| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 34th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1360 Melody Ln, El Cajon, CA, 92019, US |
| Region / Metro | El Cajon |
| Year of Construction | 1986 |
| Units | 20 |
| Transaction Date | 2006-03-26 |
| Transaction Price | $2,810,000 |
| Buyer | 1360 MELODY LP |
| Seller | 3K & J LP |
1360 Melody Ln El Cajon Multifamily Investment
Neighborhood occupancy is strong and local renter demand is reinforced by a high-cost ownership market, according to WDSuite’s CRE market data. The setup points to stable leasing conditions for a well-positioned 20-unit asset in San Diego County.
Positioned in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the neighborhood rates a solid B and is competitive among metro neighborhoods (277 of 621). Daily convenience is a strength: grocery and cafe density both rank in the top quartile among 621 metro neighborhoods, supporting steady foot traffic and everyday livability for renters.
From an investor lens, the neighborhood’s occupancy trends stand out. The area’s occupancy rate is in the top quartile nationally and above the metro median, indicating historically tight availability that can support pricing discipline and limit downtime between turns. Note this occupancy figure reflects the neighborhood overall, not this specific property.
Household incomes in the area sit above many peer neighborhoods, while elevated home values relative to income reinforce sustained reliance on multifamily rentals. This typically supports tenant retention and reduces move-out to ownership, an advantage for lease stability.
Amenities skew toward dining and everyday services—useful for workforce renters—while average public school ratings trail national norms. Childcare density, however, is also in the top quartile locally and strong nationally, providing a counterweight for family renters seeking proximity to services.
Safety conditions trend below both metro and national averages, with crime ranks indicating higher incident rates versus many San Diego metro neighborhoods and national percentiles in the lower ranges. Property offenses eased slightly year over year, while violent offenses showed a recent uptick. Investors should underwrite to prudent security, lighting, and operations policies and monitor ongoing trend data rather than block-level assumptions.
Proximity to major employment nodes supports renter demand and commute convenience for workforce households. Nearby employers include Sysco, L-3 Telemetry & RF Products, Sempra Energy, Qualcomm, and Celgene.
- Sysco — food distribution (11.9 miles)
- L-3 Telemetry & RF Products — defense & aerospace (11.9 miles)
- Sempra Energy — energy utilities (14.5 miles) — HQ
- Qualcomm — wireless technology (16.8 miles) — HQ
- Celgene Corporation — biotechnology (17.4 miles)
This 20-unit asset in El Cajon benefits from tight neighborhood occupancy and a renter base supported by high ownership costs across San Diego County. Based on CRE market data from WDSuite, the surrounding neighborhood’s occupancy sits in the top quartile nationally, while grocery and cafe access are competitive among metro peers—factors that can aid leasing velocity and retention. Average unit sizes of roughly 964 square feet add versatility for couples and small families.
Within a 3-mile radius, population and households have grown and are projected to continue expanding, indicating a larger tenant base ahead. Median contract rents are projected to rise through 2028, while the local value-to-income landscape suggests many households will continue to rely on multifamily, supporting demand durability. Key underwriting considerations include rent-to-income affordability pressure and below-average school ratings, plus neighborhood safety trends that warrant active property management.
- Tight neighborhood occupancy and competitive amenities support leasing stability
- High ownership costs sustain renter reliance on multifamily in this submarket
- Growing 3-mile household base points to a widening tenant pool
- Larger average unit sizes (~964 sf) enhance appeal to a broader renter mix
- Risks: affordability pressure (rent-to-income), below-average school ratings, and safety trends require proactive management