| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 16th | Poor |
| Amenities | 82nd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 480 Jamacha Rd, El Cajon, CA, 92019, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 32 |
| Transaction Date | 2024-10-11 |
| Transaction Price | $9,100,000 |
| Buyer | HANNA THOMAS |
| Seller | WOODS APARTMENTS LLC |
480 Jamacha Rd El Cajon Multifamily Investment
This 32-unit property built in 1976 operates in a neighborhood with 94.3% occupancy rates and strong renter demand, with 59.4% of housing units occupied by renters according to CRE market data from WDSuite.
The property sits within an Urban Core neighborhood in El Cajon, ranking in the top quartile nationally for housing fundamentals among San Diego metro's 621 neighborhoods. The area maintains a 94.3% occupancy rate with 59.4% of housing units renter-occupied, ranking in the 93rd percentile nationally for rental share. Median contract rents of $1,824 reflect the 88th percentile nationally, indicating strong pricing power within the market.
Built in 1976, this property aligns with the neighborhood's 1985 average construction year, positioning it for potential value-add opportunities through strategic capital improvements. The area demonstrates solid rental demand fundamentals, with demographics aggregated within a 3-mile radius showing 52.8% of households as renters and median household income of $81,278.
Neighborhood amenities support tenant retention with excellent grocery store access ranking in the 99th percentile nationally and strong restaurant density in the 98th percentile. The area offers abundant childcare facilities ranking 2nd among metro neighborhoods, though cafe and pharmacy access is limited. Parks and recreational amenities rank in the 96th percentile nationally, contributing to livability factors that support occupancy stability.
Five-year demographic projections indicate continued rental market expansion, with forecasted household growth of 26.2% and renter-occupied units increasing to 54.5% of the housing stock. Median rents are projected to reach $2,321 by 2028, representing 35% growth that could benefit positioned multifamily assets in this submarket.
Property crime rates in this neighborhood rank 161st among 621 San Diego metro neighborhoods, placing it above the metro median for property offense incidents. The area shows modest improvement with property crime trending up only 0.2% year-over-year, indicating relative stability compared to regional patterns.
Violent crime rates present a different profile, ranking 443rd among metro neighborhoods with incidents at 409 per 100,000 residents. Investors should note the 56.1% year-over-year increase in violent offenses, though this places the neighborhood in the 25th percentile nationally for crime trend stability, suggesting monitoring of local security conditions may be warranted for tenant retention strategies.
The property benefits from proximity to major San Diego employers, with several corporate offices and headquarters within commuting distance supporting workforce housing demand.
- L-3 Telemetry & RF Products — defense technology (12.0 miles)
- Sysco — food service distribution (12.3 miles)
- Sempra Energy — utilities HQ (14.3 miles)
- Qualcomm — technology HQ (17.0 miles)
- Celgene Corporation — biotechnology (17.6 miles)
This 1976-built property offers value-add potential within a fundamentally sound rental market, with neighborhood occupancy at 94.3% and strong renter demand evidenced by 59.4% rental tenure. The Urban Core location provides access to essential amenities while maintaining competitive rent levels at $1,824 median, positioning the asset for both current cash flow and future appreciation as projected demographics support 35% rent growth through 2028.
Multifamily property research indicates solid workforce housing demand from nearby major employers including Qualcomm and Sempra Energy headquarters within commuting distance. The 32-unit scale allows for efficient management while the 1976 vintage creates opportunities for strategic capital improvements to capture upside in a market showing sustained rental demand growth.
- Strong occupancy fundamentals with 94.3% neighborhood rates and 59.4% renter tenure
- Value-add potential through strategic improvements to 1976 vintage asset
- Projected 35% rent growth and 26.2% household expansion through 2028
- Proximity to major San Diego employers supporting workforce housing demand
- Risk consideration: Monitor violent crime trends and capital expenditure requirements for older vintage