| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 29th | Poor |
| Amenities | 50th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 348 W Cypress Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1980 |
| Units | 35 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
348 W Cypress Ave El Cajon Multifamily Investment
Neighborhood fundamentals point to steady renter demand and high occupancy in the surrounding area, according to WDSuite’s CRE market data. Elevated ownership costs across San Diego County support lease retention dynamics for well-managed assets in El Cajon.
This 35-unit, 1980-vintage asset sits in an Urban Core pocket of El Cajon where neighborhood occupancy is strong (top quartile nationally), per WDSuite. Being slightly newer than the area’s average construction year (1973) can help competitive positioning versus older stock, while investors should still plan for selective system upgrades or modernization as part of a value-add program.
Amenities skew toward daily convenience: neighborhood data show very dense grocery and dining options (both near the top of national comparisons), alongside robust park access. Café, childcare, and pharmacy counts are comparatively thin within the immediate neighborhood, so residents likely rely on nearby nodes for those services. These dynamics are typical of San Diego’s east-county corridors and can still support stable renter demand.
Within a 3-mile radius, 54.7% of housing units are renter-occupied, indicating a deep tenant base and solid multifamily orientation. Population has grown modestly in recent years and households are projected to increase through 2028, expanding the renter pool and supporting occupancy stability for well-located properties.
Home values in the neighborhood run high relative to incomes (high national percentile for value-to-income), which indicates a high-cost ownership market. For multifamily investors, that context typically sustains reliance on rental housing and can support pricing power when units are well-maintained and correctly positioned. At the same time, the neighborhood’s rent-to-income readings suggest some affordability pressure, which calls for disciplined lease management and thoughtful renewal strategies.
Safety metrics for the neighborhood are below national benchmarks, and the area ranks 508 out of 621 metro neighborhoods on crime—indicating it is below the metro average on this measure. Nationally, the neighborhood sits in lower safety percentiles compared with peers. Recent trends are mixed: estimated violent offenses have eased year over year, while estimated property offenses have increased, per WDSuite’s data.
Investors should account for these dynamics in underwriting via security enhancements, lighting and visibility improvements, and resident engagement policies. Comparing comparable properties in competitive San Diego neighborhoods can help calibrate expense assumptions and leasing strategies.
The broader employment base spans technology, utilities, distribution, and life sciences—providing diversified demand drivers and commute convenience for renters. Nearby anchors include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — telemetry & RF operations (10.0 miles)
- Sysco — food distribution (10.9 miles)
- Sempra Energy — utilities (12.7 miles) — HQ
- Qualcomm — semiconductors & wireless (15.0 miles) — HQ
- Celgene Corporation — biotech (15.6 miles)
348 W Cypress Ave offers scale at 35 units in an El Cajon location where neighborhood occupancy is in the top quartile nationally and renter demand is reinforced by a high-cost ownership landscape. The 1980 vintage positions the property slightly newer than surrounding stock, supporting competitive performance while leaving room for targeted value-add to interiors and building systems. Based on CRE market data from WDSuite, household counts within a 3-mile radius are projected to rise through 2028, pointing to a larger tenant base and support for leasing stability.
Investors should weigh affordability pressure and below-average neighborhood safety by underwriting for security, resident experience, and prudent rent growth pacing. With thoughtful capital planning and management, the asset’s scale and location fundamentals can support resilient cash flow and durable occupancy versus older, more fragmented comparables.
- Strong neighborhood occupancy (top quartile nationally) supports leasing stability
- 1980 vintage is newer than area average, with clear value-add and modernization pathways
- High-cost ownership market sustains renter reliance, reinforcing demand depth
- 3-mile household growth outlook expands the tenant base into 2028
- Risks: below-average neighborhood safety and affordability pressure require disciplined operations