| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 75th | Fair |
| Demographics | 19th | Poor |
| Amenities | 79th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 633 S Johnson Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1978 |
| Units | 50 |
| Transaction Date | 1996-04-05 |
| Transaction Price | $875,000 |
| Buyer | FIDELITY FEDERAL BANK |
| Seller | INCOME GROWTH PARTNERS LTD III |
633 S Johnson Ave El Cajon Multifamily Investment
This 50-unit property operates in a neighborhood where nearly 79% of housing units are renter-occupied, reflecting strong rental market demand. According to CRE market data from WDSuite, the area maintains 94.4% occupancy rates, supporting stable cash flow fundamentals.
This El Cajon neighborhood demonstrates strong rental market fundamentals with 78.6% of housing units occupied by renters, ranking in the top quartile nationally among rental markets. The area maintains a 94.4% occupancy rate, indicating healthy demand-supply balance for multifamily properties. Median rents of $1,655 reflect moderate pricing relative to San Diego County standards.
Built in 1978, this property aligns with the neighborhood's average construction year of 1975, suggesting consistent building stock that may present value-add renovation opportunities for investors focused on modernization and rent optimization. The area's demographics within a 3-mile radius show 142,555 residents with median household income of $80,833, supporting rental demand sustainability.
The neighborhood offers strong amenity density with 3.89 grocery stores per square mile and 25.29 restaurants per square mile, both ranking in the top quartile nationally. This retail infrastructure supports tenant retention and lease-up velocity. Childcare availability at 3.89 facilities per square mile ranks in the 98th percentile nationally, appealing to family renters who comprise a significant portion of the area's household composition.
Population projections through 2028 indicate modest growth to 143,503 residents, with household formation expected to increase 26.9% as demographic trends favor continued rental demand. Median household income is forecast to rise 32% to $106,708, potentially supporting rent growth while maintaining affordability for the existing tenant base.
Property crime rates in this neighborhood rank 373rd among 621 San Diego metro neighborhoods, placing it in the middle tier for property crime incidents. The area has experienced a 7.7% decline in property crime over the past year, indicating improving security trends that support tenant retention and property values.
Violent crime rates rank 453rd among metro neighborhoods, with incidents increasing 25.3% year-over-year. While this trend requires monitoring, the overall crime profile remains within typical urban core parameters for the San Diego market. Investors should factor standard security measures and tenant screening protocols into operational planning.
The property benefits from proximity to major San Diego employers, with defense contractor L-3 Telemetry and distribution giant Sysco providing workforce housing demand within commutable distance.
- L-3 Telemetry & RF Products — defense & aerospace (9.9 miles)
- Sysco — food distribution (11.3 miles)
- Sempra Energy — utilities HQ (12.2 miles)
- Qualcomm — technology HQ (15.1 miles)
This 50-unit property presents stable cash flow potential in a rental-dominant neighborhood where 78.6% of units are renter-occupied, ranking in the top quartile nationally. The 1978 construction year offers value-add renovation opportunities to capture rent premiums while benefiting from the area's 94.4% occupancy rate. Demographics within 3 miles show household income growth of 32.3% over five years, supporting rental demand sustainability.
Commercial real estate analysis from WDSuite indicates the neighborhood generates $8,188 in average NOI per unit, ranking in the 68th percentile among metro comparables. Projected household formation of 26.9% through 2028 and median rent forecasts reaching $2,291 suggest continued rental market strength, though investors should monitor rent-to-income ratios that currently rank in the bottom quartile nationally.
- High rental tenure at 78.6% supports stable occupancy and cash flow
- 1978 vintage offers value-add renovation upside potential
- Projected 26.9% household growth through 2028 expands tenant base
- Proximity to major employers including Qualcomm and Sempra Energy
- Risk: Rent-to-income ratios in bottom quartile may limit pricing power