18140 Poinciana Road, Adelanto, California 92301, Adelanto, - bed, bath
ACTIVE UNDER CONTRACT$700,000
18140 Poinciana Road, Adelanto, California 92301
8Beds
5Baths
3,338Sqft
8,687Lot
Year Built
1986
Close
-
List price
$700K
Original List price
$640K
Price/Sqft
-
HOA
-
Days on market
-
Sold On
-
MLS number
IV25081788
Home ConditionFair
Features
Good View: Desert
ViewDesert
About this home
Welcome to 18140 Poinciana Rd—a well-maintained fourplex offering immediate cash flow and upside potential in the fast-growing High Desert region. Priced at$700,000, this two-story building consists of four spacious units: one 3-bed/2-bath, two 2-bed/1-bath, and one 1-bed/1-bath, totaling approximately 3,338rentable square feet on a 0.20-acre lot. Current rents generate a Gross Scheduled Income of $61,236 annually with market rents projected at $70,080—offering an attractive path to a 6.63% pro forma CAP rate. With a current CAP of 5.83% and pro forma GRM of 9.99, this property provides strong fundamentals with room for rent growth. Operating expenses are efficient at 32%, and tenants pay their own utilities (gas/electric).
Price History
Date
Event
Price
09/03/25
Price Change
$700,000
04/14/25
Listing
$640,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (4 Listings) | |
|---|---|---|---|
| Beds | 8 | 0 | 20% |
| Baths | 5 | 0 | 20% |
| Square foot | 3,338 | 2,168 | 80% |
| Lot Size | 8,687 | 8,687 | 50% |
| Price | $700K | $410K | 80% |
| Price per square foot | $210 | $205 | 60% |
| Built year | 1986 | 1984 | 60% |
| HOA | |||
| Days on market | 205 | 168 | 80% |
Condition Rating
Fair
Built in 1986, this property is 38 years old. The kitchen, while functional, features painted older cabinets with missing doors, basic laminate countertops, older white appliances, and dated tile flooring. Exterior AC units appear older, and the overall aesthetic is dated. The property requires minor updates and repairs, particularly in the kitchen, and its major components are functional but show signs of being outdated, aligning with the 'Fair' condition criteria.
Pros & Cons
Pros
Immediate Cash Flow & Upside Potential: The property is a well-maintained fourplex offering immediate cash flow, with current rents generating $61,236 annually and market rents projected at $70,080, indicating significant upside potential.
Strong Financial Metrics: It boasts a current CAP rate of 5.83% and an attractive pro forma CAP rate of 6.63%, coupled with efficient operating expenses at 32% and tenants paying their own utilities (gas/electric), enhancing profitability.
Well-Maintained Condition: Described as a 'well-maintained fourplex,' this suggests the property is in good condition, potentially reducing immediate capital expenditure needs for a new owner.
Diverse Unit Mix: The property features a varied unit composition (one 3-bed/2-bath, two 2-bed/1-bath, and one 1-bed/1-bath), catering to a broader tenant demographic and potentially reducing vacancy risk.
Location in Growth Market: Situated in the 'fast-growing High Desert region,' the property benefits from a dynamic market, which could lead to sustained rental demand and potential property value appreciation.
Cons
Property Age: Built in 1986, the property is nearly 40 years old, which, despite being well-maintained, may imply a higher likelihood of future capital expenditures for system upgrades or major component replacements.
Price Increase History: The listing price has increased from an original $640,000 to $700,000, which might suggest a seller testing the market or could be perceived as a less aggressive pricing strategy, potentially impacting buyer perception and negotiation room.
Limited Amenity Detail: The property description lacks specific details regarding common amenities such as in-unit laundry, dedicated parking, or shared outdoor spaces, which could be a drawback for tenants or require future investment to enhance appeal.