| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 29th | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 228 W Park Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1987 |
| Units | 26 |
| Transaction Date | 2017-03-14 |
| Transaction Price | $2,345,500 |
| Buyer | ENDEMAN RONALD L |
| Seller | AMERICAN DREAM HOMES LLC |
228 W Park Ave El Cajon 26-Unit Multifamily Opportunity
Neighborhood occupancy is strong and has held firm in recent years, a dynamic supported by WDSuite’s CRE market data, pointing to steady renter demand for this submarket.
Located in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the property sits in an Urban Core neighborhood with resilient renter demand. Neighborhood occupancy trends are in the top quartile nationally, indicating fewer vacant units and steadier leasing relative to many U.S. submarkets, according to WDSuite’s CRE market data. The local renter-occupied share is among the highest across the 621 metro neighborhoods, suggesting a deep tenant base for multifamily operators.
The immediate area offers convenient daily needs access: grocery density is among the strongest in the metro (ranked near the top out of 621 neighborhoods), and restaurants are plentiful (competitive at the metro level and high nationally). Parks are also abundant relative to national norms, supporting overall livability. By contrast, cafes, pharmacies, and childcare options are comparatively limited in the neighborhood, which operators should consider when marketing and amenity programming.
Within a 3-mile radius, demographics show modest recent population growth with an increase in households and rising median and mean incomes over the last five years. Projections through 2028 indicate further household growth, which typically expands the renter pool and can support occupancy stability. The 3-mile area skews slightly toward renter-occupied housing, reinforcing depth for workforce and market-rate multifamily.
The 1987 vintage is newer than the neighborhood’s average construction year, which can provide a competitive edge versus older stock. Still, investors should underwrite near-term modernization and system updates typical for assets of this era to sustain leasing velocity and rent positioning.
Home values in the neighborhood are elevated relative to national benchmarks, and the value-to-income ratio ranks near the top nationally. A high-cost ownership market often sustains demand for rental housing and can support lease retention, though operators should monitor rent-to-income levels for affordability pressure that may influence renewal strategy and pricing power.
Safety indicators for the neighborhood trail national benchmarks. Compared with neighborhoods nationwide, the area sits below the national median for safety, and within the metro context it falls below the metro median among 621 neighborhoods. Recent trends are mixed: estimated violent incidents show a year-over-year improvement, while property crime has risen over the same period. Investors typically account for this profile with practical measures such as lighting, access control, and package management to support resident retention and loss prevention.
Nearby employment anchors span defense and aerospace, food distribution, utilities, wireless technology, and biotech — industries that broaden the renter base and help support leasing stability through commute convenience.
- L-3 Telemetry & RF Products — defense & aerospace (10.1 miles)
- Sysco — food distribution (10.9 miles)
- Sempra Energy — utilities (12.8 miles) — HQ
- Qualcomm — wireless & semiconductors (15.1 miles) — HQ
- Celgene Corporation — biotech (15.7 miles)
This 26-unit 1987-vintage asset aligns with a neighborhood characterized by high occupancy and a large share of renter-occupied housing, supporting demand durability. Elevated for-sale housing costs in the area reinforce long-term reliance on multifamily, while the property’s newer-than-average vintage versus the neighborhood suggests competitive positioning against older stock, with clear value-add potential through targeted interior and systems upgrades. According to CRE market data from WDSuite, neighborhood occupancy remains above national norms, providing a favorable backdrop for lease stability.
Within a 3-mile radius, household counts and incomes have trended upward and are projected to continue rising through 2028, indicating a larger tenant base and sustained leasing tailwinds. Operators should monitor affordability pressures and local safety considerations, but the combination of strong neighborhood occupancy, high renter concentration, and diverse nearby employment centers supports a balanced, long-term thesis.
- High neighborhood occupancy supports leasing stability and lower downtime risk
- Elevated ownership costs sustain multifamily demand and retention potential
- 1987 vintage offers value-add upside via targeted modernization
- 3-mile growth in households and incomes expands the prospective renter pool
- Risks: below-median safety profile and affordability pressure require proactive operations