| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 58th | Fair |
| Amenities | 55th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 2700 Chatham St, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1980 |
| Units | 42 |
| Transaction Date | 2019-08-23 |
| Transaction Price | $39,051,000 |
| Buyer | B9 MF 2950 FLETCHER LLC |
| Seller | COLONNADE FEE OWNER LLC |
2700 Chatham St El Cajon Multifamily Investment
Neighborhood multifamily occupancy remains high, supporting stable renter demand, according to WDSuite’s CRE market data. Elevated for-sale home values in this inner suburb further support renter reliance on apartments rather than ownership.
Located in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the neighborhood carries a B+ rating and shows investment-friendly fundamentals. Neighborhood occupancy is strong and ranked 148 out of 621 metro neighborhoods, placing it competitive among San Diego–Chula Vista–Carlsbad neighborhoods and in the top quartile nationally by percentile. This backdrop points to resilient leasing and reduced downtime risk at the submarket level, though property-specific performance will vary.
Everyday amenities are accessible: restaurants and pharmacies score above national norms (84th and 82nd percentiles, respectively), grocery access is solid (69th percentile), and park density is a standout (93rd percentile). Café and childcare concentrations are thinner locally, which may modestly affect walk-to convenience for some residents but does not materially change the overall daily-needs profile.
Schools in the area average a 4.0 out of 5 and rank 72 of 621 metro neighborhoods, indicating above-metro performance that can aid retention for family renters. Within a 3-mile radius, demographics show a stable and gradually expanding tenant base: population and household counts have increased over the past five years and are projected to continue growing by 2028, supporting ongoing demand for rental units. About 46% of housing units within 3 miles are renter-occupied, indicating a deep renter pool for workforce and middle-income product.
Home values in the neighborhood sit in the upper national percentiles, a high-cost ownership context that tends to sustain rental demand and support pricing power. The rent-to-income ratio trends near 0.21, which suggests manageable affordability pressure in this location relative to incomes, a helpful factor for lease retention and renewal strategy.
The property’s 1980 vintage is slightly older than the neighborhood’s average construction year (1987). For investors, that points to potential value-add through targeted renovations and the need for disciplined capital planning for systems and common areas to remain competitive against newer stock.
Safety metrics should be evaluated in context. The neighborhood’s crime rank sits in the lower tiers of the metro (520 out of 621), and national percentiles indicate it is less safe than many areas nationwide. Recent data also show a year-over-year uptick in both property and violent offense rates. Investors typically underwrite this with prudent security measures, tenant screening, and loss-prevention planning, and by benchmarking premiums or concessions observed in comparable assets nearby.
Because crime dynamics can shift by micro-location and over time, it is advisable to pair these neighborhood-level indicators with on-the-ground observations and comparable property performance within the immediate trade area.
Proximity to established employers supports a steady renter base and commute convenience for residents. Nearby employment anchors include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene, which collectively draw a diverse workforce across defense, distribution, energy, technology, and life sciences.
- L-3 Telemetry & RF Products — defense & aerospace offices (7.9 miles)
- Sysco — food distribution (9.8 miles)
- Sempra Energy — energy (10.9 miles) — HQ
- Qualcomm — technology & wireless (13.1 miles) — HQ
- Celgene Corporation — biopharmaceutical (13.5 miles)
This 42-unit, 1980-vintage asset benefits from a neighborhood with high occupancy and above-average daily-needs access, supporting stable leasing and renewal potential. Elevated ownership costs in the area reinforce renter reliance on multifamily housing, while rent-to-income levels suggest manageable affordability pressure that can aid retention. Based on CRE market data from WDSuite, the surrounding neighborhood ranks competitively within the metro for occupancy and posts top-quartile national standing by percentile.
Within a 3-mile radius, recent population and household growth, with further increases projected by 2028 alongside rising median incomes, signal a larger tenant base over the medium term. The 1980 vintage implies value-add potential through unit and common-area upgrades, as well as prudent capital planning for aging systems to remain competitive against newer stock.
- Strong neighborhood occupancy and top-quartile national standing support leasing stability.
- High-cost ownership market sustains renter demand and pricing power potential.
- Expanding 3-mile renter pool and rising incomes underpin demand over the next cycle.
- 1980 vintage offers value-add and repositioning opportunities with targeted capex.
- Risks: neighborhood safety trends and older systems require underwriting for security and capital reserves.