121 Ramona St | Ramona, CA 92065
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- LoopNet Team
121 Ramona St
Ramona, CA 92065
Terre at Preserve · Multifamily Property For Sale · 52 Units
Investment Highlights
- Potential to capture $465 rent premiums by executing an interior and exterior renovation enhancement program
- Rare opportunity to acquire Canyon Crest, the largest apartment community in Ramona, and Starlight Grove; 16% of Ramona’s apartment stock
- With current rent growth of 10.2% and current vacancy rate of 1.6%, Ramona is exhibiting one of the steadiest rates in the region over the past year
- Newly executed leases have grown by 8.2% without any interior renovations as the submarket rent growth drives loss-to-lease increases
- Starlight Grove boasts majority two- and three- bedroom floorplans
- Two-property assemblage providing an investor with the advantage of selling off the properties separately to appeal to a broad spectrum of buyers
PROPERTY FACTS
| No. Units | 52 | Building Size | 49,560 SF |
| Property Type | Multifamily | Average Occupancy | 100% |
| Property Subtype | Apartment | No. Stories | 2 |
| Apartment Style | Garden | Year Built | 1987 |
| Building Class | C | Parking Ratio | 1.31/1,000 SF |
| Lot Size | 3.15 AC |
| No. Units | 52 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 3.15 AC |
| Building Size | 49,560 SF |
| Average Occupancy | 100% |
| No. Stories | 2 |
| Year Built | 1987 |
| Parking Ratio | 1.31/1,000 SF |
Unit Amenities
- Air Conditioning
- Cable Ready
- Dishwasher
- Disposal
- Kitchen
- Refrigerator
Site Amenities
- Laundry Facilities
- Pool
- Spa
- Tennis Court
- Online Services
- Public Transportation
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 8 | - | 640 |
| 1+2 | 4 | - | 850 |
| 2+2 | 16 | - | 840 - 860 |
| 3+2 | 24 | - | 1,140 |
PROPERTY TAXES
| Parcel Number | 281-160-17 | Improvements Assessment | $7,486,006 |
| Land Assessment | $4,317,660 | Total Assessment | $11,803,666 |
PROPERTY TAXES
Parcel Number
281-160-17
Land Assessment
$4,317,660
Improvements Assessment
$7,486,006
Total Assessment
$11,803,666
zoning
| Zoning Code | R3 |
| R3 |
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