Good Afternoon. I would like suggestions from experienced house rehabbers that may have fixed up an ACLF (Adult Care Living Facility). I have a house/building that is located in a residential neighborhood. It is 4400 square feet on two acres and very peaceful. It has been vacant for a few years and was most recently a shelter for troubled teens. It is zoned for 10 beds, has an office and the place is up to code including the commercial kitchen that is there. It is in need of a lot of repairs due to several roof leaks and sitting vacant in the hot and humid Florida sun. I have been trying to decide if I should gut the place and do a full rehab to return it to a residential home or turn it into a ACLF and only spend half as much on the rehab since I would just repair what needs to be repaired as opposed to moving walls, ripping out ceilings and kitchen....etc. I cant find any comps for an ACLF so setting my ARV is difficult on this one. Is it because that these ACLF homes are in high demand so they don't come up for sale often? Anyways, would like some opinions on the best way to approach this. Thanks everyone
You might also consider a facility for people that have recently left drug/alcohol rehab programs and are looking for a group sober living facility as an interim step in their recovery. I have some friends in FL that have done really really well with those.
John D., Palm Vacation Rentals | [email protected] | 4155195039
Thanks John, I will actually be looking to just sell the place as at this point, I am just a rehabber, but if your friends would be interested in this place, then I would be glad to talk with them before I start swinging the hammer :)
You might call some companies that do elder care in those smaller home settings- perhaps they're looking for places like this. I know that the smaller group home is becoming a much more common type of facility, especially for memory care/dementia residents. I believe most of the companies doing it are smaller regional players, not the big "retirement community" developers.
From personal experience, I think the smaller care facility is usually a much better choice for the residents.
You may be on to a good thing here! The company I dealt with was buying big SFRs and undergoing some serious costs to refurbish them to meet their needs. Sounds like you're already part way there with this house, and if you find someone who's interested you could finish it with their needs in mind.
Jean Bolger, 33 Zen Lane | http://www.solidrealestateadvice.com
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