| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 458 Ballantyne St, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1979 |
| Units | 24 |
| Transaction Date | 2023-07-27 |
| Transaction Price | $6,000,000 |
| Buyer | 7 MENDRIDGE LLC |
| Seller | DECLARATION OF TRUST |
458 Ballantyne St El Cajon Multifamily Investment
This 24-unit property benefits from strong renter demand in a neighborhood where 64% of housing units are renter-occupied. According to CRE market data from WDSuite, the area maintains competitive rental fundamentals with significant household growth projected through 2028.
The neighborhood ranks in the top quartile nationally for renter concentration, with 64% of housing units occupied by renters compared to the San Diego metro average. Built in 1979, this property aligns with the neighborhood's average construction year of 1981, indicating consistent building stock that may present value-add renovation opportunities for investors focused on modernization.
Demographics within a 3-mile radius show stable fundamentals with population growth of 0.5% over the past five years and projected growth of 2.3% through 2028. Household formation is expected to increase by 25.5% over the next five years, expanding the potential renter pool. Median household income has grown 68% since 2018 to approximately $100,000, while median rent has increased 29% to $1,645, supporting pricing power for well-positioned properties.
The neighborhood demonstrates strong amenity density with grocery stores ranking in the 98th percentile nationally at 6.88 stores per square mile, and childcare facilities ranking in the 94th percentile at 2.29 per square mile. Restaurant density also performs well at 13.77 per square mile, ranking in the 94th percentile nationally. These amenities support tenant retention by providing convenient access to daily necessities.
Current neighborhood-level occupancy stands at 91.5%, though this has declined 5.2% over the past five years, requiring attention to lease management and potential concessions. Median contract rent in the immediate neighborhood is $1,585, with 36.6% growth over five years, indicating strong rental appreciation trends that benefit cash flow stability.
Crime metrics require careful consideration for this neighborhood. Property crime rates rank 542nd among 621 San Diego metro neighborhoods, placing it in the lower quartile for safety performance. The estimated property offense rate is 3,606 incidents per 100,000 residents annually, with a 16.6% increase over the past year.
Violent crime shows similar patterns, with the neighborhood ranking 529th out of 621 metro neighborhoods and a rate of 690 incidents per 100,000 residents. While crime trends have increased 16.2% year-over-year, investors should evaluate this against broader metro patterns and consider security improvements as part of property management strategy.
The employment base features major corporate offices within commuting distance, supporting workforce housing demand in the area.
- L-3 Telemetry & RF Products — defense & aerospace (10.4 miles)
- Sysco — food distribution (10.9 miles)
- Sempra Energy — utilities HQ (13.2 miles)
- Qualcomm — technology HQ (15.3 miles)
- Celgene Corporation — biotechnology (15.9 miles)
This 24-unit property built in 1979 offers value-add potential through strategic renovations in a neighborhood with strong renter demand fundamentals. The area maintains 64% renter occupancy, ranking in the top quartile nationally, while demographic projections show household growth of 25.5% through 2028, expanding the tenant base. Median rent growth of 29% over five years demonstrates pricing power, though current neighborhood occupancy of 91.5% requires active lease management.
The 760-square-foot average unit size aligns with regional demand patterns, while proximity to major employers including Qualcomm and Sempra Energy supports workforce housing appeal. Commercial real estate analysis indicates strong amenity density with grocery and childcare facilities ranking in the 98th percentile nationally, supporting tenant retention and reducing turnover costs.
- Strong renter demand with 64% of neighborhood units renter-occupied
- Projected 25.5% household growth through 2028 expanding tenant pool
- Value-add renovation opportunity with 1979 construction vintage
- Proximity to major employers including Qualcomm and Sempra Energy headquarters
- Crime trends and occupancy decline require active management attention