Description

Located in Snohomish County, WA, this is a gorgeous adult family home for 6 privately paying senior residents. The business is valued at $150,000 and the property at $950,000. The business and property are sold as a package with an asking price of $1,100,000. This adult family home is currently 100% occupied with 6 residents each paying anywhere between $7,875 and $8,500 per month. There is 1 full-time manager, 4 full-time caregivers, and 7 part-time caregivers. All Certified Nursing Assistants (CNAs) are certified in the specialty care of mental health and dementia. The owner currently works 10-15 hours a week, and the owner’s spouse works 1-2 hours a week. Due to health issues, the current owners are looking to move on. Per Washington Administrative Code (WAC) 388-76-10010-(3)(a), all adult family home licenses are issued to the licensee (operator) and are not transferrable. In other words, the buyer will need to obtain his or her own adult family home license. The ideal buyer is someone who has the background, education, and certifications needed to obtain an adult family home license. More information on the licensing requirements can be found on the DSHS web site. The property is beautifully constructed in an idyllic location. The building exterior and interior are meticulously maintained and in excellent condition. The building is approximately 4,000 square feet situated on 2+ acres. The adult family home market is an industry with a rapidly growing demand. In the Puget Sound region, the number of people turning age 65 each year was an estimated 36,000 people in 2015. The pace accelerates to over 40,000 people each year in 2018, and over 44,000 people each year in 2020. According to the Washington DSHS, an adult family home is defined as a residential home licensed to care for up to six non-related residents. As the Baby Boomers age, more and more of them will seek out adult family homes, which are more intimate and inviting in nature, as opposed to larger, institutionalized facilities. Operating an adult family home provides a stable source of income, and the property value will likely appreciate in the long term. This is a wonderful opportunity for a buyer interested in stable income coupled with long-term property appreciation.

Posted Feb 8, 2016

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