The Gem
A 36-Unit Standalone Memory Care Community Located in BOISE, ID
Asset Overview
Deal Points
- Asset Alias: The Gem
- Care Type: Memory Care
- Year Built: 2002 | 2017 Reno.
- Total Units: 36
- Buildings Size: 21,460 SF
- Lot Size: 1.37 Acres
- Current Occupancy: 91%
- T6A Revenue: $3.04M
The Opportunity
The Zett Group, as exclusive listing broker, is pleased to present The Gem, a 36-Unit Memory Care community located in the Boise, ID MSA.
Originally built in 2002 and beautifully renovated in 2017, the 21,460 square-foot memory care community is in excellent condition with modern interior finishes, large community spaces, and serene outdoor walking spaces. Residents enjoy updated private suites with their own private full bathroom.
The Gem is currently showing strong occupancy and upward trending performance throughout the past year. Occupancy has grown from 67% in Q4 '23 to 92% in the Q4' 24 while total revenue has grown from $536k in Q4 '23 to $740k in Q4 '24.
The Gem is located in a very attractive, quickly growing market in the State of Idaho. Within a 10-Mile radius of the community, current 75+ population is 24,030 and is anticipated to grow 22.8% over the next 5 years. Additionally, median income among the 65+ population is $64,891, signaling a financially healthy senior population.
With the attractive physical plant, strong performance trends, and being located in one of the fastest-growing markets in the nation, The Gem is the perfect opportunity for investors and operators looking to build value though improving operations, and achieving substantial upside at time of exit.
