| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 939 E Washington Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1980 |
| Units | 21 |
| Transaction Date | 2019-09-18 |
| Transaction Price | $1,557,500 |
| Buyer | WILLOWS AT WASHINGTON LLC |
| Seller | KA EAST WASHINGTON LLC |
939 E Washington Ave El Cajon Multifamily Investment
Neighborhood-level occupancy around 95% and a very high share of renter-occupied units point to durable tenant demand, based on CRE market data from WDSuite. In a high-cost ownership pocket of San Diego County, rentals tend to retain households longer, supporting income stability.
The property sits in an Urban Core neighborhood of the San Diego–Chula Vista–Carlsbad metro with a C- neighborhood rating. According to WDSuite’s CRE market data, neighborhood occupancy is in the low-to-mid 90s, indicating steady renter absorption rather than lease-up volatility. Housing fundamentals rank 199 out of 621 metro neighborhoods, which is competitive among San Diego neighborhoods, suggesting relative strength versus many peers.
Renter concentration is high, with roughly four out of five housing units renter-occupied at the neighborhood level. For multifamily investors, that depth of renter households supports leasing velocity and renewals, though it also rewards active management and resident engagement to sustain retention.
Within a 3-mile radius, demographics show modest population growth over the last five years and a larger increase in households, with forecasts pointing to further household gains. This pattern typically reflects smaller household sizes and a gradually expanding tenant base, which can support occupancy stability and broaden the pool of prospective renters.
Local conveniences are mixed: cafes and childcare density perform well versus national peers (both in the top decile nationally), yet grocery, park, and pharmacy counts are thinner immediately nearby. For investors, this means day-to-day services are accessible but may require short drives, which can matter for resident satisfaction and renewal calculus.
Home values in the neighborhood sit in a higher national percentile, signaling a high-cost ownership market. That dynamic typically sustains rental demand and supports pricing power, while the neighborhood rent-to-income profile warrants balanced renewal strategies to manage affordability pressure and limit turnover risk.
Safety indicators should be viewed in context. The neighborhood’s crime rank is in the weaker tier of the metro (507 out of 621 San Diego–area neighborhoods), and national comparisons place it below the median for safety. Recent estimates also indicate year-over-year increases in violent offenses alongside a smaller rise in property offenses. Investors should underwrite with prudent assumptions for security, lighting, and common-area oversight, and monitor trendlines rather than single-year readings.
The area draws from a broad East/Central San Diego employment base, supporting commuter demand for workforce housing. Key nearby employers include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace (11.0 miles)
- Sysco — foodservice distribution (11.9 miles)
- Sempra Energy — utilities & energy (13.3 miles) — HQ
- Qualcomm — wireless & semiconductors (16.2 miles) — HQ
- Celgene — biopharma offices (16.7 miles)
This El Cajon asset benefits from a high neighborhood share of renter-occupied housing and occupancy near the mid-90s, pointing to resilient renter demand and predictable leasing. Elevated neighborhood home values reinforce renter reliance on multifamily housing, while 3-mile household growth — and forecasts for additional gains — suggest a gradually expanding tenant base. According to CRE market data from WDSuite, housing fundamentals here are competitive versus many San Diego neighborhoods, supporting a steady, operations-focused thesis.
Key considerations include managing rent-to-income affordability pressure to preserve renewals, and underwriting for a neighborhood safety profile that is weaker than the metro median. With thoughtful lease management and attention to resident experience, the property can compete effectively in its submarket context.
- High renter-occupied share supports deep tenant base and leasing stability
- Neighborhood occupancy around mid-90s aligns with steady cash flow potential
- High-cost ownership market sustains rental demand and pricing power
- 3-mile household growth and forecasts point to a larger renter pool
- Risks: affordability pressure (rent-to-income) and below-metro safety profile warrant proactive management