General Real Estate Investing
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by

Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by

1031 Exchanges
presented by

Real Estate Classifieds
Reviews & Feedback
Updated about 4 years ago on .

Nursing home building - Do I have a play?
I have an opportunity to buy a 6/2 with office space in the house. It is almost 3k sq feet and was previously a nursing home. The house is in Jacksonville, fl.
The numbers are not great as a single-family home.
150k ask needs reno and ARV 215k
The rent is 1400 as a single-family.
There would be no way to flip it. The space feels institutional.
I am not interested in getting into the healthcare business, I would want to find a non-profit or city department that wanted it.
The other option is to make it a boarding house, except I would need to find someone to run the show. The rent would be in the 400 a month range and I am not interested in dealing with that.
Open to ideas?