4 Nook Road

4 Nook Road is a two-family property in Plymouth, Massachusetts, on the South Shore roughly forty miles southeast of Boston. Plymouth is the seat of Plymouth County and one of the larger communities in southeastern Massachusetts, with the transportation access, employment base, healthcare and treatment providers, and established recovery community that a residence depends on. Demand for quality beds in this part of the state has been durable.

The building contains approximately 3,631 sq. ft. and is configured for 24 recovery housing beds, all in shared rooms. The two-family layout is the useful feature here: two separate units under one roof give an operator natural separation — whether that is used for gender-separate programming, for phased levels of care, or to house a live-in mentor with some independence from the main population. An all-shared configuration also keeps the revenue model simple and the per-bed rate accessible. Final bed count should be set by the operator against applicable certification standards and local occupancy limits.

This is a value-add opportunity rather than a turn-key one. A renovation budget of approximately $60,000 has been allocated to bring the property to a stabilized operating condition. An itemized scope is available to qualified parties on request, and renovation draw financing can be arranged against completed work, leaving headroom above the current budget for scope discovered after closing or for elective upgrades without additional buyer capital.

The capital structure is the distinguishing feature of this offering. Vanderburgh can arrange a first position mortgage at closing and finance a second position seller note behind it, so that a qualified buyer's cash to close is low relative to the purchase price. The first position financing carries its own qualification requirements, including verified liquidity and a minimum credit score of 680 for the best terms. Terms are negotiable — get in touch to talk through the structure that fits.

The recommended long-term plan is straightforward: close, complete the renovation program, stabilize occupancy, and then refinance the bridge and draw facility into permanent DSCR financing once the residence is operating. That refinance is the event that converts the value created through the renovation into realized equity, and the pro forma below is what supports it.

The opportunity suits an experienced recovery housing operator, a nonprofit housing provider, or a mission-oriented owner-operator comfortable managing a modest renovation. A passive investor would want to pair with a qualified operator. Projected owner and operator financials and an itemized renovation budget are available to qualified parties on request.