| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Poor |
| Demographics | 30th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 247 N 1st St, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1972 |
| Units | 31 |
| Transaction Date | 2010-02-04 |
| Transaction Price | $3,202,000 |
| Buyer | RONALD L ENDEMAN & JUDITH LYNN ENDEMAN DECLAR |
| Seller | LEGACY CONDOMINIUMS LP |
247 N 1st St El Cajon Multifamily Investment
This 31-unit property benefits from neighborhood-level occupancy of 97.3%, ranking in the 85th percentile nationally. Strong rental demand fundamentals support investor interest in this established multifamily asset.
Located in El Cajon's urban core, this neighborhood demonstrates robust rental market fundamentals with 84.3% of housing units occupied by renters, ranking in the 99th percentile nationally among 621 San Diego metro neighborhoods. The area maintains strong occupancy at 97.3%, significantly above typical market levels and supporting consistent cash flow potential.
Built in 1972, this property aligns with the neighborhood's average construction year of 1976, suggesting potential value-add opportunities through targeted capital improvements. The established building stock presents renovation upside while maintaining competitive positioning within the local rental market.
Demographics within a 3-mile radius show a stable renter base with 53.2% of housing units occupied by renters and median household income of $80,546. Population growth projections indicate modest expansion to 144,527 residents by 2028, supporting sustained rental demand. Contract rents have increased 31.4% over five years, with forecasted median rents reaching $2,303 by 2028.
The neighborhood offers strong amenity density with 12.6 grocery stores per square mile ranking in the 100th percentile nationally, plus extensive restaurant and pharmacy access. However, investors should note limited childcare facilities and below-average school ratings of 2.0 out of 5, which may influence tenant demographics and retention patterns.
Safety metrics present mixed signals for investor consideration. Property crime rates rank 574th among 621 San Diego metro neighborhoods with an estimated rate of 4,945 incidents per 100,000 residents, placing the area in the 2nd percentile nationally. Violent crime rates similarly rank 559th in the metro area, indicating elevated security concerns relative to regional averages.
Both property and violent crime rates have increased over the past year by 20.5% and 44.1% respectively, though these changes rank near metro medians for year-over-year trends. Investors should factor security considerations into property management strategies and may want to evaluate enhanced safety measures as part of value-add improvements.
The San Diego metro's diverse employment base includes major corporate anchors within commuting distance, supporting workforce housing demand for multifamily properties.
- L-3 Telemetry & RF Products — defense technology (11.3 miles)
- Sysco — food distribution (11.5 miles)
- Sempra Energy — utilities (13.8 miles) — HQ
- Qualcomm — technology (16.2 miles) — HQ
- Celgene Corporation — biotechnology (16.8 miles)
This 31-unit El Cajon property presents a value-add opportunity in a high-occupancy rental market. Built in 1972, the asset offers renovation upside potential while benefiting from neighborhood occupancy rates of 97.3% that rank in the 85th percentile nationally. The area's 84.3% renter-occupied housing units create deep rental demand, supporting stable cash flows and lease-up velocity.
According to CRE market data from WDSuite, demographic projections show household growth of 24.4% through 2028, expanding the potential tenant base. Contract rents have increased 31.4% over five years with forecasted growth continuing to $2,303 median rents by 2028. The property's 809 square foot average unit size aligns with affordable workforce housing demand in the San Diego metro.
- Strong occupancy fundamentals with 97.3% neighborhood occupancy ranking 85th percentile nationally
- High rental demand with 84.3% renter-occupied units, 99th percentile among metro neighborhoods
- Value-add potential from 1972 construction year and neighborhood renovation trends
- Projected household growth of 24.4% through 2028 supporting tenant demand
- Risk consideration: elevated crime rates require security management and potential capital allocation