This large house is rented to IHS (Institute for Human Services) as a shelter for homeless people immediately after being discharged from hospitals. If they have to go back to homeless lifestyle, many will not recover and have to be admitted to the hospital again. The program is administered by IHS, but it is sponsored by hospitals. So, there is little risk of vacancy and collection loss. It saved millions on medical expenses during the first year alone. Practically a net lease as IHS manages their operations. Property tax is reduced to $300/yr since it is leased to an NPO. Cap rate of 4.52% with four years left in lease indexed to CPI. Immediate cash flow with $5,500/mo rent. 36 Photovoltaic panels. Tax records do not match actual square footage.
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