Asking Price
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Building Area
Land Area ()
Number of units 104

Property Description

The Murrieta Seniors Development Site is located at the southeast corner of Washington Avenue and Nutmeg Street in Murrieta, California. The community has been designed as a 104-unit Assisted Living complex, which in California has the designation of Residential Care Facility for the Elderly (RCFE). There are 24 units specifically dedicated to people with memory impairments. The community has been aesthetically designed with many unique spaces in a home-like environment, carefully considering the needs and concerns of residents who need assistance with Activities of Daily Living (ADLs).


The property will feature several dining venues, activity spaces, outdoor amenities, and of course, unparalleled new technology which will facilitate proper care and services for all residents, allowing employees maximum time to engage with residents daily.

Investment Highlights

  • Fully Entitled – The site is fully entitled for seniors housing, and building plans are partially completed. This will shorten the development period significantly compared to competitive sites.
  • Excellent Location – The site is in close proximity to Interstate-15, Interstate-215, and State Route 74 which provides access to Los Angeles, Orange County, San Diego, and Riverside. The site is ideally located between residential and commercial spaces fronting Washington Avenue in Murrieta. The intersection of Washington Avenue and Nutmeg Street is well known, with a retail center anchored by a grocery tenant, several restaurants, Starbucks, offices, a bank, and a gas station. A local high school is just down the street, making this a well-traveled corridor with high visibility for the project. The site also has access to eight major hospitals within a 10-mile radius.
  • Access to Healthcare – The city of Murrieta offers two full-service hospitals (Loma Linda University Medical Center Murrieta and Rancho Springs Medical Center), as well as numerous local healthcare providers such as Inland Valley Medical Center, Kaiser Permanente Medical Center, and Southwest Healthcare System. Another nearby hospital, Temecula Valley Hospital, is approximately 2.5 miles from the site.
  • Strong Demographics – Murrieta is forecast to have above average growth, and has housing values and income levels which are considerably higher than the corresponding national averages.
  • Expansion Option – Buyers may seek approvals to construct additional units on the eastern section of the site.
Last Updated Date: 22 Jul 2021
Charles Bissell
Charles Bissell
Managing Director, Capital Markets
Greg Brown
Greg Brown
Senior Managing Director, Orange County Office Co-Head
License details
CA-01335204

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Last Updated Date: 22 Jul 2021

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