This home is located in a gem of a neighborhood! Close to parks, various restaurants, doctors, hospitals, airports, and of course the beaches! The neighborhood is located in an equestrian area and you'll often see horses walking down the road with riders. Enjoy the covered screened in swimming pool in your own back yard! This property was formerly licensed, approved and operated as a 6 bed assisted living facility (ALF). The most recent tax return shows an adjusted net income as follows: Net income at $104,265, plus officer compensation of $17,775, depreciation of $2,167 and auto expense of $16,328, giving an adjusted net of $140,535. Using these numbers , the adjusted cap rate is 21.62%. The property is vacant of tenants at this time. This is a 4 bedroom, 2 bath home with a large office and storage shed. It meets all requirements of an ALF and is ADA complaint.
Listing courtesy of CENTURY 21 COASTAL ALLIANCE.