| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 82nd | Best |
| Demographics | 50th | Fair |
| Amenities | 36th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 523 Grape St, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1972 |
| Units | 32 |
| Transaction Date | 1995-08-09 |
| Transaction Price | $1,250,000 |
| Buyer | PROMONTORY PROPERTIES |
| Seller | HATOUNIAN JACK |
523 Grape St, El Cajon CA Multifamily Investment
Stabilized renter demand and a high-cost ownership backdrop in the surrounding neighborhood support durable occupancy for this 32-unit asset, according to WDSuite’s CRE market data. Neighborhood metrics cited below reflect area conditions, not the property itself.
Located in suburban El Cajon within the San Diego metro, the neighborhood posts an occupancy rate of 96.4% (top quartile nationally), signaling steady leasing conditions at the area level rather than for this property specifically. Median rents in the neighborhood trend above national norms while remaining supported by incomes, suggesting manageable affordability pressure that can aid retention and reduce turnover risk.
The renter-occupied share of housing units in the neighborhood is 42.5% (above the national median), indicating a meaningful tenant base for multifamily operators. Within a 3-mile radius, recent growth in households and a projected increase through 2028 point to a larger tenant pool and demand for rental units; incomes are also advancing, which can help support rent levels and leasing stability.
Local amenities skew practical more than destination-driven: grocery access and parks score above national averages, while on-foot dining and cafe density are limited inside the immediate neighborhood. Families benefit from a relatively strong childcare presence. For residents, this mix favors day-to-day convenience, with broader dining and employment options reachable across the San Diego region.
Vintage matters: the average neighborhood construction year is 1982, whereas this property was built in 1972. The 1970s vintage typically implies near- to medium-term capital planning for building systems and interiors, but also creates clear value-add and modernization opportunities to enhance competitive positioning against newer stock.
Safety indicators for the neighborhood are mixed compared with regional and national benchmarks. Relative to 621 San Diego metro neighborhoods, the area s crime rank sits in the lower half, indicating higher reported incidents than many peer neighborhoods, while national comparisons place the area below the national average for safety.
Trend-wise, property-related offenses have shown year-over-year improvement in the neighborhood, which is a constructive signal for operators focused on resident retention. As always, investors should evaluate property-specific security measures and recent local trends alongside broader metro context.
Proximity to diversified employment nodes supports renter demand and commute convenience, with concentration in food distribution, defense & aerospace, energy utilities, wireless technology, and biotech. The employers listed are within a commutable radius and contribute to a stable workforce housing pool.
- Sysco food distribution (11.7 miles)
- L-3 Telemetry & RF Products defense & aerospace (12.0 miles)
- Sempra Energy energy utilities (14.7 miles) HQ
- Qualcomm wireless technology (16.8 miles) HQ
- Celgene Corporation biotech (17.4 miles)
523 Grape St is a 32-unit, 1972-vintage community positioned to benefit from neighborhood occupancy that sits in the top quartile nationally and a renter base reinforced by a high-cost ownership market. Based on commercial real estate analysis using CRE market data from WDSuite, elevated home values in the area help sustain reliance on rentals, while the neighborhood s renter-occupied share provides depth to the tenant pool.
The 1970s vintage suggests clear value-add potential through interior updates and system upgrades to compete with 1980s-and-newer stock. Within a 3-mile radius, households and incomes are rising and are projected to expand further, supporting occupancy stability and measured pricing power over the hold period. Operators should balance upside with targeted capex and thoughtful lease management given limited on-foot amenities and area-level safety metrics that trail national averages.
- Neighborhood occupancy is strong, supporting stable leasing conditions
- High ownership costs in the area reinforce multifamily renter demand
- 1972 vintage offers value-add and modernization upside versus newer stock
- 3-mile household and income growth expands the tenant base and supports retention
- Risks: limited immediate dining/retail density and below-average safety indicators require active asset management