11389 Lee, Adelanto, California 92301, Adelanto, 92301 - 0 bed, 0 bath
Loading property details...
Adelanto, California 92301
This 4-unit Strong Value Opportunity is listed at $439,900—positioned well below the $476,238 Fair Market Value by 7%. This valuation gap offers $36,338 in Instant Equity. Featuring Mixed-Use (MU) zoning and a 1.14-acre lot, the property provides significant development flexibility. While the Fair Condition Rating reflects its 1956 construction, the recent light rehabs and separate utility meters enhance immediate cash flow. This is an ideal acquisition for Buy-and-Hold Investors or Developers seeking to maximize long-term rental yield and expansion potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 11389 Lee Subject | $439,900* List Price | 0 | 0 | 2,736 | $174 | - |
A 11895 White Avenue Active | $495,000 List Price | 0 | 0 | 2,414 | $205 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
The property is a 1956 build that underwent a 'light rehab' in early 2026. While the interiors feature fresh paint and new laminate flooring making them move-in ready, the overall structure remains a dated cinder block construction. The exterior, detached garage, and septic system reflect the property's 70-year age, placing it in the Fair category despite the recent cosmetic updates.
The property features a massive 1.14-acre flat lot with rare Mixed-Use (MU) zoning, providing significant flexibility for adding higher-density residential units, ADUs, or commercial live-work spaces.
With three units currently vacant—two of which received light renovations in 2026—investors can immediately capture market-rate rents to significantly increase cash flow over the current under-market occupied unit.
Separate electric and gas meters for each unit minimize landlord utility expenses and simplify property management, directly enhancing the net operating income for the investor.
Built in 1956 and sold strictly as-is, the property may require significant capital expenditure for deferred maintenance or upgrades to aging infrastructure and systems.
The property operates on a septic system rather than a public sewer, which could complicate or increase the cost of future high-density development and expansion plans.
Investor Alert: In-place income with massive pro forma upside and development flexibility. This 4-unit income property sits on a flat, usable 1.14-acre lot in Adelanto, featuring rare Mixed-Use (MU) zoning that opens the door for future expansion, higher-density residential additions, or a live-work commercial play. The Units & Income Potential: Unit 1 (3BR/1BA): Vacant, light rehab completed April 2026, move-in ready (projected market rent $2,089). Unit 2 (1BR/1BA): Vacant, light rehab completed April 2026, move-in ready (projected market rent $1,194). Unit 3 (1BR/1BA): Vacant and rental-ready (projected market rent $1,194). Unit 4 (1BR/1BA): Occupied at $680/month, well below market. Projected rents are estimates, not guarantees. Value-Add & Property Features: Separate electric and gas meters keep landlord utility expenses low; shared water/trash; septic system. Over 1 full acre of flat, usable land under flexible MU zoning, plus a detached garage ideal for a potential ADU conversion or room for additional income-generating units — buyer to verify all permitted uses and expansion potential with the City of Adelanto. Property sold strictly AS-IS. Seller prefers cash or 1031 exchange for a fast close but will consider strong conventional financing. Investor summary, rent roll & pro forma, NHD report, and third-party zoning analysis available in MLS supplements. Information deemed reliable but not guaranteed; buyer to verify all.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 0.0 |
| Baths | 0.0 | 0.0 |
| Square foot | 2,736 | - |
| Lot Size | 49,658 | - |
| Price | $439.9K | $350.0K |
| Price per sq ft | $161 | $198 |
| Built year | 1956 | 0 |
| HOA | $0 | $0 |
| Days on market | 56 | 113 |
May 27, 2026
$439,900
Initial Listing
Apr 27, 2023
$442,000
Public Record
Feb 28, 2014
$125,000
Public Record
Dec 14, 2007
$310,000
Public Record