| 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 | 1999-12-29 |
| Transaction Price | $825,000 |
| Buyer | R G CARNATION FIRST FAMILY LTD PRTNRSHIP |
| Seller | KAHN WILLIAM G |
421 S Mollison Ave, El Cajon Multifamily Investment
Renter demand is deep in this urban core pocket, with neighborhood occupancy holding near metro norms and a high share of renter-occupied units supporting leasing stability, according to WDSuite’s CRE market data.
Located in El Cajon within the San Diego–Chula Vista–Carlsbad metro, the neighborhood presents an urban core profile where multifamily product serves a sizable tenant base. Neighborhood occupancy trends sit around the metro median (ranked 317 of 621 metro neighborhoods), suggesting steady absorption and relatively resilient leasing through cycles per WDSuite’s CRE market data.
Renter-occupied housing is a defining feature here, with a very high renter concentration (top national percentile), which typically supports a larger and more consistent tenant pool for workforce-oriented properties. Elevated ownership costs compared with national norms further reinforce reliance on rental options, which can aid retention and reduce turnover sensitivity during modest economic shifts.
Local amenities are mixed: cafes and childcare options score competitively within the metro (both ranking within the top decile of 621 neighborhoods), enhancing day-to-day convenience for residents. By contrast, the immediate neighborhood shows limited grocery, park, and pharmacy presence per square mile, so residents may rely on nearby areas for certain errands—an operational consideration for positioning and resident services.
The property’s 1972 vintage is older than the neighborhood’s average construction year (1980), flagging potential capital expenditure planning and selective value‑add opportunities. For investors, incremental upgrades to interiors and common areas can improve competitive positioning against newer stock while targeting durable rent premiums supported by the area’s renter base.
Within a 3-mile radius, demographics indicate gradual population growth and an increase in households over the historical period, with forecasts pointing to further household expansion. This trajectory supports a larger tenant base and underpins occupancy stability. Rising household incomes in the 3-mile area, alongside expected rent growth, suggest potential to sustain rent levels while warranting attention to affordability and lease management.
Safety trends in the neighborhood are below metro averages, with crime ranking in the less favorable tier among 621 metro neighborhoods and a low national safety percentile. Recent data also indicate a year‑over‑year uptick in violent offenses and modest increases in property offenses, according to WDSuite’s CRE market data. Investors should underwrite with realistic assumptions, emphasize on‑site security practices, and consider how resident services and lighting/camera upgrades can support retention.
Proximity to regional employers supports renter demand through commute convenience for a diverse workforce base, including defense/aerospace, food distribution, energy utilities, and technology—important drivers for leasing stability in this submarket.
- L-3 Telemetry & RF Products — defense & aerospace (10.98 miles)
- Sysco — food distribution (11.65 miles)
- Sempra Energy — energy utilities (13.38 miles) — HQ
- Qualcomm — technology & R&D (16.03 miles) — HQ
- Celgene Corporation — biopharma offices (16.57 miles)
421 S Mollison Ave offers a 40‑unit footprint in an urban core neighborhood where renter concentration is notably high and occupancy trends sit around the metro median. The combination supports demand depth and day‑to‑day leasing stability. Elevated ownership costs at the neighborhood level reinforce reliance on multifamily housing, benefiting renewal potential and pricing power when paired with attentive lease management. According to CRE market data from WDSuite, local amenity access is strong for cafes and childcare, while limited immediate grocery and park presence suggests thoughtful resident programming could improve stickiness.
Built in 1972, the asset is older than the neighborhood average, indicating capital planning and selective value‑add upside—particularly in interiors, systems, and curb appeal—to stay competitive against newer product. Within a 3‑mile radius, modest population growth and a projected increase in households point to a gradually expanding renter pool, while rising incomes and rents support long‑term rent sustainability. Key risks include affordability pressure for some cohorts and safety metrics that trail metro leaders; both can be mitigated through targeted upgrades, resident engagement, and disciplined underwriting.
- High renter concentration supports a deep tenant base and steady leasing
- Occupancy around metro norms with renewal potential reinforced by elevated ownership costs
- 1972 vintage offers value‑add and capital improvement pathways to enhance competitiveness
- 3‑mile demographics indicate expanding households and income growth supporting rent levels
- Risks: affordability pressures and below‑average safety metrics warrant conservative underwriting