| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 280 Wells Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1986 |
| Units | 22 |
| Transaction Date | 2000-03-23 |
| Transaction Price | $805,000 |
| Buyer | OBERSCHMIDT DAMON |
| Seller | OBERSCHMIDT ALEC C |
280 Wells Ave El Cajon Multifamily Investment Opportunity
Neighborhood-level data points to a deep renter-occupied base and steady occupancy that can support small-scale multifamily operations, according to WDSuite’s CRE market data.
Located in El Cajon within the San Diego-Chula Vista-Carlsbad metro, the neighborhood carries a C+ rating and sits within an Urban Core setting. Daily needs are well-covered: grocery and pharmacy availability score high versus national peers, and restaurant density is strong, while park and cafe access are thinner. For investors, this mix supports day-to-day convenience for residents, though limited green space may temper lifestyle appeal for some segments.
The median construction year in the neighborhood is 1981, and the subject property’s 1986 vintage is modestly newer than average. This typically aids competitiveness against older stock, while still warranting capital planning for aging systems and selective renovations to capture value-add upside.
Renter-occupied housing accounts for a substantial share of neighborhood units, indicating a broad tenant base and reinforcing multifamily demand depth. Neighborhood occupancy has been stable in a mid-90s band historically for the metro, and current readings here suggest balanced leasing conditions that can support cash flow consistency relative to comparable Urban Core pockets.
Within a 3-mile radius, demographics show a larger tenant base over time: households have increased in recent years and are projected to expand further, with mean and median household incomes trending higher. This points to renter pool expansion and potential support for rent growth and occupancy stability over a multi-year hold.
Ownership costs in the neighborhood are elevated relative to incomes, and home values sit well above many national markets. Combined with a rent-to-income profile that suggests some affordability pressure, the landscape generally sustains renter reliance on multifamily housing while calling for attentive lease management and renewal strategies.
School quality indicators in the neighborhood benchmark below national averages, which may influence family-driven demand segments. Still, the area’s amenity access for essentials and regional employment connectivity provide foundational support for workforce-oriented renter demand.
Relative to other neighborhoods nationwide, safety indicators for this area trend weaker, with crime measures placing in lower national percentiles. Compared with the San Diego metro’s 621 neighborhoods, the local rank indicates more crime than many peer areas, underscoring the importance of active property management and security posture.
Nationally, violent and property offense benchmarks fall in the lower deciles, signaling elevated incident rates versus typical U.S. neighborhoods. Investors should underwrite with pragmatic assumptions on insurance, security, and turnover, and weigh the neighborhood’s renter demand and amenity advantages against these risks.
Regional employers within commutable distance help anchor renter demand, particularly for workforce households. Nearby roles span defense electronics, food distribution, energy utilities, wireless technology, and biopharma — all relevant to leasing stability and retention.
- L-3 Telemetry & RF Products — defense & aerospace electronics (10.35 miles)
- Sysco — food distribution (10.90 miles)
- Sempra Energy — energy utilities (13.10 miles) — HQ
- Qualcomm — wireless technology (15.31 miles) — HQ
- Celgene Corporation — biopharma (15.86 miles)
This 22-unit, 1986-vintage asset offers a practical scale for professional management in an Urban Core neighborhood with strong everyday amenity coverage and a deep renter-occupied housing share. The property’s vintage is modestly newer than the neighborhood average, suggesting relative competitiveness with older stock while preserving value-add potential through targeted systems and interior upgrades. Neighborhood occupancy trends and a broad tenant base support income durability, and elevated ownership costs locally reinforce multifamily demand.
Within a 3-mile radius, households have grown and are projected to increase further, pointing to renter pool expansion that can support leasing and retention. According to CRE market data from WDSuite, rents and incomes in the area have trended upward, which, alongside strong regional employers, underpins long-term fundamentals. Key underwriting considerations include safety metrics that trail national benchmarks and rent-to-income levels that warrant careful renewal and pricing strategies.
- 22 units with 1986 vintage — competitive versus older stock and suitable for targeted value-add
- Deep renter-occupied base and stable neighborhood occupancy support income consistency
- 3-mile household and income growth indicate a larger tenant base and sustained demand
- Elevated ownership costs locally reinforce reliance on rentals, aiding pricing power over time
- Risks: below-average safety benchmarks and affordability pressure require active management