1528 Montecito Rd.

    Ramona, CA 92065
    • $3,895,000
    • STATUS: Active
    • ON SITE: 102 days
    • ID#: 200007234
    UPDATED: 62 min ago
    $3,895,000
    • 0
      BEDS
    • 1.52
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Type:
    Commercial
    County:

    School Ratings & Info

    Description

    DRAMATIC PRICE 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. 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.)

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-25T11:24:33.597. 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 Better Living SoCal. Licensed in the State of California, USA.

    www.betterlivingsocalhomes.com/homes/103192855

    1528 Montecito Rd. Ramona, CA 92065

    • Price: $3,895,000
    • Status: Active
    • Updated: 62 min ago
    • ID#: 200007234
    0
    Beds
    0
    Baths
    0
    ½ Baths
    1.52
    Acres
    County:
    San Diego
    Property Description
    DRAMATIC PRICE 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. 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.)
    Exterior Features

    Construction Materials FrameStucco Lot Size Units Square Feet Roof Composition

    Interior Features

    Cooling Wall/Window Unit(S) Cooling YN Yes Heating Wall Furnace Heating YN Yes

    Property Features

    Cap Rate 4.30 Country Us Gross Scheduled Income 353724.00 Insurance Expense 4657.00 Maintenance Expense 33031.00 Net Operating Income 166530.00 Operating Expense 169508.00 Other Expense 11726.00 Other Income1 2062.00 Property Sub Type Commercial/Residential Resident Manager Expense 32000.00 Total Expenses 169508.00 Total Monthly Rent 27415 Trash Expense 3654.00 Water Sewer Expense 27793.00

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


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-05-25T11:24:33.597. 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 Better Living SoCal. Licensed in the State of California, USA.

     
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