| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 26th | Poor |
| Amenities | 46th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 523 Hart Dr, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1991 |
| Units | 24 |
| Transaction Date | --- |
| Transaction Price | --- |
| Buyer | --- |
| Seller | --- |
523 Hart Dr, El Cajon Multifamily Investment
Neighborhood occupancy in the mid-90s and a deep renter base indicate durable demand and income stability, according to WDSuite’s CRE market data. Position within San Diego’s urban core supports leasing, with pricing power influenced by a high-cost ownership market.
Located in El Cajon’s urban core of the San Diego metro, the property benefits from neighborhood occupancy trending in the mid-90s, which sits above national norms and supports income durability for stabilized multifamily assets. The renter-occupied share is elevated locally, signaling a deep tenant pool that can underpin leasing velocity and renewal retention for well-managed communities.
Everyday convenience is strong: grocery and pharmacy access scores are competitive among San Diego neighborhoods, while restaurant density is also high. By contrast, nearby cafes, childcare centers, and parks are limited within the immediate neighborhood, so residents may travel to adjacent areas for those amenities.
Within a 3-mile radius, population has edged up recently and households have grown, with forecasts pointing to further household expansion over the next five years. This trajectory suggests a larger tenant base and supports occupancy stability, particularly for well-located workforce housing.
Ownership costs are elevated relative to incomes in the neighborhood context, which tends to sustain reliance on rental housing and supports pricing power for competitive product. At the same time, a higher rent-to-income ratio implies affordability pressure for some renters, making proactive lease management and renewal strategies important for operators.
The neighborhood s average construction year skews to the 1980s. With a 1991 vintage, this asset is newer than the local average, offering a relative competitive edge versus older stock, while still presenting selective modernization opportunities to enhance yield.
Safety indicators for the neighborhood trend below national averages, reflecting higher reported property and violent incidents compared with many areas nationwide. Recent year-over-year readings point to an uptick, so investors should underwrite security posture, lighting, access control, and resident engagement as part of operating plans.
Within the San Diego metro context, this positioning suggests above-average operating vigilance may be warranted relative to safer submarkets. Operators who implement targeted measures and coordinate with local resources often mitigate risk and support resident retention.
Proximity to diversified employers supports renter demand and commute convenience for the workforce tenant base, including food distribution, aerospace/defense, energy, life sciences, and technology. The following nearby employers help anchor the regional job base:
- Sysco — food distribution (10.3 miles)
- L-3 Telemetry & RF Products — defense & aerospace (10.4 miles)
- Sempra Energy — energy & utilities (13.6 miles) — HQ
- Qualcomm — semiconductors & wireless (15.1 miles) — HQ
- Celgene Corporation — biopharma (15.7 miles)
523 Hart Dr is a 24-unit, 1991-vintage community positioned within an urban core neighborhood where occupancy runs in the mid-90s and renter concentration is high. This combination points to a stable demand base with potential for steady leasing and renewals, while elevated ownership costs locally further reinforce reliance on multifamily housing. According to commercial real estate analysis from WDSuite, the area’s household growth within a 3-mile radius and robust access to daily-needs retail support ongoing renter demand.
The asset s vintage is newer than the neighborhood average, offering a competitive edge versus 1980s-era stock. Targeted modernization of interiors, building systems, and curb appeal may unlock value-add upside. Key underwriting considerations include neighborhood safety, the higher rent-to-income profile that can affect retention for cost-sensitive renters, and continued alignment with workforce demand anchored by nearby employers.
- Mid-90s neighborhood occupancy and deep renter base support income stability
- 1991 vintage is newer than local average, with targeted value-add potential
- Elevated ownership costs in the area bolster sustained multifamily demand
- Diverse regional employers within ~10–16 miles underpin workforce leasing
- Risks: below-average safety metrics and higher rent-to-income ratios require vigilant operations