| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 69th | Poor |
| Demographics | 42nd | Poor |
| Amenities | 11th | Poor |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 565 W Chase Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 23 |
| Transaction Date | 2024-06-07 |
| Transaction Price | $6,325,000 |
| Buyer | CHASE AVENUE APARTMENTS LLC |
| Seller | RLV INVESTMENTS LLC |
565 W Chase Ave El Cajon Multifamily Investment
Elevated ownership costs in El Cajon reinforce renter reliance on multifamily housing, according to WDSuite’s CRE market data. Location fundamentals and a durable tenant base support steady operations for a 23-unit asset with value-add angles.
Located in suburban El Cajon within the San Diego metro, the property sits in a neighborhood characterized by a high-cost ownership market and stable demand for rentals. Median home values in the area are elevated versus national norms, which typically sustains renter demand and supports lease retention for well-managed assets.
Construction vintage for nearby stock averages mid-1970s, and this property’s 1977 build is slightly newer than the area norm. That positioning can be competitive against older product while still calling for targeted modernization and systems upgrades to protect NOI and reduce near-term CapEx surprises.
Within a 3-mile radius, demographics show modest population growth over the past five years alongside an increase in households and a renter-occupied share around half of units. This mix points to a broad tenant base and supports occupancy stability; forward estimates indicate more households even as average household size trends lower, which can add depth to the renter pool.
Local amenities skew light at the block level, with grocery access present but limited sit-down dining, cafes, parks, and childcare within the immediate neighborhood. Compared with San Diego’s 621 neighborhoods, this area tracks below the metro median on amenity density, yet regional employment access and metro-scale retail nodes remain reachable by car, which helps sustain renter appeal.
Safety indicators for the neighborhood trend weaker than national averages and sit below the metro median among San Diego’s 621 neighborhoods, based on WDSuite’s CRE market data. Property crime levels are elevated relative to national comparisons, though recent year readings show improvement, while violent crime remains a watch item.
For investors, this typically translates to prudent operational planning: lighting, access control, and resident engagement programs that support retention and mitigate risk. Framing performance against the metro rather than block-level readings is appropriate for underwriting and lender discussions.
Proximity to diversified employers underpins renter demand, with access to aerospace/defense electronics, food distribution, energy utilities, wireless/semiconductors, and biopharma — supporting workforce housing dynamics and commute convenience.
- L-3 Telemetry & RF Products — defense & aerospace electronics (10.2 miles)
- Sysco — food distribution (11.9 miles)
- Sempra Energy — energy utilities (12.1 miles) — HQ
- Qualcomm — wireless & semiconductors (15.5 miles) — HQ
- Celgene Corporation — biopharma (16.0 miles)
565 W Chase Ave offers a 1977-vintage, 23‑unit footprint in a San Diego suburban location where elevated ownership costs help sustain multifamily demand and retention. Within a 3‑mile radius, household counts have increased and the renter pool represents a substantial share of occupied units, supporting leasing depth even as household sizes trend smaller.
The asset’s slightly newer-than-neighborhood vintage creates a practical value‑add path: unit/interior updates and system modernization to sharpen competitiveness against older stock while managing CapEx. According to CRE market data from WDSuite, neighborhood amenity density is lighter and safety metrics track below metro medians, which argues for conservative underwriting assumptions and active property management to maintain occupancy and pricing power.
- High-cost ownership market supports durable renter demand and lease retention.
- 1977 vintage with clear value‑add and systems‑upgrade opportunities to enhance NOI.
- 3‑mile radius shows increasing households and a broad renter base, aiding occupancy stability.
- Regional employment access to defense, utilities, wireless, and biopharma supports tenant depth.
- Risks: lighter neighborhood amenities and below‑median safety metrics require proactive management and conservative underwriting.