TUCSON, AZ (March 6, 2025) -- Mark Biery, JD, CCIM, with Berkshire Hathaway, has successfully closed the sale of an assisted-living home and its operating business located at 8850 E. Calle Bolivar on the east side of Tucson.
The asset closed on February 20, 2025.
Originally built in 1967 as a single-family residence, the property was licensed for ten beds and operated for many years under the name Klein's Home Care. The sellers, looking to retire and downsize, decided to put the business on the market.
"The biggest challenge during this listing and sale was the business’s accounting records. While the sellers provided excellent care and ran a well-regarded home, the accounting system was outdated and difficult to interpret. Additionally, because their financials were combined with those from a second care home, banks were hesitant to offer financing. It was hard to assess the business’s financial performance, which led the buyers to pay cash for the operation. As a result, we sold the business for just $1,000, despite it generating around $20,000 annually."
The buyers, a local husband-and-wife team already owning three other care facilities in Southern Arizona, plan to continue operating the property as an assisted-living home.
For more information, Mark Biery can be contacted at MarkBieryTucson@Gmail.com or (520) 235-2531.
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