| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 456 S Mollison Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 41 |
| Transaction Date | 2008-09-25 |
| Transaction Price | $3,630,000 |
| Buyer | GROOMS JOHN EDWARD |
| Seller | FIRST REGIONAL BANK |
456 S Mollison Ave El Cajon Value-Add Multifamily
Neighborhood-level fundamentals point to durable renter demand and solid occupancy, according to WDSuite’s CRE market data, with metrics measured for the neighborhood rather than the property. A high renter concentration supports leasing depth while investors should plan for affordability sensitivity in pricing decisions.
Located in El Cajon within the San Diego metro, the property sits in an Urban Core neighborhood that is primarily renter-occupied. The share of housing units that are renter-occupied ranks 17th out of 621 metro neighborhoods and is in the 99th percentile nationally, indicating a deep tenant base and potential leasing stability for multifamily operators.
Neighborhood occupancy is competitive on a national basis (72nd percentile), supporting income consistency for stabilized assets. Median home values in the area are elevated at the neighborhood level ($599,000), and the value-to-income ratio trends high (92nd percentile nationally), which typically sustains reliance on rental housing and can support pricing power when managed thoughtfully.
Amenity access is mixed. Cafe and childcare densities are strong (both well above national norms), while grocery, park, and pharmacy counts are limited within the immediate neighborhood. For operators, this can translate into residents prioritizing on-site conveniences and nearby arterial access for daily needs.
Demographic statistics aggregated within a 3-mile radius show modest population growth with a larger increase in households over the past five years and a further increase projected by 2028. Rising median household incomes in the 3-mile area, alongside forecast rent growth, point to a larger renter pool over time; however, rent-to-income ratios at the neighborhood level are elevated, signaling retention and renewal strategies should balance revenue goals with affordability pressure.
The asset’s 1977 construction is slightly older than the neighborhood average (1980), suggesting pragmatic capital planning and selective value-add upgrades could improve competitiveness versus newer stock while addressing aging systems.
Safety should be evaluated with care. The neighborhood ranks 507th out of 621 San Diego metro neighborhoods for crime, placing it below the metro average and in the lower national percentiles for safety. This suggests investors should underwrite appropriate security measures and resident-engagement practices typical for Urban Core submarkets.
Recent trend data indicates property and violent offense measures have shown mixed movement year over year at the neighborhood level. Framing this comparatively rather than block by block, the area trails safer San Diego submarkets but can remain operable with proactive management, lighting, and coordination with local resources.
Proximity to major employers supports commuter convenience and multifamily demand, particularly for workforce and professional tenants. Nearby employment nodes include defense/aerospace, food distribution, utilities, and technology.
- L-3 Telemetry & RF Products — defense & aerospace offices (10.9 miles)
- Sysco — food distribution (11.6 miles)
- Sempra Energy — utilities (13.3 miles) — HQ
- Qualcomm — technology (16.0 miles) — HQ
- Celgene Corporation — biotechnology (16.5 miles)
This 41-unit, 1977-vintage asset offers a value-add angle in a renter-heavy Urban Core neighborhood where national-percentile occupancy is solid and household growth in the surrounding 3-mile radius supports a larger tenant base over time. Elevated neighborhood home values and ownership costs help sustain multifamily reliance, while selective renovations and operational focus can position the property competitively against newer stock.
Based on CRE market data from WDSuite, the neighborhood’s renter concentration and nationally strong occupancy underpin income stability, but underwriting should account for affordability pressure and measured safety positioning relative to other San Diego submarkets. Nearby employment clusters in technology, utilities, aerospace, and distribution enhance leasing depth and retention prospects.
- Deep renter-occupied share at the neighborhood level supports leasing depth and occupancy stability.
- 1977 vintage presents practical value-add and system-upgrade opportunities to lift rents and durability.
- Elevated neighborhood home values reinforce reliance on rentals, supporting pricing power with disciplined lease management.
- Access to major employers (technology, utilities, aerospace, distribution) underpins commuter demand and retention.
- Key risks: affordability pressure and below-metro-average safety warrant conservative underwriting and active property management.