| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1521 Graves Ave, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1986 |
| Units | 96 |
| Transaction Date | 2012-05-17 |
| Transaction Price | $12,600,000 |
| Buyer | 1521 GRAVES LP |
| Seller | 659 COUNTRYSIDE LLC |
1521 Graves Ave El Cajon Multifamily Investment
This 96-unit property built in 1986 offers exposure to San Diego County's rental market with strong renter occupancy rates. Neighborhood-level data from WDSuite shows 95.3% occupancy and 57.7% renter-occupied housing units supporting multifamily demand.
El Cajon's Urban Core neighborhood demonstrates solid rental market fundamentals with 95.3% occupancy rates and 57.7% of housing units renter-occupied, ranking in the top quartile nationally among rental-heavy markets. The area maintains above-average grocery access with 5.22 stores per square mile, supporting tenant retention through convenient amenities.
Demographics within a 3-mile radius show stable household formation with 51,446 total households and median household income of $77,838. Projections indicate 26.8% household growth through 2028, expanding the renter pool to support multifamily demand. Contract rents averaging $1,649 maintain reasonable affordability ratios for the income base.
The 1986 construction year aligns with neighborhood averages, positioning the property for potential value-add opportunities through unit upgrades and operational improvements. Higher ownership costs in the broader San Diego market, with median home values at $360,081, reinforce rental demand as households remain in multifamily housing rather than transitioning to ownership.
Safety metrics indicate elevated crime rates compared to regional and national benchmarks, with the neighborhood ranking in the lower quartile among San Diego metro neighborhoods. Property offense rates show recent increases, requiring careful consideration of security measures and tenant screening protocols.
Investors should factor enhanced security costs and potential impact on tenant retention into underwriting assumptions. The urban core location provides density benefits but requires active property management to maintain competitive positioning within the broader San Diego rental market.
The San Diego metro employment base includes major corporate offices and headquarters within commuting distance, supporting workforce housing demand for the property's tenant profile.
- Sysco — food service distribution (9.8 miles)
- L-3 Telemetry & RF Products — defense & aerospace offices (10.3 miles)
- Sempra Energy — utilities — HQ (13.8 miles)
- Qualcomm — technology — HQ (14.8 miles)
- Celgene Corporation — pharmaceuticals (15.4 miles)
The 96-unit property offers exposure to San Diego County's rental market with neighborhood occupancy rates of 95.3% and strong renter tenure at 57.7% of housing units. According to CRE market data from WDSuite, demographic projections show 26.8% household growth through 2028, expanding the tenant base while median household incomes are forecast to increase 27.8% over the same period.
The 1986 vintage provides value-add potential through unit renovations and operational improvements, while elevated San Diego home values reinforce rental demand. However, investors should account for above-average crime rates and potential security costs when evaluating returns and tenant retention strategies.
- Strong neighborhood occupancy at 95.3% with majority renter-occupied housing
- 26.8% projected household growth through 2028 expanding tenant base
- Value-add opportunities through 1986 vintage property improvements
- High San Diego ownership costs reinforce multifamily rental demand
- Risk consideration: elevated crime rates require enhanced security measures