ADDRESS:
1464 Montecito Rd.
Ramona, CA 92065
(760) 789-6666
COUNTY: San Diego
PROJECT DESCRIPTION:
Las Palmas and Bentall Residential purchased and renovated this 70-unit family apartment complex in Ramona, California, which was completed in November of 2009. The renovation included new roofs, paint, energy efficient windows and patio doors, fencing, and improvements to landscaping. Kitchens and bathrooms also received new cabinets, countertops, appliances, plumbing fixtures, flooring and energy efficient lighting. Additionally, a new community room, computer learning center, picnic area and leasing office were added.
AMENITIES INCLUDE:
Barbecue and picnic area
Laundry facilities
Multipurpose social room
Full-service kitchen facilities
Computer center with bi-weekly educational classes
Manager’s office
Large green belts
Tether ball
Montecito Village is located 40 miles from the down town San Diego, and within one mile of numerous grocery stores, banks and a public library. Within walking distance is the Historical District with various unique shops and restaurants. Units are available to Families earning between 50% – 60% of the area median income.
PROPERTY MGMT: The John Stewart Company
FINANCING:
Tax Credit Equity Investor: Union Bank
Construction and Permanent Lender: Prudential Affordable Mortgage Company
UNIT MIX:
70 units
Number of Units/ Bedrooms / Unit Size
16 / 1 / 598-619(ada) sq. ft.
24 / 2 / 855 -888 sq. ft.
21 / 3 / 1280-1246 sq. ft.
8 / 4 / 1429-1413 sq. ft.
1 manager / 3 / 1280 sq. ft.
Equal Housing Opportunity100% AFFORDABLE:
Number of Units / % AMI
21 / 50%
48 / 60%
1 manager
RESIDENT SERVICES: More Information
