The Fountains at Lake Pleasant

The Fountains at Lake Pleasant
Independent Living Community

Property Tours are available by request through JLL
on November 6th and 13th 

Investment Highlights:

• 86-unit independent living community with value enhancement opportunities; opportunity to increase occupancy from 75.6% to market occupancy of 90%
• Ability to push value through the implementation of operating efficiencies reducing expenses and driving revenue
• Recent capital infusion of ± $1.6 million renovating 98% of the units and clubhouse
• Established community offering investors the ability to purchase a value-add property with opportunistic returns

The Fountains at Lake Pleasant presents an excellent opportunity to acquire a recently renovated asset with an extraordinary amenity base and well-polished unit finish outs. In the past two years, roughly $1.6 million in capital has been spent renovating 98% of the units and clubhouse. The Property’s renovated units feature unique layouts equipped with upgraded appliances, refinished cabinets, new carpet, and vinyl wood flooring, and updated plumbing and lighting fixtures.

Situated in the Parkridge neighborhood less than three miles east of State Highway 101, the Property provides residents with direct access to Downtown Phoenix and an abundance of nearby amenities. The large population of seniors surrounding The Fountains at Lake Pleasant continues to support the growing demand for seniors’ communities in the area.

There are more than 90,000 people aged 55+ within a 5-mile radius of the Property, which equates to approximately 45% of the total population. Additionally, the average income of the population within a one-mile radius is more than $75,000 annually, nearly 25% higher than the average annual income in the United States. This ballooning demographic and above-average purchasing power provide for an ideal setting for a successful senior living community.