Available For Sale - Land

853,776 SF | Show Pricing $

LISTED BY

Dean Kinan
NAI Capital, 818-276-5678

AVAILABILITY DETAILS

Size
853,776 SF
Price/SF
Show Pricing $
Listing ID
SA527300
Notes
Melrose West Senior Living Community (the “Project”) is a 19.6 Acre Assisted living, Memory Care, and Independent Living Community located in Simi Valley, California, a thriving community in the southeast portion of Ventura County. Located at the foot of Rocky Peak, minutes from the bustling 118 Freeway and just blocks from the major trade area, Melrose West fills a critical demand for Senior Housing in an area that is severely underserved. The Project is approved for a total of 108 units, 68 of which are slated for Assisted Living, and 40 for Memory Care. With the Baby Boomers aging, senior housing has become one of the most popular and deserved housing options in the market today for our lovely seniors. The Assisted Living/ Memory Care space- which primarily serves seniors who need help with their activities of daily living (“ADL”)- generally draws from a local market within 1-5 miles away from the facility itself. At the Melrose West, the demographics are extremely promising in that they evidence a theoretical demand which more than DOUBLES the existing supply in the area. Preliminary surveys indicate that the immediate market for ALF/ALZ beds number roughly 500 (which should continue to increase with the City’s aging population) with only 275 beds being available for lease. Municiple officials believe that the local Simi Valley area will require 800 or more beds to satisfy the publics need for Assisted Living/ Senior Services, 6 times the amount being offered by Melrose West. The land zoning allows this use, with a Conditional Use Permit (“CUP”), for which application to the City of Simi Valley was approved.
Uses
Land

Other Availability in this Property

Space/Suite Square Feet Type Uses Asking Rent/Price
853,776 SF Sale Land Show Pricing $ chevron_right
Space/Suite
 
Square Feet
853,776 for sale
Uses
Land
Asking Rent/Price
Show Pricing $

This information has been obtained from sources believed reliable. We have not verified it and make no guarantee, warranty or representation about it. Any projections, opinions, assumptions or estimates used are for example only and do not represent the current or future performance of the property. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for you needs.

Listing provided courtesy of
Dean Kinan, NAI Capital
BRE# 02051348