Ramona, CA 92065 1551 Montecito Rd.

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.