Fully Leased - NNN Investment, Long Term 5 Year Lease with 2% annual escalations. NOI is $220,320. Fully functional licensed Behavioral Health (drug/alcohol) recovery home. 2 -SFR's on 1 large corner lot. Each home is 3,000 s.f. with a 2 Car Garage. The property was built in 2017 with this purpose in mind. Each home has 4 bedrooms and 3 bathrooms, two stories, large living area and kitchen downstairs with one bedroom. There is a common area patio between the two homes for outside enjoyment, smoking area, etc.
The property is licensed through the State of California Department of Human Services for this purpose. Each house is licensed.
The property is free and clear. great cap rate of 5.25% with 4 years remaining on a 5 year lease.
The tenant is a very strong Behavioral Health organization with various other facilities in the Behavioral Health field. They signed this strong 5 year NNN lease with no landlord responsibilities. Feel free to call us for further information. Seller is looking to make a sale and is motivated.