Residential Housing for people in recovery.

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Business Description

South Austin appreciating real estate spinning off $ 87,000 net with only 65% occupancy. Absentee owner. Four units with a total of 24 beds for people who have completed rehab and need a safe, stable environment to work their way back into a responsible lifestyle. House manager in place for 5 years. Asking price of $1,000,000 includes the 2 duplex real estate on the Travis County Tax Roles for just under $350,000 each. Single duplex in same subdivision just sold for over $400,000.

About the Business

Location:
Austin, Texas
Year Established:
2008
Number of Employees:
1
Real Estate:
Owned
Building Sq. Ft.:
4,132
Facilities:
Two town homes with two separate living spaces. The units accommodate up to 24 residents. Each town home is valued on the Austin - Travis Central Appraisal District at approximately $347,000. An adjacent unit recently sold for over $430,000.
Market Outlook/
Competition:
The market needs more facilities which will help people return to a life style free of drugs and alcohol.
Growth & Expansion:
Marketing for new residents has not been done for this facility with any regularity. With new ownership initiative the occupancy should increase and may lead to the need for additional facilities.
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About the Sale

Reason For Selling:
Owner has moved to Florida for personal reasons.
Training/Support:
A house manager is on site and operates the business for the absentee owner.
Seller Financing:
Negotiable

Listing Info

ID:
1561084
Ad Detail Views:
101
Asking Price:
$1,000,000

Gross Revenue:
$135,000
Cash Flow:
$87,000
(Seller's Discretionary Earnings)

EBITDA:
 Not Disclosed
Inventory:
$500
included in asking price

FF&E:
$50,000
included in asking price

Real Estate:
$850,000
included in asking price

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Business Listed by

Clarence Griggs

Griggs Business Brokers

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U.S. Census Data for Hays, Travis and Williamson Counties, TX
Age

Gender

Ethnicity

Source: Decennial Census (2010), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.

U.S. Community Survey Data for Hays, Travis and Williamson Counties, TX
Income

Education

Source: American Community Survey (2010-2014), United States Census Bureau.

This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.


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