| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 466 W Washington Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1974 |
| Units | 105 |
| Transaction Date | 1996-05-23 |
| Transaction Price | $2,800,000 |
| Buyer | 466 W WASHINGTON CA LP |
| Seller | 612 CEDAR GLEN LLC |
466 W Washington Ave El Cajon Multifamily Opportunity
Neighborhood occupancy is in the mid-90s and renter concentration is high, supporting a stable tenant base for a 100+ unit asset, according to WDSuite’s CRE market data. Positioning focuses on steady leasing fundamentals rather than outsized growth bets.
Situated in El Cajon within the San Diego-Chula Vista-Carlsbad metro, the neighborhood carries a B- rating and performs above the metro median on several renter-relevant factors. Occupancy for the neighborhood is 94.4%, placing it above many peer areas (67th percentile nationally), which supports day-to-day leasing stability and reduces downtime risk relative to weaker submarkets.
Renter-occupied share is 78.6% of housing units (ranked 21 out of 621 metro neighborhoods), indicating a deep renter pool and consistent demand for multifamily product. At the same time, the rent-to-income ratio skews higher, which suggests some affordability pressure that owners should manage through renewal strategy and amenity-value alignment rather than aggressive near-term pricing.
Local convenience is a relative strength: amenity access is competitive among San Diego-Chula Vista-Carlsbad neighborhoods (rank 55 of 621; 79th percentile nationally). Densities of restaurants, cafes, groceries, pharmacies, and childcare rank in the upper deciles nationally, reinforcing everyday livability that helps with retention and leasing velocity.
Within a 3-mile radius, demographics show modest population growth in recent years and a clear increase in households, with projections indicating further household gains over the next five years. This points to a gradual expansion of the renter pool, which can support occupancy stability even if individual household sizes trend slightly smaller over time.
Home values benchmark above national norms (78th percentile) in this area. A high-cost ownership market tends to sustain reliance on rental housing, which can underpin retention and limit competitive pressure from for-sale alternatives. Owners should still monitor rent-to-income dynamics to balance pricing power with lease management objectives.
Safety indicators are mixed and should be contextualized at the neighborhood level rather than the property. Relative to 621 metro neighborhoods, the area ranks below the metro median for safety, and national comparisons place it below average. In practical terms, investors should underwrite to market-appropriate security measures and resident engagement.
Recent trends diverge by category: estimated property offense rates improved year-over-year, while estimated violent offense rates increased. Monitoring directionality, coordinating with local resources, and aligning on-site measures with resident expectations can help maintain leasing performance despite these mixed signals.
The broader East County and central San Diego employment base supports commuter demand, with proximity to defense & aerospace, foodservice distribution, utilities, semiconductors, and biotech firms that help diversify the renter pool.
- L-3 Telemetry & RF Products — defense & aerospace (10.1 miles)
- Sysco — foodservice distribution (11.3 miles)
- Sempra Energy — utilities (12.4 miles) — HQ
- Qualcomm — semiconductors (15.3 miles) — HQ
- Celgene Corporation — biotech/pharma (15.7 miles)
This 100+ unit El Cajon asset benefits from a renter-heavy neighborhood and occupancy that trends above many peer areas, supporting day-to-day leasing stability. Amenity density is competitive in the metro and strong versus national benchmarks, which reinforces retention and helps drive steady absorption. Elevated ownership costs relative to income sustain reliance on rentals, though a higher rent-to-income ratio suggests disciplined renewal management. Based on CRE market data from WDSuite, neighborhood NOI per unit is competitive among San Diego-Chula Vista-Carlsbad neighborhoods, consistent with steady—but not speculative—income potential.
Within a 3-mile radius, recent population gains and a larger household count, alongside projections for continued household growth, point to a gradually expanding tenant base. That demand backdrop, plus proximity to diversified employment centers, underpins a durable leasing thesis while leaving room for targeted operational improvements.
- Renter-heavy neighborhood and mid-90s occupancy support baseline leasing stability
- Strong amenity access aids retention and reduces marketing downtime
- Expanding 3-mile household base indicates gradual renter pool growth
- Competitive neighborhood NOI per unit suggests steady income potential
- Risks: below-metro-average safety metrics and higher rent-to-income ratio warrant prudent lease management