San Diego – December 12, 2016 – CBRE Group Inc., announces the sale of Boulder Ridge Villas, located at 1918 & 1922 Kelly Avenue, in the submarket of Ramona for $3.6 million. CBRE multifamily experts Jim Neil, Eric Comer, and Merrick Matricardi represented the seller, Boulder Ridge Villas, LLC an affiliate of KirE Builders, Inc., and the buyer, Block Builders Investment Group, was represented by Raymond Choi & Carson Trujillo of Marcus & Millichap. Both the seller and buyer are based out of San Diego.
Boulder Ridge Villas is a rental community comprised of 11 large townhome style rentals built in 2008. The average unit size is 1,705 square feet; 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.
“Boulder Ridge Villas is Ramona’s highest quality and most unique rental communities,” said Jim Neil, senior vice president of CBRE in San Diego.
The property is located in a primarily residential area of Ramona and is within walking distance of shopping, schools, and recreational amenities. The property has a recorded Final Map for condominiums, allowing an investor to sell the units individually in the future. Boulder Ridge Villas is in proximity from Highway 67 and is a short drive from the larger employment and shopping opportunities in Poway and Escondido.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (in terms of 2015 revenue). The Company has more than 70,000 employees (excluding affiliates), and serves real estate owners, investors and occupiers through more than 400 offices (excluding affiliates) worldwide. CBRE offers strategic advice and execution for property sales and leasing; corporate services; property, facilities and project management; mortgage banking; appraisal and valuation; development services; investment management; and research and consulting. Please visit our website at www.cbre.com.
