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Property profile & analytics
OFF-MARKET
Estimated value
$9,265,000
Apartment buildings
1551 Montecito Rd Ramona, CA 92065-5232
Entity Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9901335
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1984
Total area
36,248 SF
Lot
5.28 ac (229,996 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
281-100-26-00
UPID
US09-9901335
Cap rate & NOI
Priority signal for investors
Implied cap rate, NOI & suggested price
Cap rate vs submarket · NOI estimate · 3 price anchors
Implied cap rate, NOI & suggested price
Cap vs submarket · NOI estimate · 3 price anchors
Current use
Occupant on record · Public records
-
Landers Photography Photography Service (Bike/Boat/Book/etc) Store
-
Ramona Mountain Valley Apartments Apartment Building
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$10.16M
CAP Approach
CAP
$9.27M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$9.27M
Owner & transaction history
Jc Strategic LP · 5 yrs held
Jc Strategic LP
since 2020
Last sale
$8.3M
7 recorded transactions
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Ramona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
Top alternative use upside
Auto repair, garage
$13.8M
+21.3%
Office building
$13.1M
+14.5%
Cap rate
Implied · in-place · derived from last sale + estimated NOI
Implied Cap rate
#1
Implied · in-place · NOI ÷ last sale
In-place · derived from last sale + estimated NOI
Cap rate, NOI & submarket benchmark
Implied cap rate vs Ramona submarket · NOI estimate · Typical band, median & reading
Implied cap rate, NOI & submarket benchmark
Cap vs Ramona submarket · NOI estimate · typical band, median & reading
Refine your cap rate
8-question underwriting flow
1.
Property current status — Going-In vs Stabilized
2.
Price for denominator — asking / offer / market
3.
Leasing status & lease structure (NNN / Gross)
4.
Tenant risk profile & vacancy assumption
5.
Upload T12 / rent roll / OM (optional)
Refine in 60 seconds, get exact suggested price
T12 upload · Submarket benchmarks · Sensitivity grid
Suggested price · 3 cap rate anchors
Income approach @ 5% / 7% / 9% — aggressive / typical / conservative
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · Implied $/SF per anchor · Sensitivity grid
Suggested price at 5% / 7% / 9% cap
Aggressive / typical / conservative · implied $/SF · sensitivity
Value
AI, CAP & Alternative Use estimations · Realmo proprietary blendValue Estimations
Based on Realmo’s proprietary methodology
AI Approach
Method
Estimation
Statistic approach
$10,375,000
ML approach
$10,155,000
CAP Approach
CAP Return
Estimation
6%
$10,040,000
6.5%
$9,265,000
7%
$8,605,000
Alternative Use
Use
Estimation
APARTMENT HOUSE (5+ UNITS)
$11,410,000
Current use
AUTO REPAIR, GARAGE
$13,840,000
Change: +21% · Conversion: Difficult
OFFICE BUILDING
$13,070,000
Change: +15% · Conversion: Moderate
WAREHOUSE, STORAGE
$10,270,000
Change: -10% · Conversion: Difficult
Blend value · Realmo final
$9.27M
Range $8.34M – $10.19M · ±10% · vs last sale $8.27M (Nov 30 2020)
Last sale anchor
$8.27M
Nov 30 2020
Realmo estimate · informational only.
These numbers are calculated by our models from public records and may not reflect actual market value.
Not an appraisal.
Verify with a licensed appraiser before transacting. Realmo accepts no liability for divergence from real-world outcomes.
