| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 11th | Poor |
| Amenities | 30th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1515 Broadway, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1986 |
| Units | 78 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
1515 Broadway, El Cajon Multifamily Investment
Neighborhood data point to strong renter demand and full occupancy conditions, according to WDSuite’s CRE market data. The area’s high renter concentration supports durable leasing, while ownership costs tilt households toward rentals.
Livability is anchored by everyday convenience rather than lifestyle retail: grocery access ranks strong for the neighborhood (94th percentile nationally), while on-block cafés, parks, and pharmacies are limited, suggesting residents rely on nearby corridors for those needs. Median home values are elevated relative to national norms (90th percentile), a high-cost ownership backdrop that tends to reinforce reliance on multifamily rentals and can support pricing power and retention for stabilized assets.
For investors evaluating demand depth, the share of housing units that are renter-occupied is high at the neighborhood level, placing it among the more rental-oriented parts of the San Diego-Chula Vista-Carlsbad metro (ranked 101 of 621). That renter concentration signals a broader tenant base and supports leasing stability, though it also emphasizes the importance of unit finishes and management to capture share in a competitive renter pool.
Within a 3-mile radius, population has inched higher and households have increased, with WDSuite’s data indicating further household growth ahead. This points to a larger tenant base and potential renter pool expansion that can help sustain occupancy. Contract rents in the surrounding area have risen over the last five years, which supports revenue growth narratives; at the same time, neighborhood rent-to-income readings indicate some affordability pressure, calling for thoughtful lease management and renewal strategies. This balanced view aligns with disciplined multifamily property research.
Vintage matters for positioning: the property’s 1986 construction is newer than the neighborhood’s average vintage (1974), which can be competitively advantageous versus older stock. Investors should still underwrite for system updates or targeted renovations to maintain performance against renovated comparables and evolving renter expectations.
Safety indicators for the neighborhood track below both metro and national benchmarks. Based on relative rankings, the area is less safe than many San Diego–area neighborhoods (ranked 526 out of 621), and it sits in the lower national percentiles for safety, so investors should account for security measures and operational practices that support resident comfort.
Recent trend data show year-over-year increases in both violent and property offense rates at the neighborhood level. While conditions evolve by block and asset, underwriting should reflect this context through visibility, lighting, access control, and resident engagement strategies, and by benchmarking loss history against comparable communities in the submarket.
Proximity to diversified employers supports renter demand and commute convenience, with nearby food distribution, aerospace/defense, energy utilities, and technology anchors that can aid leasing and retention.
- Sysco — food distribution (11.5 miles)
- L-3 Telemetry & RF Products — defense & aerospace (12.2 miles)
- Sempra Energy — energy utilities (15.1 miles) — HQ
- Qualcomm — telecommunications & semiconductors (16.8 miles) — HQ
- Celgene Corporation — biotech/pharma (17.5 miles)
The investment thesis centers on durable renter demand, evidenced by a high neighborhood share of renter-occupied units and full occupancy conditions among local housing, based on CRE market data from WDSuite. Elevated for-sale housing costs in the area further reinforce reliance on rentals, while steady household growth within a 3-mile radius expands the tenant base and supports occupancy stability.
Built in 1986, the asset is newer than the neighborhood’s average stock, which can offer competitive positioning against older properties. Underwriting should still anticipate targeted modernization to capture rent premiums. Affordability pressure at the neighborhood level and below-average safety metrics are the key risks to manage through renovations, on-site security, and prudent lease strategies.
- Renter-heavy neighborhood supports deep tenant base and occupancy stability.
- Elevated home values sustain rental reliance, aiding pricing power and retention.
- 1986 vintage offers competitive edge versus older stock with value-add potential.
- Household growth within 3 miles expands the renter pool over the medium term.
- Risks: affordability pressure and below-metro safety; mitigate via upgrades, screening, and security.