| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Poor |
| Demographics | 30th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 360 N 1st St, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1973 |
| Units | 56 |
| Transaction Date | 2019-06-13 |
| Transaction Price | $12,950,000 |
| Buyer | AL Group, LLC |
| Seller | Pinnacle Heritage LLC, Other, Pinnacle Investments, Price/unit and /sf |
360 N 1st St El Cajon Multifamily Investment
This 56-unit property benefits from a highly rental-oriented neighborhood with 84% renter occupancy and strong multifamily property research fundamentals, according to CRE market data from WDSuite.
The property sits in an urban core neighborhood with strong rental demand fundamentals. With 84% of housing units renter-occupied, ranking 13th among 621 San Diego metro neighborhoods, this area demonstrates exceptional reliance on multifamily housing. Neighborhood-level occupancy remains robust at 97.3%, outperforming many comparable markets and supporting lease-up stability.
Built in 1973, this vintage aligns with the neighborhood average construction year of 1976, indicating consistent building stock that may present value-add renovation opportunities. The area offers dense amenity access with 12.6 grocery stores per square mile (top percentile nationally) and 25.2 restaurants per square mile, supporting tenant retention through convenience and walkability.
Demographics within a 3-mile radius show a stable renter base with 143,000 residents and modest population growth of 1.3% over five years. The area maintains affordable rental dynamics with median contract rents of $1,658, though rent-to-income ratios suggest affordability pressures that require careful lease management considerations. Home values averaging $79,000 reinforce rental demand by maintaining elevated ownership costs relative to renting options.
Crime metrics indicate challenges that require consideration in investment planning. Property offense rates rank 574th among 621 metro neighborhoods with a 16th percentile nationally, suggesting higher crime levels compared to regional and national averages. Violent offense rates similarly rank 559th metro-wide with a 5th percentile nationally.
Recent trends show property offense rates increased 20.5% year-over-year, while violent offenses rose 44.1%. These trends warrant attention to security measures, tenant screening protocols, and property management strategies that address safety concerns while maintaining competitive occupancy levels.
The property benefits from proximity to major San Diego employers, supporting workforce housing demand from technology, energy, and defense sectors.
- L-3 Telemetry & RF Products — defense technology (11.2 miles)
- Sysco — food distribution (11.4 miles)
- Sempra Energy — utilities (13.8 miles) — HQ
- Qualcomm — technology (16.1 miles) — HQ
This 56-unit property leverages exceptional rental market fundamentals in El Cajon's urban core. The neighborhood's 84% renter occupancy rate ranks among the top 1% nationally, while 97.3% occupancy levels indicate strong absorption and retention dynamics. Built in 1973, the property presents potential value-add opportunities through strategic renovations that could capture upside in a market with median rents of $1,626.
Commercial real estate analysis from WDSuite reveals NOI per unit averaging $9,636 in this neighborhood, ranking in the 77th percentile nationally. Demographics within 3 miles show stable household formation with 47,000 households growing 4.6% over five years, supporting sustained rental demand. Forecast data suggests continued renter pool expansion with household income growth of 28% projected through 2028.
- Exceptional rental market with 84% renter occupancy ranking top 1% nationally
- Strong neighborhood occupancy at 97.3% supporting lease stability
- Value-add potential with 1973 vintage allowing strategic renovations
- Proximity to major employers including Qualcomm and Sempra Energy headquarters
- Crime metrics require enhanced security measures and tenant screening protocols