| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 421 S Mollison Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1972 |
| Units | 40 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
421 S Mollison Ave El Cajon Multifamily Investment
Neighborhood occupancy trends in the mid‑90s and an exceptionally high renter concentration point to durable tenant demand, according to WDSuite’s CRE market data.
Situated in El Cajon within the San Diego–Chula Vista–Carlsbad metro, this urban-core location serves a predominantly renter base. The neighborhood’s renter-occupied share ranks among the highest nationally (top 1%), supporting a deep tenant pool and steady leasing visibility for a 40-unit asset.
Operationally, average NOI per unit benchmarks in the top quartile among 621 metro neighborhoods, indicating competitive income performance relative to the local set. Occupancy for the neighborhood is above national norms, aiding stability, though owners should still plan for routine turnover and seasonality typical of workforce-oriented submarkets.
Amenities skew toward daily convenience and family services: cafe and childcare density score well nationally, while grocery, parks, and pharmacies are limited within neighborhood boundaries. For investors, this mix suggests reliable daytime activity and family-oriented demand drivers, with some residents likely traveling short distances for full-service retail. School ratings read weaker on average, which may modestly influence unit mix preferences and lease retention for family households.
Within a 3‑mile radius, households have grown in recent years and are projected to expand further by 2028, supporting a larger tenant base and absorption. Median home values are elevated versus national norms, reinforcing reliance on multifamily rentals; at the same time, rent-to-income ratios point to affordability pressure that warrants prudent rent-setting and renewal strategies. Vintage for the property (1972) is older than the neighborhood average (1980), creating potential value‑add through targeted renovations and systems upgrades informed by multifamily property research.
Safety indicators for the neighborhood trend below national averages (national percentiles in the low 20s for overall crime and mid‑teens for violent offenses), signaling a comparatively higher incidence than many U.S. neighborhoods. Within the San Diego–Chula Vista–Carlsbad metro, the area sits in the lower tier among 621 neighborhoods. Recent year‑over‑year readings also show an uptick in reported offenses.
Investors should underwrite proactive measures—lighting, access control, and partnership with responsive management—as part of operating plans, and reflect local trends in insurance, security provisions, and leasing criteria. Emphasize resident communication and site-level upkeep to support retention and reputation without over-relying on block‑level precision.
Proximity to defense/aerospace, food distribution, energy utilities, and technology employment anchors supports commuter convenience and helps stabilize renter demand at this location. The list below highlights nearby employers that shape the area’s workforce housing dynamics.
- L-3 Telemetry & RF Products — defense & aerospace (10.9 miles)
- Sysco — food distribution (11.6 miles)
- Sempra Energy — energy utility (13.3 miles) — HQ
- Qualcomm — telecommunications & semiconductors (16.0 miles) — HQ
- Celgene Corporation — biopharmaceuticals (16.5 miles)
This 40‑unit 1972 asset offers exposure to a renter‑heavy neighborhood with occupancy above national norms and income performance that ranks in the top quartile locally. Elevated ownership costs in the area sustain reliance on rentals, while household growth within a 3‑mile radius points to a gradually expanding tenant base that can support occupancy stability and measured rent initiatives.
The vintage positions the property for targeted value‑add—interiors, common areas, and building systems—that can enhance competitiveness against newer stock. Based on CRE market data from WDSuite, underwriting should balance demand depth with prudent affordability and safety assumptions, recognizing limited neighborhood groceries/parks and below‑average safety readings as manageable operating considerations rather than structural deterrents.
- Renter-heavy neighborhood with occupancy above national norms supports leasing stability
- NOI per unit competitive in top quartile among 621 metro neighborhoods
- Elevated home values reinforce multifamily demand and pricing power with careful renewal management
- 1972 vintage offers clear value-add pathways via unit and systems upgrades
- Key risks: below-average safety and limited nearby groceries/parks; operate with enhanced security and service positioning