| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 415 S Lincoln Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1974 |
| Units | 47 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $11,696,500 |
| Buyer | MF PANDA NR OWNER CA LP |
| Seller | 626 PRESIDENT LINCOLN LLC |
415 S Lincoln Ave El Cajon Multifamily Investment
Neighborhood renter demand and stable occupancy support a durable income profile, according to WDSuite’s CRE market data. With a 1974 vintage, the asset may offer value-add potential relative to newer local stock.
Situated in El Cajon’s Urban Core, the property benefits from neighborhood occupancy around the mid‑90s, suggesting generally steady leasing conditions versus many U.S. submarkets, based on CRE market data from WDSuite. The area’s renter concentration is high (share of housing units that are renter‑occupied), indicating a deep tenant base that can support absorption and retention through typical cycles.
Local cost-to-own remains elevated for the metro, with home values higher than many U.S. neighborhoods. In investor terms, a high-cost ownership market tends to reinforce reliance on rental housing and can support pricing power when managed carefully. At the same time, neighborhood rent-to-income metrics point to affordability pressure, which calls for disciplined lease management and amenity/value positioning.
Livability signals are mixed. Cafes and childcare show strong density relative to national peers, while neighborhood-level counts for groceries, parks, pharmacies, and restaurants within the immediate boundary are limited; residents may rely on nearby commercial corridors for daily needs. Average school ratings in the neighborhood trail regional norms, which is a consideration for family-oriented leasing strategies.
Demographics aggregated within a 3‑mile radius indicate modest population growth in recent years and an increase in households, expanding the potential renter pool. Looking ahead, forecasts point to continued household gains and higher median incomes, which supports rent collections and occupancy stability if product quality and pricing remain competitive.
Relative to the metro (621 neighborhoods total), the neighborhood’s overall rating sits below the median, yet housing fundamentals such as neighborhood-level NOI per unit and occupancy are competitive among San Diego-Chula Vista-Carlsbad neighborhoods. For this 1974 asset, the local average construction year skews newer, underscoring potential value‑add and capital planning opportunities to differentiate versus 1980s-era stock.
Safety indicators for the neighborhood trail national benchmarks. Compared with neighborhoods nationwide, crime percentiles are on the lower end (i.e., less favorable), and within the San Diego-Chula Vista-Carlsbad metro’s 621 neighborhoods, the area ranks closer to the bottom than the top. Recent data show a year‑over‑year uptick in both violent and property offenses, so investors should underwrite security measures, lighting, and resident engagement as part of operations.
In practical terms, frame safety within broader leasing strategy: thoughtful site upkeep, access control, and coordination with local resources can help support resident satisfaction and retention despite below‑average safety metrics. Always compare micro‑location performance to nearby submarkets during due diligence.
The employment base within a commutable radius spans defense/aerospace, energy, logistics, and technology—supports workforce housing demand and broad renter profiles tied to L‑3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace offices (10.8 miles)
- Sysco — foodservice distribution (11.6 miles)
- Sempra Energy — energy utilities (13.2 miles) — HQ
- Qualcomm — semiconductor & wireless (15.9 miles) — HQ
- Celgene Corporation — biopharma (16.4 miles)
This 47‑unit, 1974 vintage community sits in a renter‑oriented neighborhood where occupancy has held in the mid‑90s, supporting income durability and lease‑up consistency. The vintage suggests scope for targeted renovations and systems upgrades to improve competitive positioning versus the neighborhood’s generally newer average stock, while high ownership costs in the metro underpin continued reliance on multifamily housing.
Demographics within a 3‑mile radius show modest population growth and a larger household base, pointing to ongoing renter pool expansion. According to CRE market data from WDSuite, neighborhood rent-to-income ratios warrant attentive pricing and renewal strategies, but stable occupancy and a deep renter base provide a workable foundation for value‑add execution. Investors should underwrite for operating controls given below‑average safety readings and limited neighborhood-level essentials (groceries, parks, pharmacies) inside the immediate boundary.
- High renter concentration and mid‑90s neighborhood occupancy support demand and collections
- 1974 vintage offers value‑add and capex avenues to outperform newer nearby stock
- Elevated ownership costs in the metro reinforce reliance on rental housing
- 3‑mile household and income growth expands the tenant base for leasing
- Risk: below‑average safety metrics and affordability pressure require disciplined operations