Carmel Convalescent Hospital Property: SOLD to Dylan Investment Properties

ABSTRACT:  The historic Carmel Convalescent Hospital property at 24945 Valley Way, offered at $3,950,000, sold to Dylan Investment Properties for $3.7 million, according to reporting in The Monterey County Herald.  "Originally built as a metabolic clinic this beautiful Mediterranean offers a multitude of possibilities for the imaginative entrepreneur.  Unique to Carmel, the 22,000 square foot terraced two story concrete and wood framed Spanish Eclectic style hospital building, a 4,000 square foot former nurses quarters, and a 2,000 square foot residence with garages are all situated on 3.68 tree-studded acres adjacent to Highway 1.  Once permitted as a medical/health care facility and with abundant water credits available, this property is perfect for a multitude of users; perhaps a medical clinic, a health club, a care facility, or even the retreat for a large family.  This beautifully situated property and dramatic historic structures offer...potential galore in Carmel," according to Tim Allen, TIM ALLEN PROPERTIES information sheet on the property.  

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By PHILLIP MOLNAR Herald Staff Writer, 03/27/2014

HIGHLIGHT EXCERPTS:
A historic Monterey Peninsula hospital once pegged for a controversial condominium project may now become an assisted living facility.
The former Carmel Convalescent Hospital was sold Tuesday to Los Angeles-based Dylan Investment Properties for $3.7 million, according to county real estate records.
The limited liability company has been incorporated in Delaware since 1999. Its last major purchase was St. George Medical Center in suburban Sacramento in May 2013, said the Sacramento Business Journal.