| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 26th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 921 S Sunshine Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1978 |
| Units | 26 |
| Transaction Date | 2009-11-09 |
| Transaction Price | $2,922,764 |
| Buyer | EXETER 9132 DE LLC |
| Seller | JACOBA SUNSHINE LLC |
921 S Sunshine Ave, El Cajon CA Multifamily Investment
Neighborhood occupancy is at the top of the metro with a high share of renter-occupied housing, pointing to a deep tenant base, according to WDSuite’s CRE market data.
Located in El Cajon within the San Diego metro, the immediate neighborhood is rated B- and shows investor-friendly demand signals. Neighborhood occupancy ranks first among 621 metro neighborhoods and sits in the top percentile nationally, indicating strong leasing stability at the area level rather than at this specific property. Renter-occupied share is also elevated (competitive among San Diego neighborhoods and well above national norms), supporting depth for workforce and market-rate units.
Daily-needs access is a relative strength: grocery and pharmacy density rank in the top quartile among 621 metro neighborhoods and score high nationally, which helps retention and convenience for residents. By contrast, café and park density are limited in this micro-area, so lifestyle amenities may rely on short drives to adjacent submarkets.
Home values in the neighborhood are elevated versus typical U.S. areas, and the value-to-income ratio sits near the top of national comparisons. This high-cost ownership context generally sustains rental reliance and can support pricing power when managed carefully. Median contract rents track above national medians, reinforcing the need for active lease management and renewal strategies.
Within a 3-mile radius, recent years show modest population growth with a larger increase in households and a slight downshift in household size, expanding the renter pool over time. Forward-looking data points to continued growth in households even if population trends are flatter, which supports occupancy stability and steady leasing demand. Neighborhood NOI per unit benchmarks trend above national medians, according to WDSuite’s commercial real estate analysis.
Safety conditions in the neighborhood are mixed. Relative to U.S. neighborhoods, both violent and property incident rates sit below national safety percentiles, indicating a more challenging baseline. However, recent year-over-year trends show declines in both categories, suggesting gradual improvement. Within the San Diego metro, the area ranks competitive among 621 neighborhoods, underscoring that local context matters when assessing operating risk and resident retention.
Investors should underwrite standard security measures and lighting, and consider tenant communication practices. Trend direction is improving, but prudent assumptions remain warranted when modeling turnover and collections.
Proximity to diversified employers supports commute convenience and leasing durability, notably in aerospace/defense, food distribution, energy utilities, wireless technology, and biotech—each represented within typical commuting distance.
- L-3 Telemetry & RF Products — defense & aerospace offices (10.3 miles)
- Sysco — food distribution (11.8 miles)
- Sempra Energy — energy utilities (12.4 miles) — HQ
- Qualcomm — wireless technology (15.6 miles) — HQ
- Celgene Corporation — biotech (16.1 miles)
This 1978-vintage, 26-unit asset sits in a neighborhood with top-of-metro occupancy and an above-average renter concentration, signaling durable demand and leasing stability. Elevated home values and a high value-to-income environment reinforce reliance on rental housing, while median asking rents above national norms require disciplined renewal and affordability management. Based on CRE market data from WDSuite, neighborhood-level NOI per unit benchmarks trail only stronger coastal submarkets, and daily-needs access (grocery and pharmacy) supports resident retention even if parks and cafés are less dense nearby.
Within a 3-mile radius, recent household growth and a gradual reduction in household size point to a larger tenant base over time, supporting occupancy. The 1978 construction suggests modest value-add potential and ongoing capital planning for systems and interiors to stay competitive against newer stock. Key underwriting considerations include affordability pressure (rent-to-income) and measured assumptions on rent growth given safety and amenity trade-offs.
- Neighborhood occupancy ranks at the top of the metro and supports stable leasing
- Elevated home values and high ownership costs sustain renter reliance and pricing power
- Household growth within 3 miles expands the renter pool and supports retention
- 1978 vintage offers value-add and CapEx planning opportunities to enhance competitiveness
- Risks: affordability pressure (rent-to-income), limited nearby parks/cafés, and conservative safety underwriting