| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 382 S Anza St, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 28 |
| Transaction Date | 2011-07-29 |
| Transaction Price | $3,125,000 |
| Buyer | CZM Properties, LLC |
| Seller | Carisbrooke Apartment LLC |
382 S Anza St El Cajon Multifamily Investment
This 28-unit property built in 1977 sits in a neighborhood with 80.4% renter-occupied housing units and strong NOI performance, ranking in the 74th percentile nationally according to CRE market data from WDSuite.
Located in El Cajon's Urban Core neighborhood, this property operates in a rental-dominated market where 80.4% of housing units are renter-occupied, ranking in the top 1% nationally. The neighborhood's median contract rent of $1,784 places it in the 87th percentile nationally, while NOI per unit averages $8,972, ranking in the 74th percentile among San Diego metro neighborhoods.
Demographics within a 3-mile radius show a stable tenant base with 142,810 residents and an average household size of 3.0. Median household income of $81,741 is projected to increase 27.5% to $104,241 by 2028, while contract rent is forecast to rise 35.9% to $2,272 over the same period. This income growth trajectory supports rental demand expansion as the area's renter pool is expected to grow from 21,976 to 27,013 occupied units.
Built in 1977, the property aligns with the neighborhood's average construction year of 1980, indicating potential value-add opportunities through strategic capital improvements. The area's occupancy rate of 95.1% ranks above the metro median, demonstrating consistent rental demand despite limited amenity density, with no grocery stores, restaurants, or parks recorded within the immediate vicinity.
Home values averaging $599,000 create affordability pressure that reinforces rental demand, as elevated ownership costs keep households in the multifamily market. The rent-to-income ratio of 0.40 suggests manageable affordability for current tenants while supporting lease retention in this established rental submarket.
Crime metrics show mixed trends for investor consideration. Property offense rates of 1,132 per 100,000 residents rank in the 20th percentile nationally, indicating higher property crime relative to other neighborhoods nationwide. Violent crime rates of 305 per 100,000 residents rank in the 15th percentile nationally, with a notable 105% increase year-over-year.
Among the San Diego metro's 621 neighborhoods, this area ranks 507th for overall crime, placing it below the regional median. Investors should factor security considerations into property management strategies and tenant retention planning, while monitoring local safety initiatives that may influence long-term rental demand patterns.
The surrounding employment base includes major corporate offices and headquarters within reasonable commuting distance, supporting workforce housing demand for professional tenants.
- L-3 Telemetry & RF Products — defense & aerospace (11.1 miles)
- Sysco — food distribution (11.7 miles)
- Sempra Energy — utilities — HQ (13.4 miles)
- Qualcomm — technology — HQ (16.1 miles)
This El Cajon property offers exposure to a rental-dominant submarket with fundamental demand drivers intact. The neighborhood's 80.4% renter occupancy rate ranks in the top 1% nationally, while 95.1% occupancy and above-average NOI performance demonstrate operational stability. Demographic projections show household income rising 27.5% through 2028, supporting rent growth potential as the local renter base expands by 23%.
The 1977 construction year presents value-add opportunities through strategic renovations in a market where median rents of $1,784 rank in the 87th percentile nationally. High home values relative to income reinforce rental demand, as elevated ownership costs maintain tenant retention in this established multifamily corridor.
- Strong rental fundamentals with 80.4% renter-occupied housing units
- Above-average NOI performance ranking in 74th percentile nationally
- Projected 27.5% household income growth through 2028
- Value-add potential through strategic capital improvements
- Risk: Higher crime rates require enhanced security considerations