View the full estimation — every method, every assumption
Confidence drivers & risk notes · Custom comparable set · Free for first 3 / day
Full estimation methodology
Every method · every assumption · confidence drivers
Price per SF
Sale + rent benchmarks
Subject property
$256 / SF
Submarket sale & rent benchmarks
Median sale $/SF · Asking & closed rent · Submarket vacancy
Submarket sale & rent benchmarks
Median sale $/SF · asking & closed rent · submarket vacancy
Property tax & assessments
Tax year 2024Property tax & assessments
Tax year 2024
Tax billed
$132,404
Tax year 2024
Assessed value
$8,776,190
Assessed 2024
Previous assessed
$8,776,190
+0.0% YoY
Effective rate
1.51%
On assessed value
Assessed land
$6,367,248
Assessed improvement
$2,408,942
Applied tax rate
65.0000
Comparables
6 recent transactions · within 1.5 miComparable in this city
6 recent transactions
Comparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Recent comparable sales
Sale price & price/SF · Sale date & distance · Adjustments & confidence
Recent comparable sales
Sale price & $/SF · sale date & distance · adjustments
Property description
Physical attributes from public recordsBuilding & lot
Public records
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Status
Off-Market
Year built
1984
Heating
NONE
Units
40
Total area
36,248 SF
Lot
5.28 ac (229,996 SF)
Zoning code
R-4:MULTIPLE RESIDENTIAL
APN
281-100-26-00
UPID
US09-9901335
Jurisdiction
SAN DIEGO
Zoning & alternative use
R-4:MULTIPLE RESIDENTIAL · Ramona, CA
Zoning R-4:MULTIPLE RESIDENTIAL · permitted uses
R-4:MULTIPLE RESIDENTIAL · Ramona, CA
Permitted & conditional uses
Allowed uses · Special-permit conditions · Prohibited uses
Permitted & conditional uses
Allowed · special-permit conditions · prohibited
Ramona. Always verify with local authorities before improvements.
Alternative use value scenarios
Repositioning upside vs current use
APARTMENT HOUSE (5+ UNITS) Current
Est. value
$11.4M
AUTO REPAIR, GARAGE
Est. value
$13.8M
OFFICE BUILDING
Est. value
$13.1M
WAREHOUSE, STORAGE
Est. value
$10.3M
APARTMENT HOUSE (5+ UNITS) Current
AUTO REPAIR, GARAGE
OFFICE BUILDING
WAREHOUSE, STORAGE
Alternative use deep dive — conversion cost, permits, timeline
Conversion cost estimate · Permit path & risks · Stabilized NOI per option
Alternative use deep dive
Conversion cost · permit path · stabilized NOI per option
Building & site characteristics
From public records
Year built
1984
Heating
NONE
Units
40
Lot
5.28 ac
Current owner
From public records · entity-resolved
Jc Strategic LP
Entity
Mailing address
2037 CHRISTY LN, DEL MAR, CA 92014-2236
Mailing matches property
Different — outreach signal
Owner-occupied
No
Ownership since
2020
Owner contacts — direct phone, email, and related entities
Decision-maker phone · Verified email · Related entities & filings
Owner contacts
Email · phone · related entities
Sales History
13 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Mar 30, 2026
—
Jc Strategic LP
—
Deed
related
$4,800,000 · Mission FCU
Nov 30, 2020
$8,270,000
Jc Strategic LP
Ramona Mtn Vly Apts LP
Grant Deed
—
Aug 19, 2015
$5,950,000
Ramona Mountain Valley Apartments L
James M Nelson
Grant Deed
$4,165,000 · Jpmorgan Chase Bank NA
Sep 15, 2009
—
Nelson James M & Arlene M Tr
Nelson,james M & Arlene M
Quit Claim Deed
related
—
Mar 12, 1999
$1,000
Karl J Taylor
Nelson,james M & Arlene M
Grant Deed
related
—
Sep 30, 1998
$287,000
James M Nelson
Larry W Lobenstein Trustee
Grant Deed
$241,250 · Seller
Mar 25, 1994
$1,000,000
James M Nelson
Glendale Federal
Grant Deed
$800,000 · Glendale Federal Bank
Jan 18, 1994
$850,000
Glendale Federal Bank
Surnow,jack J
Trustees Deed
related
—
Jul 13, 1993
$1,450,000
Corine Zachay
Bradley,thomas L
Grant Deed
—
Apr 20, 1993
$90,000
Thomas L Bradley
Zachay,elmer & C
Grant Deed
—
Jun 15, 1989
$1,995,000
Zachay Elmer H &
Professional Dat
Trustees Deed
$1,496,575 · San Diego Real Estate Funding
Jun 15, 1989
—
San Diego Realty
Surnow Jack J
Trustees Deed
related
—
—
—
James M Nelson
—
Deed Of Trust
related
$1,450,000 · Washington Mutual Fsb
Coming soon
Costs & Benchmarks
Operating expenses, capex projections, utility benchmarks, and submarket comparables — all in one view.
Coming soon
Risks
Flood, climate, environmental, title, and tenant-concentration risk — surfaced with mitigations and source citations.
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