| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 351 S Lincoln Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1979 |
| Units | 25 |
| Transaction Date | 2013-06-12 |
| Transaction Price | $2,750,000 |
| Buyer | WISCONSIN LLC |
| Seller | LINCOLN 25 LTD I |
351 S Lincoln Ave El Cajon Multifamily Investment
This 25-unit property benefits from neighborhood-level occupancy at 95.1% and strong rental tenure dynamics, with 80% of local housing units occupied by renters according to CRE market data from WDSuite.
Located in El Cajon's urban core, this neighborhood demonstrates solid rental fundamentals with 80.4% of housing units occupied by renters, ranking in the top 1% nationally for rental tenure concentration. Neighborhood-level occupancy stands at 95.1%, positioning above the 72nd percentile nationally and indicating stable absorption patterns for multifamily operators.
The area's 1980 average construction year aligns closely with this property's 1979 vintage, suggesting consistent building stock without significant capital expenditure disadvantages relative to competing properties. Median contract rents of $1,784 rank in the 87th percentile nationally, reflecting strong rental pricing power within the San Diego metro's 621 neighborhoods.
Demographics within a 3-mile radius show a population of approximately 143,000 residents with household income growth of 33% over the past five years. The area maintains a 53% renter-occupied housing split, supporting sustained multifamily demand. Projected rent growth to $2,275 by 2028 represents a 37% increase, though investors should monitor affordability pressures as rent-to-income ratios currently rank in the bottom 2% nationally.
Amenity density presents mixed signals, with strong childcare access ranking in the 98th percentile nationally but limited grocery and restaurant options. The neighborhood's urban core designation and high rental concentration suggest tenant retention may depend more on housing affordability than immediate walkable amenities.
Property crime rates in the neighborhood show recent increases, with a 5.7% year-over-year rise in property offenses, though this trend ranks around the 35th percentile nationally for rate of change. Current property crime levels place the area in the bottom quartile among San Diego metro neighborhoods, requiring consideration in tenant retention and insurance planning.
Violent crime presents more significant concerns, with rates increasing 105% year-over-year and ranking in the bottom 15% nationally. While these metrics warrant attention in property management and security planning, investors should evaluate crime trends within the broader context of urban core dynamics and potential neighborhood stabilization efforts.
The property benefits from proximity to established corporate employers in San Diego's defense and technology sectors, providing workforce housing opportunities for commuting professionals.
- L-3 Telemetry & RF Products — defense technology (10.8 miles)
- Sysco — food service distribution (11.5 miles)
- Sempra Energy — utilities HQ (13.2 miles)
- Qualcomm — technology HQ (15.9 miles)
- Celgene Corporation — biotechnology (16.4 miles)
This 1979-vintage property capitalizes on El Cajon's exceptional rental market fundamentals, with neighborhood-level occupancy at 95.1% and 80% of local housing units occupied by renters. The area's rental concentration ranks in the top 1% nationally, indicating deep tenant demand that supports stable cash flows. Population growth and household income increases of 33% over five years within a 3-mile radius strengthen the renter pool, while projected rent growth to $2,275 by 2028 suggests pricing power potential.
The property's vintage aligns with neighborhood norms, avoiding relative obsolescence while potentially offering value-add renovation opportunities to capture projected rent growth. However, commercial real estate analysis from WDSuite indicates rising crime rates and current rent-to-income pressures that rank in the bottom 2% nationally, requiring careful tenant management and potentially limiting aggressive rent increases in the near term.
- Strong rental market with 95% neighborhood occupancy and top 1% national ranking for renter concentration
- Growing demographics with 33% household income growth and stable population trends
- Rent growth potential to $2,275 by 2028 representing 37% projected increase
- Value-add opportunity with 1979 vintage aligned to neighborhood construction patterns
- Risk factors include rising crime rates and affordability pressures requiring active management