| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 80th | Good |
| Demographics | 35th | Poor |
| Amenities | 61st | Good |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 992 Greenfield Dr, El Cajon, CA, 92021, US |
| Region / Metro | El Cajon |
| Year of Construction | 1987 |
| Units | 71 |
| Transaction Date | 2001-02-14 |
| Transaction Price | $122,000 |
| Buyer | UHL JOHN L |
| Seller | JOHNSON T ELAINE |
992 Greenfield Dr El Cajon Multifamily Opportunity
High neighborhood occupancy and a sizable renter-occupied base suggest durable leasing fundamentals, according to WDSuite s CRE market data.
Positioned in El Cajon within the San Diego metro, the neighborhood posts a B- rating and ranks 300 out of 621 metro neighborhoods, indicating performance around the metro median. Neighborhood occupancy is strong at 98.3% (measured for the neighborhood, not the property) and sits in the top decile nationally, supporting expectations for leasing stability in typical cycles.
Renter-occupied housing accounts for roughly two-thirds of units in the neighborhood (66.8% renter concentration), signaling a deep tenant base for multifamily. Within a 3-mile radius, households grew over the past five years with further household gains forecast through 2028, which points to a larger tenant pool and supports sustained demand for rental units.
Everyday amenities are competitive: grocery and pharmacy access score in the upper national percentiles, and restaurants are prevalent, while parks and cafes are comparatively limited. Median neighborhood contract rents track above national medians, and the local rent-to-income ratio reads as manageable in context, implying room for disciplined pricing while maintaining retention.
Ownership costs are elevated versus national norms, with home values and value-to-income ratios in high national percentiles. For investors, this high-cost ownership market tends to reinforce reliance on rental housing, supporting occupancy stability and lease duration, particularly for well-managed assets.
The asset s 1987 construction is newer than the neighborhood s average 1979 vintage, generally competitive against older stock. Investors should still plan for modernization of systems and common areas to sustain positioning versus newer deliveries.
Safety indicators for the neighborhood trend below metro averages: the area ranks 444 out of 621 metro neighborhoods and falls in lower national percentiles for both property and violent offenses. Year-over-year estimates indicate a recent uptick in violent and property incidents. Investors typically account for this with pragmatic measures such as lighting, access control, and partnership with local patrols, and by underwriting slightly higher operating allowances where appropriate.
As with all sub-neighborhood analyses, crime statistics are area-wide and not specific to the property; trends can vary block to block and over time. Comparing multiple periods and engaging local management can help calibrate on-the-ground risk and its potential impact on retention and insurance costs.
Proximity to diversified employment hubs supports renter demand and commute convenience, including distribution, defense & aerospace, energy infrastructure, wireless technology, and biopharma.
- Sysco d foodservice distribution (10.4 miles)
- L-3 Telemetry & RF Products d defense & aerospace (10.9 miles)
- Sempra Energy d energy infrastructure (14.1 miles) d HQ
- Qualcomm d wireless technology (15.5 miles) d HQ
- Celgene Corporation d biopharma (16.1 miles)
This 71-unit, 1987-vintage property benefits from a neighborhood with high occupancy and a strong renter-occupied share, supporting day-one demand and ongoing leasing stability. Elevated ownership costs in the area, alongside competitive access to daily amenities, reinforce multifamily reliance and can support pricing power when paired with attentive lease management and resident retention strategies. Based on CRE market data from WDSuite, the neighborhood s rent positioning and top-decile occupancy (neighborhood-level) compare favorably to national trends.
The 1987 vintage is newer than the local average stock, suggesting relative competitiveness versus older assets; targeted capital plans around building systems and common areas can unlock value-add potential and bolster retention. Demographic trends within a 3-mile radius point to continued household growth and renter pool expansion over the forecast period, a constructive backdrop for long-term NOI durability. Key risks include below-metro safety indicators and lighter park/cafe density, which should be addressed through operations and amenity programming.
- High neighborhood occupancy and strong renter concentration support stable leasing
- Elevated ownership costs reinforce multifamily demand and retention potential
- 1987 vintage offers value-add and modernization upside versus older stock
- 3-mile household growth supports a larger tenant base and long-term NOI
- Risks: below-metro safety indicators and limited park/cafe density