| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 26th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 945 Estes St, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1976 |
| Units | 57 |
| Transaction Date | 2008-12-15 |
| Transaction Price | $3,975,535 |
| Buyer | CONTRERAS MICHAEL A |
| Seller | PROVIDENT SAVINGS BANK FSB |
945 Estes St, El Cajon CA Multifamily Investment
Neighborhood-level occupancy is exceptionally tight and renter demand is deep in this El Cajon urban core location, according to WDSuite’s CRE market data. Investors should view this as a durable, workforce-oriented submarket with stable leasing fundamentals rather than a short-term momentum play.
Situated in El Cajon’s Urban Core, the property benefits from strong day-to-day convenience: grocery access ranks among the highest in the metro and tests in a high national percentile, while pharmacies and childcare options also score well. By contrast, cafes and parks are limited locally, which may temper certain lifestyle appeal but does not typically impede workforce renter demand.
Neighborhood occupancy is at the top of the San Diego-Chula Vista-Carlsbad metro and in the upper tier nationally, based on CRE market data from WDSuite. This signals tight supply and supports lease-up and retention for well-positioned assets. The area’s renter concentration is roughly two-thirds of housing units being renter-occupied, indicating a broad tenant base and steady multifamily absorption potential rather than reliance on a small subset of households.
Within a 3-mile radius, recent trends show modest population growth and a larger increase in households, with projections pointing to further household expansion alongside slightly smaller average household sizes. For investors, that dynamic typically expands the renter pool and supports occupancy stability, even if headline population trends moderate.
Home values are elevated for the region and high on a national basis. In a high-cost ownership market, multifamily often benefits from sustained renter reliance, which can aid pricing power and reduce turnover risk. At the same time, rent-to-income levels indicate some affordability pressure, which calls for thoughtful lease management and amenity positioning to support retention.
Built in 1976, the property is slightly older than the neighborhood’s average vintage. That typically implies ongoing capital planning and value-add opportunities (exteriors, interiors, and systems) to remain competitive against newer stock while capturing durable demand in this renter-heavy micromarket.
Safety indicators benchmark below the national median for neighborhoods, but recent year-over-year trends show declines in both property and violent offense rates. This suggests some improvement versus prior periods, though investors should underwrite appropriate security measures and insurance, and compare to nearby San Diego submarkets for context.
Framing this at the portfolio level, the area’s leasing fundamentals are strong enough to offset perception risk in many workforce strategies, but prudent operations (lighting, access control, resident engagement) remain advisable as part of standard risk management.
The employment base features defense/aerospace, food distribution, utilities, and technology within a commutable radius—supporting steady renter demand and retention for workforce housing. Notable nearby employers include L-3 Telemetry & RF Products, Sysco, Sempra Energy, Qualcomm, and Celgene.
- L-3 Telemetry & RF Products — defense & aerospace (10.2 miles)
- Sysco — food distribution (11.7 miles)
- Sempra Energy — utilities (12.3 miles) — HQ
- Qualcomm — telecommunications & semiconductor (15.5 miles) — HQ
- Celgene Corporation — biotechnology offices (16.0 miles)
945 Estes St is a mid-sized, 57-unit asset in a renter-heavy pocket of El Cajon with top-tier neighborhood occupancy and strong daily-needs access. Elevated home values in the broader area sustain reliance on rental housing, while household growth within 3 miles expands the tenant base even as average household sizes edge down. According to CRE market data from WDSuite, the neighborhood’s leasing backdrop is competitive metro-wide, positioning well-managed assets for steady performance.
The 1976 vintage points to clear value-add and capital planning potential—upgrades can improve competitive positioning against newer stock and support rent durability. Investors should also account for affordability pressures in the submarket and maintain prudent security and operations given below-median safety benchmarks, balancing these risks against the depth of renter demand and occupancy stability.
- Renter-heavy neighborhood with tight occupancy supports stable leasing and retention
- High-cost ownership market reinforces multifamily demand and pricing power
- Daily-needs access (groceries, pharmacy, childcare) strengthens livability for workforce renters
- 1976 vintage offers value-add upside through targeted renovations and systems upgrades
- Risks: below-median safety benchmarks and rent-to-income pressures call for disciplined leasing and operations