1551 Montecito Rd.

    Ramona, CA 92065
    • $8,995,000
    • STATUS: Active
    • ON SITE: 108 days
    • ID#: 200007182
    $8,995,000
    • 0
      BEDS
    • 5.28
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    County:

    School Ratings & Info

    Description

    DRAMATIC PRICE REDUCTION! The property across the street is also available for sale by the same owners. There are 38 legal units; former office space was converted into two non-permitted 2 Bed/1 bath units. Next owner might not have a separate rental office. This asset also has washer/ dryer hookups, individual water heaters, central heat and air, fireplaces and interior panel doors in the 38 original units. Gated entry for people and vehicles gives residents peace of mind. Tenants enjoy a sparkling pool and carport parking. Enclosing carports or adding vinyl windows, or upgrading kitchens or baths could boost income. The parcel goes back to Santa Maria Creek. The general plan shows three zones for this lot, one of which is for single family homes. Buyer may want to investigate the possibilities of adding more buildings. Terry Moore, real estate licensee, is a part owner of this asset. Sellers have upgraded many units on turnover. Cooling: Central Forced Air Elec

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-31T00:24:27.903. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

    www.sdluxe.com/homes/103196407

    1551 Montecito Rd. Ramona, CA 92065

    • Price: $8,995,000
    • Status: Active
    • ID#: 200007182
    0
    Beds
    0
    Baths
    0
    ½ Baths
    5.28
    Acres
    County:
    San Diego
    Property Description
    DRAMATIC PRICE REDUCTION! The property across the street is also available for sale by the same owners. There are 38 legal units; former office space was converted into two non-permitted 2 Bed/1 bath units. Next owner might not have a separate rental office. This asset also has washer/ dryer hookups, individual water heaters, central heat and air, fireplaces and interior panel doors in the 38 original units. Gated entry for people and vehicles gives residents peace of mind. Tenants enjoy a sparkling pool and carport parking. Enclosing carports or adding vinyl windows, or upgrading kitchens or baths could boost income. The parcel goes back to Santa Maria Creek. The general plan shows three zones for this lot, one of which is for single family homes. Buyer may want to investigate the possibilities of adding more buildings. Terry Moore, real estate licensee, is a part owner of this asset. Sellers have upgraded many units on turnover. Cooling: Central Forced Air Elec
    Exterior Features

    Carport Spaces 38.00 Construction Materials FrameStucco Lot Size Units Square Feet Parking Total 38.00 Roof Composition

    Interior Features

    Heating Forced Air Heating YN Yes

    Property Features

    Cap Rate 4.90 Country Us Gross Scheduled Income 802812.00 Insurance Expense 14630.00 Maintenance Expense 40297.00 Net Operating Income 444525.00 Operating Expense 318147.00 Other Expense 18830.00 Other Income1 2292.00 Property Sub Type Commercial/Residential Resident Manager Expense 9369.00 Total Expenses 318147.00 Total Monthly Rent 64609 Trash Expense 5678.00 Water Sewer Expense 51678.00

    Listing provided courtesy of Terry Moore of Apartment Consultants, Inc.


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-31T00:24:27.903. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Crudo & Associates | Willis Allen Real EstateLa Jolla. Licensed in the State of California, USA.

     
    Crudo & Associates | Willis Allen Real EstateLa Jolla
    1131 Wall St.
    La Jolla CA, 92037