January 17, 2017
Lee & Associates completed the sale of a 2.52-acre multifamily development site in Ramona, CA. Paseo Partners, LLC, acquired the permit-ready, vacant site for $1.7 million from Day Street Development, LLC.
Planned for 31 townhomes, the property is located at the Southeast corner of Day St. and La Brea. Construction on the project is slated to begin next month.
Lee & Associates’ Al Apuzzo says, “Project completion is expected for early 2018. The future townhomes will likely qualify for FHA financing.”
Lee & Associates’ North San Diego County’s Apuzzo and Matt Weaver represented both the buyer and seller in the transaction.
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