| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 26th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 948 S Sunshine Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 20 |
| Transaction Date | 2019-07-03 |
| Transaction Price | $7,834,000 |
| Buyer | BB SUNSHINE LLC |
| Seller | EL CAJON INVESTOR 1 LLC |
948 S Sunshine Ave, El Cajon Multifamily Investment
Neighborhood-level data points to strong renter demand and full occupancy across nearby assets, according to WDSuite’s CRE market data, supporting screening for stable cash flow in El Cajon. The property’s older vintage suggests value-add potential where renovations can sharpen competitiveness against 1980s-era stock in the area.
Livability and demand indicators around 948 S Sunshine Ave are favorable for workforce-oriented multifamily. The surrounding neighborhood reports full occupancy at the neighborhood level (not the property), and a high share of renter-occupied housing units, signaling depth in the tenant base and potential lease-up resilience. Median contract rents in the neighborhood track above many U.S. areas, while the rent-to-income profile suggests some affordability pressure that owners should manage through prudent renewals and unit-mix strategy.
Daily-needs access is a relative strength: grocery and pharmacy density rank in the upper percentiles nationally, while restaurant options are competitive for the metro. In contrast, parks and cafes are comparatively limited locally, which may modestly influence resident lifestyle preferences but typically has less impact on core occupancy stability than proximity to employment and essentials.
Within a 3-mile radius, demographics show a larger tenant pool today than five years ago, with increases in population and households, and forecasts indicating continued household growth even as average household size trends smaller. This pattern tends to broaden the renter pool and can support occupancy stability and renewal capture for well-positioned assets.
Ownership costs in the area are elevated relative to many U.S. neighborhoods, a dynamic that generally sustains reliance on rental housing and can support pricing power when paired with competitive unit finishes. Based on CRE market data from WDSuite, neighborhood housing fundamentals rate above the metro median, and average NOI per unit is competitive among San Diego neighborhoods, reinforcing the case for durable demand.
Safety indicators for the neighborhood are below the national median, reflecting higher crime rates than many U.S. neighborhoods. That said, both violent and property offense rates have declined over the last year, pointing to an improving trend. Investors should underwrite with appropriate security, lighting, and property management practices, and benchmark performance against submarket peers rather than block-level assumptions.
In metro context, the area performs weaker than many San Diego neighborhoods on safety but shows year-over-year improvement. Comparative framing and trend monitoring are recommended during hold, with attention to resident experience and retention.
Proximity to diversified employers supports renter demand and commute convenience, notably in defense & aerospace, food distribution, utilities, wireless/semiconductors, and biotech. The employers below represent realistic commute sheds for the neighborhood.
- L-3 Telemetry & RF Products — defense & aerospace (10.3 miles)
- Sysco — food distribution (11.8 miles)
- Sempra Energy — utilities (12.4 miles) — HQ
- Qualcomm — wireless & semiconductors (15.6 miles) — HQ
- Celgene Corporation — biotech (16.0 miles)
948 S Sunshine Ave offers a 1972 vintage in a renter-heavy El Cajon neighborhood, presenting a straightforward value-add or targeted CapEx thesis. Neighborhood occupancy is strong at the area level (not the property), and elevated ownership costs in San Diego County tend to reinforce multifamily reliance, which can support pricing power for well-maintained units. According to CRE market data from WDSuite, daily-needs accessibility is a relative strength, while limited park and cafe density has a smaller bearing on core leasing outcomes.
Investor focus points include modernizing interiors and systems typical for 1970s product, calibrating renewals to manage rent-to-income pressure, and leveraging proximity to diversified employment nodes. Safety trends are improving but remain below national medians, warranting active management and resident-experience investments.
- Renter-occupied concentration and full neighborhood occupancy support demand depth and lease stability
- 1972 vintage enables value-add through interior upgrades and system improvements
- Strong access to daily needs and major employers underpins retention and renewal capture
- High-cost ownership market can sustain renter reliance and pricing power for competitive units
- Risks: below-median safety and rent-to-income pressure require careful lease and CapEx management