Add Listing
Property Lookup
    Property Lookup
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    Back to Search
    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    1606 Montecito Rd Ramona, CA 92065-2223

    • Apartment buildings
    • 22,880 SF
    • 0.97 lot acres
    OFF-MARKET
    Last Sale
    Oct 28, 2020
    $4,050,000
    Value Estimations
    $4,800,000
    Show details
    Cap Rate Potential
    7.5%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-9880318
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Santa Maria Creek Staging Area / Hiking Area
    • Josh Mak Photography | Real Estate Photography & Floor Plans / Photography Service / (Bike/Boat/Book/etc) Store
    • Santa Maria Creek Apartments / Apartment Building / Apartments

    Property Details for 1606 Montecito Rd

    Year built
    1980
    Lot size
    0.97 lot acres
    Property size
    22,880 SF
    Zone code
    COMMERCIAL
    Property type
    Apartment buildings
    APN
    281-160-14-00
    APU
    2811601400

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $5,080,000
      ML approach
      $4,960,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $6,335,000
      6.5%
      $5,850,000
      7%
      $5,430,000

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $7,205,000
      Current use
      WAREHOUSE, STORAGE
      $6,485,000
      Change: -10% Conversion: Difficult

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Ramona
    County
    San Diego
    State
    California
    Longitude
    -116.88
    Latitude
    33.0397
    CBSA code
    41740
    CBSA name
    SAN DIEGO-CARLSBAD-SAN MARCOS, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $77,135
    $2,503,222
    $2,104,982
    $4,608,204
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $15,645,000
      69,060 SF

      140 14th St

      APARTMENT HOUSE (5+ UNITS) • 69,060 SF
      140 14th St, Ramona, CA 92065-2154
      View Details
    • Value Estimation
      $8,040,000
      46,450 SF

      430 16th St

      APARTMENT HOUSE (5+ UNITS) • 46,450 SF
      430 16th St, Ramona, CA 92065-2607
      View Details
    • Value Estimation by Request
      1.06 Acres

      617 11th St

      APARTMENT HOUSE (5+ UNITS) • 1.06 Acres
      617 11th St, Ramona, CA 92065-3935
      View Details
    • Value Estimation
      $2,735,000
      18,746 SF

      1918 Kelly Ave

      APARTMENT HOUSE (5+ UNITS) • 18,746 SF
      1918 Kelly Ave, Ramona, CA 92065-3007
      View Details
    • Value Estimation
      $14,985,000
      65,361 SF

      511 14th St

      APARTMENT HOUSE (5+ UNITS) • 65,361 SF
      511 14th St, Ramona, CA 92065-2712
      View Details
    • Value Estimation
      $9,235,000
      35,878 SF

      425 16th St

      APARTMENT HOUSE (5+ UNITS) • 35,878 SF
      425 16th St, Ramona, CA 92065-2653
      View Details

    Similar Nearby for Sale

    • $800,000
      2,286 SF

      Ramona Duplex: Investment Opportunity

      Well-maintained duplex in Ramona, CA, ideal for investors or multi-family.
      1428 Realty Rd, Ramona, CA 92065
      View Details
    • $124,999

      Rancho Ramona Mobile Home

      Move-in ready home in all-ages Ramona community.
      1537 H St, Ramona, CA 92065
      View Details
    • $375,000
      2.95 Acres

      Ramona Land: 2.95 Acres, $375K

      Prime Ramona land, multiple use potential.
      500 A St, Ramona, CA 92065
      View Details
    • $750,000

      4.58 Acre Land Parcel

      Land parcel totaling 4.58 acres for sale.
      19630 Camino Vista Rd, Ramona, CA 92065
      View Details
    • $199,000

      Ramona Agricultural Land For Sale

      Agricultural land available in Ramona, California, with mitigation potential.
      Robertson St, Ramona, CA 92065
      View Details
    • $189,000

      10 Acre Parcel with Views

      10 acre parcel ideal for building a dream home.
      Lone Oak Trl, Ramona, CA 92065
      View Details

    Similar Nearby for Lease

    • Contact for pricing
      5,460 SF

      Retail Space with Drive-Thru

      5,457 SF retail space with drive-thru in Ramona, CA.
      1407 Main St, Ramona, CA 92065
      View Details
    • Contact for pricing
      19,753 SF

      Ramona Retail Space Available

      Retail space available for lease in Ramona, California.
      1660 Main St, Ramona, CA 92065
      View Details
    • Contact for pricing
      22,527 SF

      Stonegate Plaza: Ramona Retail Center

      Grocery-anchored shopping center with space available.
      1660-1676 Main St, Ramona, CA 92065
      View Details
    • Contact for pricing
      4,000 SF

      4 Acres with 4,000 SF Barn

      4 acres with 4,000 SF barn, ideal for wine maker.
      17718 Highway 67, Ramona, CA 92065
      View Details
    • Contact for pricing
      2,212 SF

      Ramona Flex / Industrial Space

      Flex / Industrial space available for rent in Ramona, CA.
      2443 Kelly Ave, Ramona, CA 92065
      View Details
    • Contact for pricing
      3,980 SF

      Retail Space in Ramona

      Retail property available for lease in Ramona, California.
      1512 Main St, Ramona, CA 92065
      View Details
    Request Owner's contact information
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    1606 Montecito Rd
    Ramona, CA 92065-2223
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    Google sign-in failed. Please try again or use another login method.
    Sign Up Successful!
    You now have access to more from Realmo!