| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 389 S Lincoln Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 25 |
| Transaction Date | 1994-12-16 |
| Transaction Price | $133,000 |
| Buyer | TROWBRIDGE ERWIN L |
| Seller | SHIRK L N |
389 S Lincoln Ave, El Cajon Multifamily Investment
Neighborhood indicators point to steady renter demand and occupancy around the mid‑90s, according to WDSuite’s CRE market data. With a high renter-occupied share in the surrounding area, the asset benefits from a deep tenant base relative to ownership alternatives.
Situated in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the neighborhood shows stable rental dynamics with occupancy trending above national norms. Importantly, these occupancy figures reflect neighborhood performance, not the subject property. Renter concentration is high in the area, indicating depth of demand for multifamily units and supporting leasing continuity through cycles.
Amenity access is mixed. Café density ranks in the top quartile among 621 metro neighborhoods and sits in a high national percentile, yet the immediate neighborhood footprint shows fewer grocery, park, and pharmacy options, suggesting residents likely rely on adjacent corridors for daily needs. School ratings in nearby zones trend lower on average, which some family renters may weigh when comparing submarkets.
Home values in the neighborhood skew elevated for the region, which tends to reinforce reliance on rental housing and can aid retention for well-managed properties. At the same time, rent-to-income levels are on the higher side locally, which calls for disciplined lease management to limit turnover risk.
The property’s 1977 vintage is slightly older than the neighborhood average (around 1980), signaling potential value‑add opportunity via interior and systems modernization. For investors underwriting CapEx, this positioning can improve competitive standing versus older stock while targeting measurable upgrades.
Safety trends are mixed. Based on WDSuite’s CRE market data, the neighborhood scores below national averages on safety percentiles, and recent year‑over‑year estimates point to some uptick in violent‑offense rates. For underwriting, investors often plan for lighting, access control, and security measures to support tenant retention and protect common areas. These references are neighborhood‑level indicators and not specific to the property.
The broader employment base blends defense/aerospace, utilities, food distribution, semiconductors, and biotech — a mix that supports renter demand through a range of paycheck sources and commute options to major job centers nearby.
- L-3 Telemetry & RF Products — defense & aerospace (10.8 miles)
- Sysco — food distribution (11.6 miles)
- Sempra Energy — utilities (13.2 miles) — HQ
- Qualcomm — semiconductors (15.9 miles) — HQ
- Celgene Corporation — biotechnology (16.4 miles)
This 25‑unit asset combines a strong renter pool with neighborhood occupancy that trends in the mid‑90s, supporting cash flow stability relative to many urban submarkets. According to CRE market data from WDSuite, renter‑occupied share is high locally, and neighborhood NOI per unit trends are competitive among metro peers — positives for sustaining demand. The 1977 vintage is slightly older than the neighborhood average, offering practical value‑add angles through interior updates and selective systems work to enhance positioning and operational efficiency.
Market context is constructive but calls for disciplined underwriting. Elevated ownership costs in the area can sustain multifamily demand and lease retention, while higher rent‑to‑income levels at the neighborhood level suggest closer attention to affordability pressure and renewal strategies. Employers within commuting range diversify the wage base, which can help support occupancy through cycles even as amenity gaps (notably limited grocery and parks within the immediate footprint) and below‑national safety percentiles warrant property‑level mitigations.
- High neighborhood renter concentration supports a deep tenant base and leasing stability.
- Occupancy trends in the mid‑90s at the neighborhood level underpin cash flow consistency.
- 1977 vintage offers value‑add potential via interior modernization and targeted systems upgrades.
- Proximity to diversified employers broadens demand drivers and retention prospects.
- Key risks: elevated rent‑to‑income ratios, below‑national safety percentiles, and limited immediate grocery/park access.