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Description
A 2 to 2.5-story wood frame, vinyl sided (former hospital), with a combination membrane and asphalt shingle roof, elevator access, full granite/brick wall foundation & concrete slab basement, built circa 1900, renovated over time. The property is a MASH certified as a 50-bed sober house under the 12-Step Education Program of NE. This investment offers tremendous upside, when stabilized at an 85% occupancy. Rents were increased as of Oct 2025 to $310/week for singles, $235/week for shared rooms, $1,250/month for singles & $1,000 for shared rooms (all include food). to date, the mix has historically been 10% monthly fees & 90% weekly fees. A stabilized proforma at a 15% vacancy, may produce a potential NOI of $65,,567 that includes a NNN lease payment to the real estate ownership of $235,000 annually.
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