| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 29th | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 193 W Park Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1973 |
| Units | 21 |
| Transaction Date | 2022-06-27 |
| Transaction Price | $600,000 |
| Buyer | HOBAN HOLDINGS INC |
| Seller | HALE STREET ASSOCIATES LLC |
193 W Park Ave, El Cajon Multifamily Investment
Neighborhood occupancy remains steady and renter demand is deep, according to WDSuite s CRE market data, supporting durable income fundamentals in this El Cajon submarket.
This Urban Core neighborhood shows solid renter demand: neighborhood occupancy is approximately 97.5% (neighborhood metric, not property-level) and ranks in the top quartile nationally, placing it above the metro median among 621 San Diego neighborhoods. Renter-occupied unit concentration is very high locally, indicating a large tenant base for multifamily operators.
Amenity access is a mixed profile. Restaurants and parks are extensive (both competitive nationally, with restaurants near the 99th percentile and parks near the 100th percentile), and grocery availability ranks among the strongest in the metro (ranked 5 out of 621). However, cafes, childcare, and pharmacies are sparse within the immediate neighborhood, which may modestly affect everyday convenience compared with other San Diego submarkets.
Within a 3-mile radius, demographics point to a stable and expanding renter pool: households increased over the last five years and are projected to grow further through 2028, with the renter share near the mid-50% range. Household incomes have trended higher, and population growth is modest, supporting steady leasing velocity and renewal prospects over time.
Rent and ownership context favor sustained multifamily demand. Neighborhood median contract rents sit above national norms and have expanded over the past five years. Home values are elevated versus national benchmarks and the value-to-income ratio sits in a high national percentile, creating a high-cost ownership market that tends to reinforce reliance on rental housing while requiring disciplined lease management when rent-to-income ratios run higher.
Safety performance is below the metro average relative to other San Diego neighborhoods (ranked 508 out of 621), and crime rates compare weaker than most neighborhoods nationwide. That said, recent trends show some improvement in violent offense rates year over year, suggesting incremental progress rather than a structural shift.
Investors typically underwrite with conservative assumptions in locations like this e.g., security line items, lighting, access controls, and partnership with local community resources o support resident experience and retention.
Proximity to regional employers supports commuter convenience and a diverse renter base, anchored by defense & aerospace, food distribution, energy utilities, and technology. The list below highlights notable employers within practical commuting distance.
- L-3 Telemetry & RF Products defense & aerospace (10.15 miles)
- Sysco food distribution (10.92 miles)
- Sempra Energy energy utilities (12.83 miles) HQ
- Qualcomm technology & R&D (15.16 miles) HQ
- Celgene Corporation biotechnology (15.70 miles)
The investment case centers on durable renter demand and leasing stability supported by neighborhood fundamentals. Neighborhood occupancy trends sit above metro norms and renter concentration is high, indicating a deep tenant base. Elevated home values relative to incomes point to a high-cost ownership landscape that tends to sustain multifamily demand, while rent-to-income levels call for attentive lease management and renewal strategies. According to CRE market data from WDSuite, local amenities skew toward strong parks, restaurants, and grocery access, which can aid long-term livability and retention even as certain daily conveniences are thinner.
Forward-looking demographics aggregated within a 3-mile radius show continued household growth and income gains, supporting steady absorption and pricing power over time. Operator focus should include resident experience, expense controls, and unit positioning to compete effectively within the Urban Core peer set.
- High neighborhood occupancy and strong renter concentration support income stability
- Elevated ownership costs reinforce reliance on rental housing in the submarket
- 3-mile household growth and rising incomes underpin demand and retention
- Amenity strengths (parks, restaurants, grocery) bolster long-term livability
- Risk: affordability pressure (higher rent-to-income) and below-metro safety require proactive management