TUCSON, ARIZONA -- A California buyer purchased a licensed 16-bed assisted living facility at 250 S Vozack Lane in Tucson for $600,000 ($37,500 per bed).
The sellers, Stanley and Sharyl Young, had run the successful facility for 24 years prior to selling.
Licensed for 16 residents, the property had been vacant for several weeks prior to the sale, following the closure of the previous business. The buyer will be required to acquire a new license with the Arizona Department of Health.
Mark Biery, a Senior Housing Specialist with Berkshire Hathaway Premier Properties handled the transaction.
“Unique to this property was the fact that it had an approved development plan for an expansion of 16 additional beds. That would bring it to a total of 32 beds, which is an unusual size for a care home on the east side of Tucson,” Biery said. “The California buyer found this potential for expansion attractive.”
For additional information, Biery should be reached at (520) 235-2531.
To learn more, see RED Comp #6665.