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Property profile & analytics
OFF-MARKET
Estimated value
$4,800,000
Apartment buildings
1606 Montecito Rd Ramona, CA 92065-2223
Individually Owned
5-yr Hold
Absentee Owner
~
Est. High Equity
Property ID
US09-9880318
Property profile
Verified
Property type
Apartment buildings
Use group
APARTMENT HOUSE (5+ UNITS)
Year built
1980
Total area
22,880 SF
Lot
0.97 ac (42,253 SF)
Zoning code
COMMERCIAL
APN
281-160-14-00
UPID
US09-9880318
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
-
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
Value estimations
Realmo proprietary · 4 methods
AI Approach
AI
$4.96M
CAP Approach
CAP
$5.85M
Comparable Approach
Comparable
by Request
Blend (final)
Blend
$4.80M
Owner & transaction history
David M Sterling · 5 yrs held
David M Sterling
since 2020
Last sale
$4.1M
7 recorded transactions
Zoning & alternative use
COMMERCIAL · Ramona, CA
Permitted uses
Permitted uses
Allowed · conditional · prohibited
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
$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
Blend value · Realmo final
$4.80M
Range $4.32M – $5.28M · ±10% · vs last sale $4.05M (Oct 28 2020)
Last sale anchor
$4.05M
Oct 28 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
$210 / 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
$77,135
Tax year 2024
Assessed value
$4,608,204
Assessed 2024
Previous assessed
$4,608,204
+0.0% YoY
Effective rate
1.67%
On assessed value
Assessed land
$2,503,222
Assessed improvement
$2,104,982
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
1980
Heating
NONE
Units
28
Total area
22,880 SF
Lot
0.97 ac (42,253 SF)
Zoning code
COMMERCIAL
APN
281-160-14-00
UPID
US09-9880318
Jurisdiction
SAN DIEGO
Zoning & alternative use
COMMERCIAL · Ramona, CA
Zoning COMMERCIAL · permitted uses
COMMERCIAL · 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
$7.2M
WAREHOUSE, STORAGE
Est. value
$6.5M
APARTMENT HOUSE (5+ UNITS) Current
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
1980
Heating
NONE
Units
28
Lot
0.97 ac
Current owner
From public records · entity-resolved
David M Sterling
Individual
Mailing address
15796 CRK HLS RD, EL CAJON, CA 92021-2579
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
7 recorded events · public records
Date
Price
Buyer
Seller
Deed Type
Mortgage
Oct 28, 2020
—
David M Sterling
Colleen Sterling
Quit Claim Deed
related
$2,700,000 · Mission FCU
Jan 10, 2017
$4,050,000
David M Sterling
Cgi 1 LP
Grant Deed
$2,700,000 · Mission FCU
Jul 15, 2014
$2,581,000
Cgi 1 LP
Mary Jean Kownacki
Grant Deed
$1,677,650 · Jpmorgan Chase Bank NA
Jul 15, 2014
—
Kownacki,mary J Tr
Kownacki,roman J
Affidavit Of Death
related
—
Jun 7, 2002
—
Kownacki Trust
Nelson,james M & Arlene M
Grant Deed
$1,470,000 · Abn Amro Mortgage Group INC
Sep 30, 1998
$125,545
James M Nelson
Larry W Lobenstein Trustee
Grant Deed
$84,473 · Seller
Jan 23, 1997
$75,000
James Nelson
David G Archer Trustee
Grant Deed
related
—
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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