| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 56th | Poor |
| Demographics | 30th | Poor |
| Amenities | 81st | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 632 S 1st St, El Cajon, CA, 92019, US |
| Region / Metro | El Cajon |
| Year of Construction | 1980 |
| Units | 35 |
| Transaction Date | 2021-08-26 |
| Transaction Price | $12,495,000 |
| Buyer | 606-632-640 SOUTH FIRST STREET LLC |
| Seller | MF PANDA NR OWNER CA LP |
632 S 1st St El Cajon Multifamily Investment
Neighborhood metrics point to strong renter demand and high occupancy, according to WDSuite’s CRE market data, with conditions that can support stabilized operations when managed for affordability and retention. These figures reflect the surrounding neighborhood, not the property itself.
Rated C+ within the San Diego–Chula Vista–Carlsbad metro, the neighborhood surrounding 632 S 1st St is competitive among 621 metro neighborhoods (ranked 367 of 621). Amenity access is a relative strength, with groceries, pharmacies, parks, and restaurants placing in high national percentiles, supporting day-to-day convenience that helps leasing and retention for workforce housing.
Occupancy in the neighborhood is high and above many U.S. areas (rank 190 of 621; top quartile nationally by percentile), and the share of renter-occupied housing units is notably elevated at the neighborhood level (rank 13 of 621; very high renter concentration). For investors, this indicates a deep tenant base and potential for durable demand, while still requiring attention to renewal strategy and customer service to sustain occupancy.
Within a 3-mile radius, population growth has been modest in recent years with households increasing, and forecasts point to additional household gains over the next five years. This trajectory suggests a gradual expansion of the renter pool that can support occupancy stability and steady leasing velocity. Median incomes in the 3-mile area sit well above many neighborhoods, which can underpin effective rent collection and depth of demand for quality units.
Vintage matters: the property’s 1980 construction is slightly newer than the neighborhood’s average vintage (1976). That positioning can be competitive against older stock, though investors should plan for targeted modernization of aging systems and common areas to meet current renter expectations.
Affordability warrants close monitoring. Neighborhood-level rent-to-income indicators signal higher affordability pressure, implying the need for disciplined lease management, value-focused amenities, and measured rent setting. School ratings in the area trend below the national median, which may lessen appeal to some family renters, and limited formal childcare density nearby suggests residents may rely on options outside the immediate blocks.
Safety trends should be evaluated carefully. The neighborhood’s crime rank is 600 out of 621 metro neighborhoods, indicating higher incident rates relative to much of the metro. Nationally, comparable property and violent offense measures place the area in low percentiles, signaling weaker safety performance versus many U.S. neighborhoods.
Recent year-over-year estimates point to increases in both property and violent offenses. For investors, the practical takeaway is enhanced asset and operations planning: lighting, access controls, and community engagement can help mitigate risk and support resident retention. Always assess block-by-block conditions during due diligence and track trend direction rather than relying on a single snapshot.
Proximity to diversified employers supports renter demand via commute convenience, particularly for aerospace/defense, food distribution, utilities, and technology. Notable nearby employers include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace offices (11.3 miles)
- Sysco — food distribution (11.9 miles)
- Sempra Energy — energy utilities (13.6 miles) — HQ
- Qualcomm — technology & R&D (16.4 miles) — HQ
- Celgene Corporation — biopharma offices (16.9 miles)
The investment case centers on resilient renter demand and high neighborhood occupancy, supported by strong amenity access and proximity to diversified employment. According to CRE market data from WDSuite, neighborhood occupancy trends rank favorably within the metro and sit in a high national percentile, reinforcing a foundation for stable leasing if affordability is managed. The 1980 vintage is slightly newer than the area norm, suggesting competitive positioning versus older stock while still benefiting from targeted renovations that can create value and support rent premiums.
Within a 3-mile radius, modest population growth alongside an increase in households points to a gradually expanding tenant base, with income levels that can support quality workforce housing. Offsetting considerations include elevated neighborhood renter concentration (helpful for depth of demand but susceptible to economic swings), measured school quality, and safety indicators that require proactive property management. Affordability pressure at the neighborhood level also argues for careful renewal management and service-driven retention strategies.
- High neighborhood occupancy and deep renter concentration support demand stability
- 1980 construction offers light value-add and systems modernization potential versus older local stock
- Amenity-rich area with access to groceries, pharmacies, parks, and restaurants aids leasing and retention
- Diverse employment nodes within commuting range underpin workforce renter demand
- Risks: affordability pressure, below-median school ratings, and elevated crime require active management