharton, TX 77488
OWNER FINANCING AVAILABLE · Health Care Property For Sale
·
100 Beds
PROPERTY FACTS
| Property Type | Health Care | No. Beds | 100 |
| Property Subtype | No. Stories | 1 | |
| Lot Size | 2.14 AC | Year Built | 1938 |
| Building Size | 32,863 SF | Parking Ratio | 3/1,000 SF |
| Zoning | none | ||
| Property Type | Health Care |
| Property Subtype | |
| Lot Size | 2.14 AC |
| Building Size | 32,863 SF |
| No. Beds | 100 |
| No. Stories | 1 |
| Year Built | 1938 |
| Parking Ratio | 3/1,000 SF |
| Zoning | none |
ABOUT 418 N RUSK ST , WHARTON, TX 77488
418 N Rusk is an 80-room assisted living facility in Wharton, TX. The subject property is currently vacant and will need an extensive rehab to be brought up to industry standards. The location is at one of the highest points in Wharton, TX and has never flooded. Located in a very nice neighborhood which would be a great location for an assisted living facility serving the Houston Metro area. About 1 hour from Downtown Houston and 35 minutes from Sugarland. Assisted living facilities in Texas have an average rental cost of $3,500. The following information takes an assumption of $2,500 in rents. Based on the values on our Proforma Financial Statement this property can generate $690,123 in annual net income. Assuming a 7% cap rate this property would have a valuation of $7.5 million. ( Data available on request) This property will need a full rehab to be brought up to industry standards and regulations. Based on a construction cost of $38.80 per sqft we estimate that the rehab will cost $1.275 million. Additional pictures and info attached to link. https://drive.google.com/open?id=1-e-quktLsXhvPPkTaU2U8YiWTBeY7O2Y
PROPERTY TAXES
| Parcel Number | R026376 | Improvements Assessment | $190,430 |
| Land Assessment | $93,070 | Total Assessment | $283,500 |
PROPERTY TAXES
