Oregon Independent Living
A Value-Add, 48-Unit Independent Living Community Located in North Oregon
Asset Overview
Deal Points
- Total Units: 48 Total | 45 Operational
- Asset Type: Independent Living
- Year Built | Renovated: 1971 | 2010
- Gross Building Area: 36,809 SF
- Lot Size: 3.06 Acres
- Deal Profile: Value-Add
- Occupancy (Operational Units): 98%
- T6A Revenue: $1.64M
- T6A NOI (w/ 5% Mgmt Fee): $412K
- List Price: $5.5M
The Zett Group is pleased to present a value-add 48-Unit Independent Living Community located in Northern Oregon, for a purchase price of $5.5M.
Originally built in 1971 and renovated in 2010 and well-maintained since, the 36,809 square-foot building offers residents an abundant amount of space both inside and out, with serene courtyards, well-lit common areas, a wellness room, theatre and private rooms. The physical plant has recently had around $500k in CapEx improvements including a new roof, improved HVAC, new kitchen and more.
This community has been maintained 90%+ occupancy the past 12 months and is currently at 95.5% occupancy. Two units are currently utilized as a manager’s room and one as a wellness room. If the managers rooms are converted to resident rooms, this could add $76k to top-line revenue. Current leadership operated at a 20.5% margin in the past 12 months, and a 25.1% margin in the T6A period. Because of expense reductions made at the community and modest rent increases in Q3 2025, future investors can anticipate an operating margin of 30% in 12 months, all while not reducing quality of living for residents or staff experience.
This community is well-positioned for future success as it’s located in a market with very little options for independent living. Located in a market with a population of 17,250, 19% of which are over 65 years of age, risk of occupancy loss is low as a population of 3,450 residents will have this Independent Living community as their most ideal option. Residents seeking independent living often times don’t want to live in larger senior housing communities with assisted living and memory care residents, so this standalone independent living community is a great solution for seniors looking to live in a community with meals, activities, and housekeeping. Oregon is also a top 6 state in the U.S. for 75+ population growth in the 2020’s, ensuring that there will be strong continued demand in the future.
This value-add opportunity is positioned for continued success and continuing the upward trend through the stabilized occupancy and the recent revenue and expense changes taking full effect.
