In re Culver Village, LLC (Bankr. C.D. Cal.) Case no. 11-46359
Culver Village, LLC recently filed for Chapter 11 bankruptcy and, although no sale has been announced, the Debtor’s assets may be available for acquisition under the right circumstances. The Debtor’s real property is an assisted living facility located at 10955 West Washington Boulevard in Culver City, California, valued by the Debtor at $5.5 million with a secured claim of $5.5 million. The property is described as a 39,978 square foot, 90 unit, three story building, situated on a .6 acre parcel. The Debtor’s personal property includes accounts receivable booked at $6,970; a city business license and community care license with no value; a 2001 Ford E350 van valued by the Debtor at $1,250; office equipment, furnishings and supplies valued by the Debtor at $750; and machinery, fixtures and supplies valued by the Debtor at $800. The Debtor indicates income for 2009 at $1,634,577; for 2010 at $1,505,479; and year-to-date 2011 at $880,938.