| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 76th | Fair |
| Demographics | 21st | Poor |
| Amenities | 63rd | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 707 Graves Ave, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 52 |
| Transaction Date | 2002-12-06 |
| Transaction Price | $4,435,000 |
| Buyer | MELUCCI ROBERT J |
| Seller | 135 ROANOKE PARTNERSHIP LP |
707 Graves Ave El Cajon 52-Unit Multifamily
Renter-occupied housing is prevalent in the surrounding neighborhood and occupancy trends sit near the metro middle, supporting steady tenant demand according to WDSuite’s CRE market data.
Located in El Cajon within the San Diego metro, the neighborhood carries a C+ rating and ranks 401 out of 621 metro neighborhoods, placing it below the metro median but competitive among working-class submarkets. Grocery and pharmacy access score in the top quartile nationally, while restaurants are also strong relative to U.S. peers. By contrast, parks and cafes are limited, which can modestly temper lifestyle appeal.
With an average neighborhood construction year of 1981, this property’s 1977 vintage is slightly older than nearby stock. For investors, that often points to targeted capital planning and potential value-add through common-area refreshes, unit upgrades, or system modernization to improve competitive positioning against newer assets.
Tenant base depth is a notable strength. The neighborhood shows a high share of renter-occupied housing units, indicating a sizable pool of multifamily demand. Within a 3-mile radius, demographics show modest population growth alongside a projected increase in households by 2028, which supports a larger tenant base and leasing stability for well-positioned properties.
Housing costs in the area are elevated versus national norms, and home values sit well above the U.S. median. In high-cost ownership markets, multifamily communities can benefit from sustained renter reliance, aiding retention and occupancy. At the same time, rent-to-income levels imply some affordability pressure, suggesting that disciplined lease management and amenity-right pricing are important for minimizing turnover risk.
Operationally, neighborhood occupancy is around the national median, while housing fundamentals and amenity access (notably groceries, pharmacies, and restaurants) compare favorably to many U.S. neighborhoods. School ratings are weaker relative to national peers, which may influence tenant mix and marketing strategy more toward workforce and adult households than family-driven demand.
Safety indicators trend weaker than the metro average, with the neighborhood ranking 558 out of 621 San Diego metro neighborhoods—firmly in the lower tier locally. Nationally, the area falls in lower safety percentiles, signaling that investors should underwrite with prudent security and operational plans.
Recent estimates indicate property and violent offense measures are in low national percentiles, and year-over-year changes have moved higher. For investors, this points to the importance of lighting, access controls, and partnership with professional management to support resident experience and retention. Comparisons should be made against submarket peers to calibrate expectations and costs appropriately.
Nearby employers span defense/aerospace, food distribution, energy utilities, wireless technology, and biotechnology—diverse industries that can support renter demand and retention through commute convenience for a broad workforce.
- L-3 Telemetry & RF Products — defense & aerospace offices (10.3 miles)
- Sysco — food distribution (10.6 miles)
- Sempra Energy — energy utilities (13.2 miles) — HQ
- Qualcomm — wireless technology (15.2 miles) — HQ
- Celgene Corporation — biotechnology (15.8 miles)
707 Graves Ave offers scale at 52 units with a 1977 construction year, positioning it for targeted value-add upgrades to compete against slightly newer neighborhood stock. Based on CRE market data from WDSuite, the surrounding neighborhood maintains occupancy near the national middle and a high share of renter-occupied housing, providing depth to the tenant base. Elevated ownership costs in the area tend to sustain rental demand, while strong access to daily needs (groceries, pharmacies, restaurants) enhances livability for workforce renters.
Within a 3-mile radius, demographics point to modest population growth and a projected increase in households by 2028, supporting renter pool expansion and lease-up resiliency for well-managed assets. Key underwriting considerations include measured rent-to-income levels and below-metro-average safety indicators, both of which argue for thoughtful amenity positioning, security investment, and disciplined renewal strategies.
- 52-unit scale with 1977 vintage supports a clear value-add and systems modernization thesis
- High renter-occupied share and neighborhood occupancy near the national middle support demand stability
- Strong daily-needs access (groceries, pharmacies, restaurants) enhances renter convenience and retention
- 3-mile household growth outlook expands the tenant base through 2028
- Risks: lower relative safety and rent-to-income pressure call for prudent security and lease management