| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 553 S Magnolia Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1976 |
| Units | 63 |
| Transaction Date | 1996-12-12 |
| Transaction Price | $75,000 |
| Buyer | WERMERS JAMES L |
| Seller | CAPITOL PROPERTIES LTD IV |
553 S Magnolia Ave El Cajon Multifamily Investment
This 63-unit property built in 1976 benefits from neighborhood-level occupancy at 94.4% and strong rental demand driven by a 78.6% renter-occupied housing stock, according to CRE market data from WDSuite.
This El Cajon neighborhood demonstrates solid fundamentals for multifamily investment, with occupancy rates of 94.4% and a housing stock that is 78.6% renter-occupied. The area ranks in the top quartile nationally for rental tenure share among 621 metro neighborhoods, indicating strong structural demand for rental housing. Median contract rents of $1,655 have grown 45.3% over five years, outpacing many comparable markets.
Demographics within a 3-mile radius show a stable tenant base of approximately 143,254 residents, with household income growth of 31.6% over five years to a median of $80,677. The area maintains competitive amenity density, ranking in the 93rd percentile nationally for grocery stores and pharmacies per square mile, which supports tenant retention through convenience and walkability.
The neighborhood's 1975 average construction year aligns with this property's 1976 vintage, indicating consistent building stock that may present value-add opportunities through selective renovations and unit upgrades. With 900-square-foot average unit sizes, the property offers attractive space efficiency in a market where rental demand fundamentals remain strong.
The neighborhood's safety profile shows mixed indicators relative to the broader San Diego metro area. Property crime rates rank in the lower half among 621 metro neighborhoods, though recent trends show a 7.7% decline in property offenses year-over-year. Violent crime rates place the area below metro averages, with investors typically focusing on broader security measures and property management protocols to maintain tenant retention in urban core locations.
The surrounding employment base includes major corporate offices and headquarters that support workforce housing demand, with several significant employers within commuting distance of the property.
- L-3 Telemetry & RF Products — defense technology (10.4 miles)
- Sysco — food distribution (11.5 miles)
- Sempra Energy — utilities HQ (12.7 miles)
- Qualcomm — technology HQ (15.5 miles)
This 63-unit property presents a compelling value-add opportunity in a neighborhood with demonstrated rental demand fundamentals. The 94.4% occupancy rate and 78.6% renter tenure share provide stability, while the 1976 construction year offers renovation upside potential to capture higher rents. Demographics show household income growth of 31.6% over five years, supporting rent growth capacity, and the area's 99th percentile ranking for rental housing share nationally indicates structural demand depth.
Commercial real estate analysis from WDSuite shows the neighborhood generating average NOI per unit of $8,188, ranking in the 68th percentile nationally. Five-year demographic projections indicate continued household formation and income growth, with median household income forecast to reach $104,545 by 2028. The property's average 900-square-foot unit size provides efficient space utilization in a market where rental fundamentals remain supported by employment diversity and limited ownership alternatives.
- Strong occupancy at 94.4% with top-quartile rental tenure share nationally
- Value-add potential through 1976 vintage renovation and unit upgrades
- Household income growth of 31.6% supporting rent advancement capacity
- Risk: Below-average safety metrics require enhanced property management protocols