| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 71st | Poor |
| Demographics | 31st | Poor |
| Amenities | 45th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 12135 Royal Rd, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 2001 |
| Units | 120 |
| Transaction Date | 2015-07-26 |
| Transaction Price | $10,600,000 |
| Buyer | SER JOBS FOR PROGRESS INC SAN JOAQUIN VA |
| Seller | ROYAL HEIGHTS LP |
12135 Royal Rd El Cajon Multifamily Investment
Built in 2001, this 120-unit asset is newer than much of the surrounding stock and benefits from steady neighborhood occupancy, according to WDSuite’s CRE market data. The location offers durable renter demand within the San Diego metro, with potential to outperform older comparables on leasing and retention.
Situated in an Inner Suburb of the San Diego-Chula Vista-Carlsbad metro, the property’s neighborhood shows stable housing dynamics with occupancy around typical levels for the region. Median contract rents sit on the higher end locally, while the neighborhood rent-to-income profile suggests careful lease management to support retention and renewal strategies. Home values are elevated for the area, which can sustain reliance on multifamily housing and support pricing power when positioning renovated units.
Daily needs are relatively well served by groceries and childcare options, though cafés, pharmacies, and park access are limited within the immediate neighborhood. Average school ratings trend on the lower side; investors should factor this into unit mix positioning and amenity programming to appeal to households prioritizing convenience and value. Relative to older 1970s-vintage homes nearby, a 2001 build can compete more effectively on systems and finishes, though selective modernization may still be warranted as the asset approaches mid-life.
Tenure data indicates roughly one-third of housing units in the neighborhood are renter-occupied, signaling a measured but consistent base of multifamily demand. Within a 3-mile radius, populations and household counts have grown in recent years and are projected to continue expanding, pointing to a larger tenant base and support for occupancy stability. Rising household incomes in the 3-mile area further reinforce demand for professionally managed rental housing.
Compared with metro and national CRE trends, the neighborhood scores around the middle of the pack overall, with strengths in everyday amenities (notably groceries and childcare) and higher home values, balanced against thinner lifestyle amenities and lower average school ratings. For investors, the setup favors durable workforce-driven demand with upside from strategic unit renovations and operational execution.
Neighborhood safety compares near the national middle overall, with a recent decline in property offenses over the last year indicating improving trends. Violent-offense measures remain an area to monitor relative to national benchmarks, so prudent security, lighting, and resident engagement practices can help sustain leasing performance.
Within the San Diego metro context, crime exposure in this neighborhood is higher than many peer areas, but the downward movement in property offenses is a constructive signal. Investors should underwrite with conservative assumptions and consider measures that support resident confidence and retention.
Proximity to regional employers supports a broad renter pool and commute convenience, led by foodservice distribution, defense and aerospace, energy, wireless technology, and biopharma nodes referenced below.
- Sysco — foodservice distribution (10.5 miles)
- L-3 Telemetry & RF Products — defense & aerospace (11.9 miles)
- Sempra Energy — energy (15.3 miles) — HQ
- Qualcomm — wireless & semiconductors (16.2 miles) — HQ
- Celgene Corporation — biopharma (16.9 miles)
This 2001-vintage, 120-unit asset offers competitive positioning versus older neighborhood stock, with neighborhood occupancy near regional norms and a renter base supported by elevated ownership costs. According to CRE market data from WDSuite, the area exhibits higher median contract rents and steady housing demand, suggesting potential for consistent leasing with thoughtful pricing and renewal management. Limited lifestyle amenities locally can be offset by emphasizing on-site offerings and renovations that modernize interiors and common areas.
Demand fundamentals are underpinned by a growing 3-mile household base and rising incomes, which point to a larger tenant pool and support for occupancy stability. Key risks to underwrite include relatively lower school ratings, thinner parks and café access, and safety considerations compared with some San Diego neighborhoods, all of which can be mitigated through targeted capex, amenity strategy, and proactive operations.
- 2001 vintage competes well versus older area stock, with selective modernization upside
- Elevated ownership costs support sustained renter reliance and pricing power
- Expanding 3-mile household base and rising incomes reinforce tenant demand
- Nearby employment nodes in energy, tech, aerospace, and distribution aid leasing stability
- Risks: safety metrics and lower school ratings; limited local lifestyle amenities