| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 74th | Fair |
| Demographics | 53rd | Fair |
| Amenities | 21st | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2346 Needham Rd, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1972 |
| Units | 22 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
2346 Needham Rd El Cajon Multifamily Investment
Neighborhood occupancy is exceptionally tight, suggesting resilient leasing conditions for well-run assets, according to WDSuite’s CRE market data. Positioned in a high-cost ownership market, this property can serve demand from renters who value proximity to jobs and relative affordability versus buying.
El Cajon’s suburban setting offers day-to-day convenience with grocery access that tracks above many U.S. neighborhoods, while restaurants are competitive within the San Diego metro. By contrast, cafes, parks, and pharmacies are thinner locally, so investors should underwrite resident amenity expectations toward on-site features and nearby retail corridors rather than immediate walk-to options.
Rents in the neighborhood test well above national norms (high national percentile), and neighborhood occupancy is among the strongest in the metro. These metrics are measured for the neighborhood, not the property, but they indicate durable renter demand and support for pricing power through the cycle based on CRE market data from WDSuite.
Within a 3-mile radius, the renter-occupied share is substantial, supporting a deeper tenant base for a 22-unit asset. Recent trends show modest population and household growth, and forward-looking estimates point to more households alongside slightly smaller average household sizes. For investors, that mix can expand the renter pool and support occupancy stability even if overall population softens.
Home values in this part of San Diego County sit in a high national percentile, and the value-to-income profile indicates a high-cost ownership market. For multifamily, elevated ownership costs tend to sustain reliance on rental housing, aiding lease retention and reducing move-outs to ownership, while rent-to-income ratios in the neighborhood appear manageable in aggregate for tenant retention.
The property’s 1972 construction is slightly older than the neighborhood average vintage (early-1970s). Investors should plan for ongoing capital expenditures and selective renovations to enhance competitiveness versus newer stock, while targeting operational efficiencies to capture demand in a tight-occupancy environment.
Relative to other San Diego–Chula Vista–Carlsbad neighborhoods (621 total), this area ranks in the lower half for safety, and its national safety percentiles are below the median. That means investors should assume a more active security and site-management posture compared with top-quartile suburban submarkets.
Property-related offenses sit in lower national percentiles, and recent year-over-year changes have been volatile. While conditions can vary by block and property operations, underwriting should include lighting, access control, and resident engagement measures to support retention and protect NOI.
Proximity to regional employers supports commuter convenience and renter demand, with nearby roles spanning aerospace/defense, food distribution, utilities, and technology. The following employers anchor the broader job base referenced here.
- L-3 Telemetry & RF Products — defense & aerospace (8.2 miles)
- Sysco — food distribution (9.7 miles)
- Sempra Energy — utilities (11.3 miles) — HQ
- Qualcomm — wireless technology (13.3 miles) — HQ
- Celgene Corporation — biopharma offices (13.8 miles)
2346 Needham Rd combines a tight-occupancy neighborhood backdrop with a high-cost ownership market, creating a supportive setting for stabilized multifamily operations. According to CRE market data from WDSuite, neighborhood rents sit well above national norms and occupancy is among the strongest locally, indicating durable demand for well-maintained assets.
Built in 1972, the asset may benefit from targeted value-add and systems modernization to sharpen its competitive positioning versus newer product. Within a 3-mile radius, the sizable renter-occupied share and rising household counts point to a larger tenant base and potential for steady lease-up and retention, even as household sizes trend smaller.
- Tight neighborhood occupancy supports leasing stability and pricing discipline.
- High-cost ownership market reinforces renter reliance on multifamily housing.
- 1972 vintage offers value-add and CapEx opportunities to drive NOI.
- 3-mile area shows increasing households, expanding the renter pool and supporting retention.
- Risks: below-median safety metrics and limited immediate amenities (cafes/parks) warrant proactive management and resident experience planning.