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12/14/16
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Boulder Ridge Villas, an 11-unit rental community in the San Diego submarket of Ramona, sold for $3.6 mil, or $327k/unit. The property, located at 1918 and 1922 Kelly Ave, was purchased by Block Builders Investment Group.
Built in 2008, Boulder Ridge Villas is comprised entirely of large townhome-style units that average 1.7k sf in size. Each unit has a large three-bedroom floor plan with direct access to a two-car garage. Interior amenities include granite counter tops, dual-sink vanities in master baths, walk-in closets, and full size washer/dryers.
Jim Neil, Eric Comer, and Merrick Matricardi with CBRE represented the seller, Boulder Ridge Villas LLC an affiliate of KirE Builders Inc. The buyer was repped by Raymond Choi and Carson Trujillo of Marcus & Millichap.
The property is located in a primarily residential area of Ramona and is within walking distance of shopping, schools, and recreational amenities. It has a recorded Final Map for condominiums, allowing an investor to sell the units individually in the future.
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