18140 Poinciana Road, Adelanto, California 92301, Adelanto, - bed, bath
ACTIVE UNDER CONTRACT$700,000
18140 Poinciana Road, Adelanto, California 92301
0Bed
0Bath
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
IV25084672
Home ConditionFair
Features
View-
About this home
Welcome to 18140 Poinciana Rd—a well-maintained fourplex presenting 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
04/17/25
Listing
$640,000
Neighborhood Comparison
| Subject | Average Home | Neighbourhood Ranking (4 Listings) | |
|---|---|---|---|
| Beds | 0 | 0 | |
| Baths | 0 | 0 | |
| 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 | 202 | 168 | 80% |
Condition Rating
Fair
The property was built in 1986, making it 38 years old, which aligns with the 'Fair' category's age criteria (built within the last 25-40 years with no major renovations since construction). While described as 'well-maintained,' the visible kitchen features (white painted basic cabinets, laminate countertops, older white appliances, and dated tile flooring) indicate that it is functional but significantly outdated. The exterior also shows its age with older AC units. The property is not in disrepair but requires minor updates to key areas like the kitchen and likely bathrooms (not pictured) to meet modern standards and appeal.
Pros & Cons
Pros
Immediate Cash Flow: The property offers immediate cash flow with current rents generating a Gross Scheduled Income of $61,236 annually, providing a solid return from day one.
Significant Upside Potential: There is substantial upside potential with market rents projected at $70,080 annually, leading to an attractive pro forma CAP rate of 6.63% and clear room for rent growth.
Efficient Operations & Tenant Responsibility: Operating expenses are efficient at 32%, and tenants are responsible for their own gas and electric utilities, reducing landlord overhead and increasing net operating income.
Diverse & Spacious Unit Mix: The fourplex features a desirable unit mix (one 3-bed/2-bath, two 2-bed/1-bath, one 1-bed/1-bath) totaling 3,338 rentable square feet, appealing to a broad tenant base.
Location in Growing Market: Situated in the fast-growing High Desert region of Adelanto, the property benefits from an expanding local economy and increasing demand for rental housing.
Cons
Property Age: Built in 1986, the property is 38 years old, which may necessitate future capital expenditures for major system replacements or renovations to maintain its competitive edge.
Reliance on Pro Forma Projections: The attractive 6.63% CAP rate is a pro forma projection based on market rents, meaning a buyer would need to actively implement rent increases to achieve this return, which involves effort and potential vacancy risk.
High Desert Market Specifics: While growing, the High Desert region (Adelanto) may present specific market dynamics, such as potentially slower appreciation compared to prime urban areas or susceptibility to economic fluctuations.