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- LoopNet Team
1528 Montecito Rd
Ramona, CA 92065
Shadow Glen Annex · Multifamily Property For Sale
·
20 Units
INVESTMENT HIGHLIGHTS
- Excellent rental market.
PROPERTY FACTS
| No. Units | 20 | Building Size | 16,576 SF |
| Property Type | Multifamily | Average Occupancy | 95% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Low-Rise | Year Built | 1979 |
| Building Class | C | Parking Ratio | 1.93/1,000 SF |
| Lot Size | 1.52 AC | ||
| Zoning | C | ||
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 1.52 AC |
| Building Size | 16,576 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built | 1979 |
| Parking Ratio | 1.93/1,000 SF |
| Zoning | C |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Tile Floors
- Refrigerator
- Oven
- Range
- Tub/Shower
- Carpet
- Patio
SITE AMENITIES
- Laundry Facilities
- Gated
- Maintenance on site
ABOUT 1528 MONTECITO RD , RAMONA, CA 92065
DRAMATIC REDUCTION! Property across the street is also available by same owners. Many investors would buy both buildings and use one manager for both assets. Landings and fascia have been upgraded. Installing new windows and upgrading kitchen or bath might boost rents $100/month (projected income reflects a 7% increase). Patio fences were replaced. Private balconies and private fenced yards are appreciated by tenants. Gated access for vehicles and people provide tenants extra peace of mind. The parking lot is in a flood zone, but the buildings are not. Terry Moore, real estate licensee, is part owner of this asset. Sellers have upgraded many units on turnover. Future repairs and maintenance costs may be less than history. Sewer, fire protection & other are collected via property tax billing. Lenders may require for first year reserves of 12 month principal and interest payment. (Buyer posts that extra money for first year and then gets remainder back after first year.) Inspection will be coordinated upon accepted offer only. No previews. Please do not disturb tenants. Tenants are unaware of the sale of this property. The information contained herein has been obtained from sources believed reliable. ACI does not doubt the accuracy, but we have not verified it and make no guarantee, warranty or representations.
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 6 | - | - |
| 2+2 | 14 | - | - |
PROPERTY TAXES
| Parcel Number | 281-172-11 | Improvements Assessment | $1,769,776 |
| Land Assessment | $2,164,864 | Total Assessment | $3,934,640 |
PROPERTY TAXES
