| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 84th | Best |
| Demographics | 26th | Poor |
| Amenities | 58th | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 961 S Sunshine Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1978 |
| Units | 25 |
| Transaction Date | 2015-10-13 |
| Transaction Price | $3,200,000 |
| Buyer | 961 SOUTH SUNSHINE AVE LLC |
| Seller | SUNSHINE STREET PARTNERS LLC |
961 S Sunshine Ave El Cajon Multifamily Investment
This 25-unit property benefits from neighborhood-level occupancy at 100% and strong renter demand in a market where 65% of housing units are renter-occupied, according to CRE market data from WDSuite.
Located in El Cajon's urban core, this neighborhood demonstrates strong rental fundamentals with 65% of housing units occupied by renters, ranking in the top quartile nationally among 621 San Diego metro neighborhoods. The area maintains full occupancy at the neighborhood level, supported by robust renter demand in a market where ownership costs average $593,414 and reinforce renter reliance on multifamily housing.
Built in 1978, this property aligns with the neighborhood's average construction year of 1980, indicating consistent building stock that may present value-add renovation opportunities for investors focused on capital improvements. The immediate area benefits from strong grocery access with 7.36 stores per square mile, ranking in the top 2% nationally, while childcare availability ranks in the 89th percentile nationwide, supporting tenant retention among families.
Demographics within a 3-mile radius show a population of 147,147 with household incomes averaging $102,098, while median rents of $1,683 reflect 32% growth over five years. Projections indicate household income growth of 38% through 2028, with the median climbing to $107,631, supporting continued rental demand and potential for measured rent increases in this established multifamily market.
Safety metrics show mixed trends with property crime rates at 1,540 incidents per 100,000 residents, placing the neighborhood in the middle tier among San Diego metro areas. Violent crime rates of 244 incidents per 100,000 residents rank in the 17th percentile nationally, indicating room for improvement relative to other neighborhoods nationwide.
Recent trends show property crime declining 12% year-over-year and violent crime dropping 8%, suggesting improving conditions that may support tenant retention and leasing velocity. Investors should consider these metrics alongside the neighborhood's strong occupancy performance when evaluating long-term rental demand stability.
The San Diego employment corridor supports workforce housing demand with major corporate offices within commuting distance, including defense, technology, and energy sector employers that provide stable employment for potential tenants.
- L-3 Telemetry & RF Products — defense & aerospace (10.4 miles)
- Sysco — food distribution (11.8 miles)
- Sempra Energy — utilities (12.3 miles) — HQ
- Qualcomm — technology (15.6 miles) — HQ
- Celgene Corporation — biotechnology (16.1 miles)
This 25-unit property capitalizes on El Cajon's strong rental fundamentals, with neighborhood-level occupancy at 100% and 65% of local housing units occupied by renters. The 1978 construction year presents value-add opportunities through strategic renovations, while average unit sizes of 785 square feet align with regional demand patterns. Home values averaging $593,414 reinforce rental demand by keeping ownership costs elevated relative to household incomes.
Demographic projections within a 3-mile radius support continued multifamily demand, with household income growth of 38% projected through 2028 and renter pool expansion indicated by forecast household formation. According to multifamily property research from WDSuite, the neighborhood's amenity access ranks in the 58th percentile nationally, while grocery density ranks in the top 2%, supporting tenant retention and lease renewal rates.
- Full neighborhood occupancy with 65% renter-occupied units supporting demand
- Value-add potential from 1978 vintage allowing strategic renovations
- Household income growth of 38% projected through 2028
- Strong grocery access ranking in top 2% nationally supports retention
- Risk: Crime rates rank below national median requiring ongoing monitoring