River Commons, a 103-unit Independent Living community located in Redding, CA, just two hours north of Sacramento. With approximately 150,000 residents in the Redding area, neighboring homes are valued at $395,000+. River Commons was built in 1986 and is in excellent condition, with renovations as recently as 2019. It has the layout and feel of a much newer community with large apartments and abundant common area space. Current occupancy is 69%, with all area competitors at 88% - 100%. T3 annualized EBITDAR is $408,000, while the property produced ~ $1,300,000 EBITDAR in 2019 at 96% occupancy. The property has room for expansion and given its exclusive focus on IL residents, an assisted living and/or memory care addition could be an excellent upside opportunity. Of note, the property has assumable debt of ~ $12,700,000 at 4.1%, with full details available in the data room.