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Jason Coriano

Principal Broker

  • Office 619-431-4404
  • Cell 619.665.5360
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1551 Montecito Rd., Ramona, CA – $9,525,000

  • $9.5M Price
  • 5.28 Acres
  • 21 DOM
  • $9.5M Price
  • 5.28 Acres
  • 21 DOM

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1551 Montecito Rd.

The property across the street is also available for sale by the same owners. This asset has 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, fireplaces and interior panel doors in 38 original units. 38 original units have central heat and air. Gated entry for people and vehicles gives residents peace of mind. Tenants enjoy a sparkling swimming pool and carport parking.The parcel has extra land between the apartments and Santa Maria Creek. The Ramona Community Plan seems to allow part of the parcel to be used for single family homes. The Buyer may want to investigate the possibilities of adding more buildings. Terry Moore, real estate licensee, is a part owner of this asset. Sellers upgraded many units on turnover.Sewer, fire protection & other are collected via property tax billing.


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Essential Information

  • MLS® #200007182
  • Price$9,525,000
  • Acres5.28
  • TypeCommercial
  • Sub-TypeCom-Res Income
  • StatusACTIVE

Community Information

  • Address1551 Montecito Rd.
  • AreaRAMONA (92065)
  • CityRamona
  • CountySan Diego
  • StateCA
  • Zip Code92065

Amenities

  • AmenitiesHeated Pool
  • Parking Spaces60
  • ParkingCarports, Spaces

Interior

  • HeatingCentral Forced Air Elec
  • CoolingCentral Forced Air Elec
  • # of Stories2

Exterior

  • ExteriorMetal Fence
  • RoofComposition
  • ConstructionFrame, Stucco

Additional Information

  • Date ListedFebruary 12th, 2020
  • Days on Market21

Listing Details

  • OfficeApartment Consultants, Inc.
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Price Change History for 1551 Montecito Rd., Ramona, CA (MLS® #200007182)

Date Details Price Change
Price Reduced (from $9,650,000) $9,525,000 $125,000 (1.30%)