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Sold on 11/30/2020

1551 Montecito Rd, Ramona, CA 92065

$11,901,930

Last sold 11/30/2020 for $8.27M

  • 22

    bed

  • 13

    bath

  • 36,248

    Sqft ($228/Sqft)

Multi-family not for sale
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About 1551 Montecito Rd

Property type Multi-family
HOA fee $0/month
Lot size 5.28 Acre
Movoto estimate
Property description
DRAMATIC PRICE REDUCTION! Sellers will guarantee 93% of collections for six months. 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.
Listed by
Listing Agent - Terry Moore
Listing Agent Contact: 619-299-3000
Listing Office - Apartment Consultants Incorporated
Source: San Diego MLS mls logo
MLS#200007182 • last updated 5 years ago
Movoto checked San Diego MLS for data 23 minutes ago
Overview
Cooling/AC Central Forced Air Elec
Heating Central Forced Air Elec
Levels/Style 2
Virtual Tour N/A
MLS # 200007182
Type Residential Income
Status SOLD
SubType Com-Res Income
Living Area 36248
Lot Size (Acres) 5.28
Interior
Total # of Bathrooms 13
Total # of Bedrooms 22
Laundry Leased
Flooring Tile, Wall To Wall Carpet
Exterior
Roof Composition
Parking Carports, Spaces
# of Parking Spaces 60
Location
Community Features Heated Pool
Multifamily Details
Total # of Buildings 1
Total # of Units 38
Financial Data Source Owner
$11.9M
Range: $10.7M-$13M
Last 30 days 
  • Dec 2020
    mls logo MLS # 200007182
  • Dec 1, 2020 Sold
    $8,270,000 (-0.9%)
  • Dec 1, 2020 Price Change
    $8,349,000 (+1.0%)
  • Jul 17, 2020 Price Change
    $8,599,000 (-4.4%)
  • May 7, 2020 Price Change
    $8,995,000 (-5.6%)
  • Mar 3, 2020 Price Change
    $9,525,000 (-1.3%)
  • Feb 12, 2020 Listed
    $9,650,000 (+62.2%)
  • Nov 2020
    Public Records
  • Nov 30, 2020 Sold
    $8,270,000 (-3.8%)
  • Aug 2015
    Public Records
  • Aug 19, 2015 Sold
    $5,950,000
  • Year Property taxes Tax assessment
  • 2024
    $132,404 +7.6%
    $8,776,190 +2.0%
  • 2023
    $123,048 -4.7%
    $8,604,108
  • 2022
    $129,050 +1.1%
    $8,604,108 +4.04%
  • 2021
    $127,611 +17.9%
    $8,270,000
  • 2020
    $108,276
    $8,270,000
  • 1551 Montecito Rd
    $8.27M
  • —
  • 92065
    $769K -2% y/y
  • Ramona
    $769K -2% y/y
No chart available
Statistics calculated by Movoto

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4/10
Hanson Elementary School
public Grades K-6
Ramona City Unified School District
3/10
Olive Peirce Middle School
public Grades 7-8
Ramona City Unified School District
7/10
Ramona High School
public Grades 9-12
Ramona City Unified School District
Source: GreatSchools.org © 2026. All rights reserved.

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