3749 W Quaker Ridge Dr, Meridian, ID 83646

Available Now For Sale

Offered at $330,000

3749 W Quaker Ridge Dr, Meridian, ID 83646

Welcome to 3749 W Quaker Ridge, Meridian, 83646. This house known as the Quaker Ridge Residential Care Facility has been operated for over 10 years as a RALF (Residential Assisted Living Facility). Quaker Ridge can be licensed through the city as a medical living facility or be used as a non-medical but does have all the necessary components for medical licensing including industrial fire suppression system, commercial grade fire detection, walk in showers, and 1 of the rooms can have an office attached for live in management.

This 2630 square foot home is situated on a .22 acre lot in Meridian right off of Cherry Lane and 10 mile. It has 6 bedrooms and 2 baths. Two of the bedrooms are large enough to legally have 2 beds. There is a common area/ living room, dining area, and large kitchen. There is no garage space as it has been converted for living. The home and property have been completely renovated and is ready for new owners. Remodel includes appliances, new furnace, new AC, new water heater among many other updates. Here is a break down of potential Cap rates and costs. This information was all supplied by the seller/operator and is deemed to be accurate.

Medical

$2000/room Average ($1800 Medicaid/ $2400 private pay)

Actual Rent Income $144,000

Vacancy 3% = -$4320

                                                 GOI= $139,600

Annual Expenses

Electric $2100

Heat $1100

Hazard Insurance $1000

Management Fee's/Nurse staff $72,000

Water $1320

Annual repairs $3000

Food $7200

Property tax $2500                   Total Annual Expense= $90220

                                                 NOI= $49380

                                                 Cap= 15%

 

Non-Medical

$550/room + $900 for doubles

Annual Rent income $48000

Vacancy 3%= $1440                

                                                  GOI=$46560

Annual Expenses

Electric $2100

Heat $1100

Hazard Ins $1000

Management Fees $3840

Water $1320

Annual Repairs $3000

Property Tax $2500                            Total Annual Expense $14860

                                                          NOI $31700   Cap= 9%

 

 

This property could be converted back to single family residential very easily as garage door is still intact.

This Property is brought to you by 208 Real Estate, LLC

Please Contact for private showing or more info

 

PJ Johnson

208-860-3399

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Address

208 Real Estate

9840 W Overland Rd. Ste 120
Boise Idaho 83709

Contact Info

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Phone208-322-SOLD

Mobile208-322-7653