24591 Saturna Dr, Mission Viejo, CA 92691

INCREDIBLE OPPORTUNITY to own a well-established and well-maintained Residential Care Facility for the Elderly (R.C.F.E.) business in Mission Viejo. Situated in a quiet and charming community, this 6 bedroom (5 resident along with 1 staff room) and 2 bathroom facility offers an open floor plan with a very generous dining/living room that connects to the oversized kitchen. Lots of counter space as well as an island and pantry for storage. Large windows draw in abundance of natural light in formal living/dining rooms. Private backyard with lots of seating and beautiful landscaping. Driveway and 2-car garage provides ample parking. Easy access to 5 and 405 freeways. The R.C.F.E. business owner is now on year 2 of the 5-year lease term. The 3rd year of the lease will begin on 9/1/2020 and at that time the monthly rent rate will increase by 2% (annual basis term of lease) which will increase it to $5,202. 6.3% cap rate which will increase every year. This is a "hands off" investment for the homeowner/landlord. The benefits of this niche investment are the following: long term leases, above market rents, zero to low maintenance costs, free yearly inspections and a hold harmless clause written into contract. This business owner is well-respected throughout the board-and-care industry and has many other properties and a waitlist due to such high demand to be a resident in one of her facilities. *Property is for sale with executed lease included. RCFE business not included with sale.