| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 81st | Good |
| Demographics | 14th | Poor |
| Amenities | 32nd | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 520 S Mollison Ave, El Cajon, CA, 92020, US |
| Region / Metro | El Cajon |
| Year of Construction | 1977 |
| Units | 68 |
| Transaction Date | 2017-05-26 |
| Transaction Price | $14,140,000 |
| Buyer | Rodney Allan Johnson |
| Seller | Pacific Mollison, Developer, Dentt Properties, Price/unit and /sf |
520 S Mollison Ave El Cajon Multifamily Value-Add
Neighborhood occupancy trends are in the mid-90s and renter demand is deep, according to WDSuite’s CRE market data, supporting stable leasing for well-managed assets. High ownership costs in San Diego County further reinforce reliance on multifamily housing in this Urban Core pocket.
This Urban Core neighborhood in El Cajon offers solid renter fundamentals for workforce-oriented multifamily. Neighborhood occupancy trends sit above national norms (72nd percentile), and the share of housing units that are renter-occupied is very high (near the top nationally), indicating a broad tenant base that can support absorption and retention for professionally operated properties.
Local living patterns are mixed. Cafe density ranks strong (94th percentile nationally), while grocery, park, and pharmacy options are sparse within the neighborhood boundaries, suggesting residents likely rely on nearby areas for daily needs. For investors, that mix points to steady day-to-day vibrancy with some convenience trade-offs that may influence resident satisfaction and renewal strategy.
Home values in the neighborhood are elevated versus national benchmarks (upper decile), which typically sustains rental demand by making ownership comparatively expensive. At the same time, the rent-to-income ratio for the neighborhood sits on the high side, a signal to manage affordability pressure through careful lease management and amenity positioning to support retention.
Within a 3-mile radius, demographics show modest population growth recently and a meaningful increase in households, with further household expansion projected over the next five years. This points to a larger tenant base and supports occupancy stability even as preferences evolve. The property’s 1977 construction is slightly older than the neighborhood average year built, creating potential value-add or capital planning opportunities to enhance competitiveness against newer stock.
Safety indicators here trend below national averages, with the neighborhood ranking in the lower tier among the 621 San Diego–area neighborhoods and around the 22nd percentile nationally. Recent year-over-year data show an uptick in violent incidents and a smaller increase in property offenses. For underwriting, this suggests a focus on security features, lighting, and resident engagement, along with close monitoring of trendlines relative to nearby submarkets.
Proximity to diversified employers supports renter demand and commute convenience, notably aerospace/defense, food distribution, energy utilities, and technology. The employers listed below reflect nearby drivers that can contribute to leasing stability.
- L-3 Telemetry & RF Products — defense & aerospace offices (10.9 miles)
- Sysco — food distribution (11.7 miles)
- Sempra Energy — energy utilities (13.3 miles) — HQ
- Qualcomm — wireless technology (16.0 miles) — HQ
- Celgene Corporation — biopharma offices (16.5 miles)
520 S Mollison Ave presents an operationally driven value-add play in a renter-heavy Urban Core neighborhood of El Cajon. Neighborhood occupancy runs above national benchmarks, and elevated local home values tend to sustain multifamily demand by keeping ownership comparatively expensive. According to CRE market data from WDSuite, these dynamics support durable leasing for competitively positioned assets.
Within a 3-mile radius, households have grown and are projected to expand further, indicating a larger renter pool that can support occupancy stability. The 1977 vintage suggests scope for targeted renovations and systems upgrades to improve unit competitiveness versus newer stock while managing capital plans to match rent positioning. Balancing this upside, investors should account for neighborhood affordability pressure and below-average safety indicators when setting renewal strategies and amenity investments.
- Renter-heavy neighborhood and above-average occupancy support stable demand
- Elevated ownership costs in the area reinforce reliance on rentals
- 1977 vintage creates value-add potential through targeted renovations
- Expanding household base within 3 miles supports leasing and absorption
- Risks: affordability pressure (high rent-to-income) and below-average safety