| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 390 S Mollison Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1981 |
| Units | 28 |
| Transaction Date | 2018-10-08 |
| Transaction Price | $5,000,000 |
| Buyer | HURST GEORGE G |
| Seller | RSL MOLLISON LLC |
390 S Mollison Ave, El Cajon Multifamily Investment
Neighborhood occupancy trends are solid and renter demand is deep, according to WDSuite’s CRE market data, supporting stable operations for a 1976-vintage, 28-unit asset in San Diego County.
Situated in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the neighborhood reflects Urban Core dynamics that tend to favor multifamily demand. Occupancy in the surrounding neighborhood is competitive nationally, and neighborhood net operating income per unit trends above the national median, based on CRE market data from WDSuite. The housing stock skews renter-occupied at a very high share, indicating a sizable tenant base investors can underwrite for lease-up and renewal stability.
Within a 3-mile radius, demographics indicate modest population growth alongside a clear increase in total households, pointing to a larger tenant base over time. Projections show additional household gains through the next five years, which generally supports occupancy stability and leasing velocity for well-positioned product. Median household incomes in the 3-mile area have risen meaningfully, which helps offset rent growth and can support retention for properties positioned at attainable rent levels.
Local amenity access is mixed. The neighborhood ranks competitively for cafes (top decile nationally), yet shows fewer immediate groceries, pharmacies, and parks within the neighborhood’s small footprint. For investors, this suggests marketing emphasis on nearby lifestyle nodes and commuting access, rather than walk-to daily-needs retail inside the neighborhood boundaries.
Home values in the neighborhood are elevated relative to many areas nationwide, and the value-to-income ratio sits in a high national percentile. In a high-cost ownership market, this typically sustains reliance on multifamily housing and can strengthen pricing power, though investors should calibrate affordability to maintain lease retention.
Relative to the San Diego metro’s 621 neighborhoods, this area ranks in the lower tiers for safety, and its national safety percentiles are below the median. Investors should underwrite prudent security measures and tenant screening, and compare trends to nearby submarkets rather than focusing on block-level variation.
Recent year-over-year data indicate some volatility in both property and violent offenses. As with many Urban Core locations, operating plans that include lighting, access controls, and partnership with local resources can help support resident retention and on-site experience over a multiyear hold.
The employment base features regional anchors across energy, technology, life sciences, food distribution, and aerospace. These employers support a broad renter pool and commute convenience relevant to workforce and professional tenants.
- L-3 Telemetry & RF Products — aerospace & defense (10.9 miles)
- Sysco — food distribution (11.6 miles)
- Sempra Energy — energy utility (13.3 miles) — HQ
- Qualcomm — communications technology (16.0 miles) — HQ
- Celgene Corporation — biopharma offices (16.5 miles)
This 1976-vintage, 28-unit property offers value-add and modernization potential relative to the neighborhood’s early-1980s average vintage, giving investors levers to refresh interiors, systems, and curb appeal to enhance competitive positioning. Neighborhood occupancy is solid and renter concentration is among the highest in the metro, reinforcing demand depth. Elevated ownership costs in the area typically sustain reliance on rentals, which can support pricing power when balanced with lease management to mitigate affordability pressure. According to multifamily property research from WDSuite, the neighborhood’s operating profile sits above national medians for occupancy and NOI per unit.
Within a 3-mile radius, the tenant base is expanding as households increase and incomes trend higher, with projections pointing to additional household growth over the next five years. This backdrop supports sustained leasing velocity and renewal prospects, provided owners calibrate finishes and rents to local affordability and manage for Urban Core safety perceptions.
- Deep renter-occupied housing base and competitive neighborhood occupancy support demand stability
- 1976 vintage presents clear interior and systems value-add/modernization upside
- High-cost ownership market reinforces renter reliance and supports pricing power when managed carefully
- 3-mile household growth and rising incomes expand the tenant base and aid leasing
- Risks: affordability pressure and Urban Core safety perceptions require active lease and property management