| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 50th | Fair |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1360 E Madison Ave, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1976 |
| Units | 110 |
| Transaction Date | 2022-07-25 |
| Transaction Price | $34,000,000 |
| Buyer | EAST MADISON AVENUE LP |
| Seller | CLEAR SKY MADISON LLC |
1360 E Madison Ave El Cajon Multifamily Investment
This 110-unit property built in 1976 operates within a neighborhood demonstrating 96.4% occupancy and strong rental demand fundamentals. According to CRE market data from WDSuite, the area ranks in the top 20% nationally for housing metrics while maintaining competitive rental pricing relative to San Diego County.
The property sits within a suburban neighborhood that ranks 355th among 621 metro neighborhoods with a B- overall rating. Neighborhood-level occupancy reaches 96.4%, placing it in the 80th national percentile and signaling stable rental demand. The area maintains 42.5% renter-occupied housing units, ranking in the 82nd national percentile nationally, which supports consistent multifamily tenant pools.
Demographics within the 3-mile radius show a population of approximately 138,000 with median household income of $78,801. The area demonstrates income diversity, with 24.3% of households earning above $100,000 annually. Five-year projections indicate continued population growth of 1.5% and household formation expanding by 24.2%, supporting rental demand expansion through 2028.
Built in 1976, this property aligns with the neighborhood's average construction year of 1982, suggesting opportunities for value-add renovations and capital improvements to capture rent premiums. Median contract rents in the neighborhood reach $1,865, ranking in the 89th national percentile, while home values average $741,257, creating ownership cost barriers that reinforce rental demand and support tenant retention strategies.
The neighborhood provides moderate amenity access with grocery stores at 0.96 per square mile and childcare facilities at 0.48 per square mile, both ranking above metro median levels. Limited restaurant and cafe density may impact tenant appeal, though proximity to employment centers within the broader San Diego market provides commute accessibility for working professionals.
The neighborhood demonstrates mixed safety metrics when compared to the broader San Diego metro area. Property offense rates of 737 per 100,000 residents rank 135th among 621 metro neighborhoods, placing it in the 29th national percentile. However, property crime has declined 21.3% over the past year, ranking in the 65th national percentile for improvement trends.
Violent crime rates show 219 incidents per 100,000 residents, ranking 286th among metro neighborhoods and in the 19th national percentile nationally. While these metrics indicate room for improvement, investors should consider the declining property crime trend and evaluate security enhancements as part of capital improvement strategies to support tenant retention and lease renewals.
The property benefits from proximity to major San Diego employers, providing workforce housing opportunities within commuting distance of corporate offices and headquarters.
- Sysco — food distribution services (11.6 miles)
- L-3 Telemetry & RF Products — defense & aerospace (11.8 miles)
- Sempra Energy — utilities & energy — HQ (14.5 miles)
- Qualcomm — technology & telecommunications — HQ (16.6 miles)
- Celgene Corporation — biotechnology (17.3 miles)
This 110-unit property presents a value-add opportunity within a stable rental market characterized by high occupancy and strong demographic fundamentals. The 1976 construction year provides renovation upside potential while neighborhood-level occupancy of 96.4% demonstrates consistent demand. According to multifamily property research from WDSuite, the area's 42.5% renter-occupied housing share ranks in the top 20% nationally, supporting long-term tenant retention strategies.
Projected demographic growth through 2028 includes 24.2% household formation expansion within the 3-mile radius, creating a larger renter pool to support absorption and renewal rates. High home values averaging $741,257 reinforce rental demand by maintaining ownership cost barriers, while median neighborhood rents of $1,865 provide competitive pricing power within the San Diego market.
- Neighborhood occupancy at 96.4% ranks in 80th national percentile
- 24.2% projected household growth supports rental demand expansion
- 1976 vintage offers value-add renovation opportunities
- High ownership costs at $741,257 median reinforce renter reliance
- Risk: Property crime metrics rank below metro median, requiring security improvements