| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 316 Hart Dr, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1988 |
| Units | 24 |
| Transaction Date | 2000-03-29 |
| Transaction Price | $1,415,500 |
| Buyer | BRIDGE WF II CA PARKWAY CLUB LLC |
| Seller | PARKWAY CLUB APARTMENTS LP |
316 Hart Dr, El Cajon CA Multifamily Investment
Located in an urban core pocket with steady renter demand and above-median neighborhood occupancy, this 24-unit asset offers durable cash flow potential, according to WDSuite’s CRE market data. The surrounding area skews renter-occupied, reinforcing depth of the tenant base and supporting leasing stability.
The property sits within El Cajon’s urban core, where neighborhood occupancy trends are above national medians and the renter-occupied share is high. That combination typically supports a deeper tenant pool and more predictable leasing, based on CRE market data from WDSuite. The 1988 vintage is slightly newer than the neighborhood’s average stock, suggesting competitive positioning versus older assets while still allowing for targeted modernization to drive rent premiums and limit near-term capex surprises.
Local amenities lean practical: grocery and pharmacy access score in the higher national percentiles, while restaurants are comparatively dense for the metro. Parks and cafes are less prevalent in the immediate neighborhood, so on-site features and unit finishes may play a larger role in resident retention. For investors, this mix often translates to reliable day-to-day convenience that supports lease renewals, even if lifestyle amenities are more dispersed.
Within a 3-mile radius, demographics indicate modest population growth and a notable increase in households projected through 2028, pointing to a larger tenant base over time. Rising household incomes in the area, combined with continued renter pool expansion, can underpin occupancy stability, though effective pricing will matter as renters balance housing costs and income growth.
Ownership remains a high-cost proposition relative to incomes in this neighborhood and across the San Diego metro, which tends to sustain rental demand and support lease retention. At the same time, elevated rent-to-income ratios in the neighborhood signal some affordability pressure; proactive lease management and value-oriented upgrades can help maintain occupancy while capturing incremental rent growth.
Safety conditions in the neighborhood are weaker than the national median, with crime levels ranking below average among San Diego-Chula Vista-Carlsbad’s 621 neighborhoods. National percentiles indicate the area is not among top-performing safety cohorts, so investors should underwrite with conservative assumptions for security and operating practices.
Recent trends point to year-over-year increases in both property and violent offenses at the neighborhood level. Operators commonly mitigate these risks with lighting, access control, and resident engagement; underwriting should reflect appropriate insurance, security measures, and potential operating cost impacts while monitoring any metro-wide shifts that could improve comparative standing.
Nearby employment anchors span food distribution, defense and aerospace, energy utilities, wireless technology, and biopharma—supporting a broad renter base and commute convenience for residents of El Cajon’s urban core. The list below highlights notable employers within a roughly 10–16 mile commute.
- Sysco — food distribution (10.2 miles)
- L-3 Telemetry & RF Products — defense & aerospace (10.3 miles)
- Sempra Energy — energy utilities (13.5 miles) — HQ
- Qualcomm — wireless technology (15.0 miles) — HQ
- Celgene Corporation — biopharma (15.6 miles)
316 Hart Dr offers a 24-unit, 1988-vintage multifamily profile in an urban core setting with above-median neighborhood occupancy and a high renter-occupied share—both supportive of durable demand. Grocery and pharmacy access are strong for daily needs, and proximity to diversified employment hubs broadens the renter pool and helps sustain leasing. According to CRE market data from WDSuite, ownership costs in the area remain elevated relative to incomes, reinforcing reliance on rental housing and supporting longer-term tenant retention.
Investor focus points include measured value-add potential due to slightly newer-than-average vintage, steady neighborhood occupancy, and projected household growth within a 3-mile radius that should expand the tenant base. Key risks to underwrite are affordability pressure (rent-to-income) and neighborhood safety trends; both can be actively managed through disciplined pricing, resident experience, and property-level security investments.
- Above-median neighborhood occupancy and strong renter concentration support leasing stability
- 1988 vintage offers competitive positioning with targeted modernization upside
- Diversified nearby employers widen the renter pool and aid retention
- Elevated ownership costs bolster multifamily demand relative to for-sale options
- Risks: affordability pressure (rent-to-income) and below-median safety require prudent underwriting