| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 29th | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 299 Wisconsin Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1987 |
| Units | 22 |
| Transaction Date | 2023-04-30 |
| Transaction Price | $2,782,000 |
| Buyer | WISCONSIN EP LLC |
| Seller | WISCONSIN APARTMENTS LLC |
299 Wisconsin Ave El Cajon Multifamily Investment
Neighborhood occupancy is strong and has held near the high end locally, supporting income stability for a 22-unit asset, according to WDSuite’s CRE market data. With a renter-leaning housing landscape in the broader 3-mile area, demand depth should remain durable through typical leasing cycles.
The property sits in El Cajon’s Urban Core, where neighborhood-level occupancy is in the top quartile nationally, indicating steady rent rolls through typical turnover periods. The asset’s 1986 vintage is newer than the neighborhood’s average construction year of 1973 (rank 491 of 621 metro neighborhoods), which can enhance competitive positioning versus older stock; investors should still plan for system updates or targeted modernization to support rent premiums.
Daily-needs access is a clear strength: grocery availability ranks near the top of the metro (rank 5 of 621) and restaurants are similarly dense (rank 9 of 621), both placing the neighborhood in the top national percentiles for amenities. Park access also scores highly (rank 8 of 621), adding livability that can aid retention. By contrast, cafes, childcare, and pharmacies are thin in the immediate neighborhood by count (each near the bottom of the metro rankings), so residents may rely on nearby submarkets for those services.
Within a 3-mile radius, the renter-occupied share is about 55%, signaling a sizable tenant base that supports multifamily absorption and renewals. Population has inched up recently and is projected to continue growing, while households are expected to rise at a faster pace, expanding the renter pool and supporting occupancy stability. Median contract rents in the neighborhood trend above national norms (76th percentile) and median home values sit in a high-cost ownership context (85th percentile), which tends to reinforce reliance on rental housing and can sustain pricing power for well-maintained assets.
From an operations standpoint, rent-to-income at the neighborhood level indicates elevated affordability pressure (low national percentile), so disciplined lease management and measured renewals are prudent to balance retention and growth. Overall neighborhood performance is competitive among San Diego–Chula Vista–Carlsbad neighborhoods, with an occupancy rank of 167 out of 621 and housing fundamentals above the national median based on CRE market data from WDSuite.
Safety indicators are mixed and should be underwritten conservatively. The neighborhood ranks 508 out of 621 metro neighborhoods on crime, placing it below the metro average and in a lower national percentile for safety. Property offenses are elevated relative to national comparisons, while violent offense levels sit in a low national percentile but have shown recent improvement year over year. Investors should focus on practical measures—lighting, access control, and resident screening—and reflect this context in expense and loss-to-lease planning.
Proximity to defense, energy, and technology employers supports a diverse renter pipeline and commute convenience for workforce tenants. Key nearby employers include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace (10.1 miles)
- Sysco — food distribution (10.8 miles)
- Sempra Energy — energy utilities (12.8 miles) — HQ
- Qualcomm — wireless & semiconductors (15.1 miles) — HQ
- Celgene Corporation — biopharmaceuticals (15.6 miles)
This 22-unit, 1986-vintage building offers a balanced play on occupancy stability and location fundamentals in an amenity-rich pocket of El Cajon. The asset is newer than the neighborhood average, which can improve competitive positioning versus older buildings while leaving room for targeted upgrades to drive rent and retention. High neighborhood occupancy and a renter-leaning 3-mile area underpin demand durability, while the high-cost ownership context supports sustained reliance on multifamily housing.
Household counts within 3 miles have risen and are projected to expand further, indicating a larger tenant base over the next cycle. At the same time, neighborhood rent-to-income readings signal some affordability pressure, so value creation likely favors smart renovations, operational efficiency, and calibrated renewals over aggressive rent push. According to CRE market data from WDSuite, occupancy trends remain above national medians, suggesting income consistency if expenses and turns are managed carefully.
- Occupancy in the neighborhood ranks in the top quartile nationally, supporting income stability
- 1986 vintage offers relative competitiveness vs. older local stock with value-add potential
- Strong daily-needs access (grocery, restaurants, parks) enhances renter retention
- 3-mile renter concentration and projected household growth expand the tenant base
- Risk: affordability pressure and local safety context require disciplined lease and OpEx management