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11389 Lee Ave., Adelanto, California 92301, Adelanto, 92301 - bed, bath

11389 Lee Ave., Adelanto, California 92301 home-pic-0
ACTIVE$475,000$2,736/sqft
11389 Lee Ave., Adelanto, California 92301
0Bed
0Bath
2,736Sqft
49,658Lot

Price Vs. Estimate

Estimation data not available

Key pros and cons

Top Pros:
Income-Generating Quadruplex: This property is a fourplex, offering immediate rental income and serving as a stable investment vehicle for savvy investors or owner-occupants.
Top Cons:
Property Age & Inconsistent Updates: Built in 1956, and while two units are renovated, the other two 1-bedroom units are not explicitly mentioned as updated, suggesting potential for dated interiors or systems.

Compared to the nearby listings

Price:$475.0K vs avg $570.0K ($-95,000)40%
Size:2,736 sqft vs avg 2,736 sqft50%
Price/sqft:$174 vs avg $19520%

More Insights

Built in 1956 (70 years old).
Condition: Built in 1956, this quadruplex presents a mixed bag of conditions. While two units in the rear building have been extensively renovated with modern basic finishes, including new wood-look vinyl flooring, updated bathrooms with new fixtures and tiling, and newer white appliances, the other two units in the front building are significantly dated. These unrenovated units feature older parquet-style flooring, very dated kitchens with older appliances and cabinets, and bathrooms with original-looking small square tiles and basic vanities. The overall property, despite some updates, shows its age and inconsistent maintenance across all units, requiring substantial updates for the unrenovated portions to meet current standards.
Year Built
1956
Close
-
List price
$475K
Original List price
$475K
Price/Sqft
$174
HOA
-
Days on market
-
Sold On
-
MLS number
OC25278347
Home ConditionFair
Features
Patio
View-

About this home

Discover a Prime Investment Opportunity on Over 1 Acre in Adelanto. Elevate your portfolio with this unique fourplex situated on a sprawling, level lot of over 43,000 square feet. Offering a blend of current stability and future growth potential, this property is a versatile find for the savvy investor or an owner-occupant seeking a spacious multi-unit compound. Constructed with durable block and brick, these residences provide a solid foundation. Move-In Ready & Updated: The rear building features two extensively renovated units. This includes a 3-bedroom residence and a 1-bedroom unit, both featuring open floor plans and practical tile and vinyl flooring. The front building houses two additional 1-bedroom units, providing a consistent multi-unit layout. Expansion Potential: The true value is in the land. With over an acre of space, there is significant room to explore the addition of an ADU or further residential development (buyer to verify all permits, zoning, and usage with City of Adelanto). This "value-add" property offers ample outdoor space and numerous possibilities for growth. Key Features: Parking & Security: A long driveway leads to a detached garage and extensive on-site private parking. Prime Location: Quick access to Highway 395 and I-15; minutes from local schools and shopping. Secure a high-potential asset in a growing area. Don't miss out on this incredible opportunity!

V
Victorea Aguila
Listing Agent

Price History

Date
Event
Price
04/27/23
Sold
$442,000
02/28/14
Sold
$125,000
12/14/07
Sold
$310,000
Condition Rating
Fair
Built in 1956, this quadruplex presents a mixed bag of conditions. While two units in the rear building have been extensively renovated with modern basic finishes, including new wood-look vinyl flooring, updated bathrooms with new fixtures and tiling, and newer white appliances, the other two units in the front building are significantly dated. These unrenovated units feature older parquet-style flooring, very dated kitchens with older appliances and cabinets, and bathrooms with original-looking small square tiles and basic vanities. The overall property, despite some updates, shows its age and inconsistent maintenance across all units, requiring substantial updates for the unrenovated portions to meet current standards.
Pros & Cons

Pros

Income-Generating Quadruplex: This property is a fourplex, offering immediate rental income and serving as a stable investment vehicle for savvy investors or owner-occupants.
Significant Land & Expansion Potential: Situated on over an acre (49,658 sq ft) of level land, there is substantial room for adding ADUs or further residential development, enhancing long-term value.
Partially Renovated Units: Two units in the rear building have been extensively renovated with open floor plans and modern tile/vinyl flooring, reducing immediate capital expenditure for those units.
Durable Construction: Constructed with robust block and brick, the residences provide a solid foundation and suggest potentially lower exterior maintenance costs over time.
Strategic Location & Ample Parking: Offers quick access to Highway 395 and I-15, minutes from local amenities, and features a detached garage with extensive on-site private parking.

Cons

Property Age & Inconsistent Updates: Built in 1956, and while two units are renovated, the other two 1-bedroom units are not explicitly mentioned as updated, suggesting potential for dated interiors or systems.
Buyer Due Diligence for Expansion: The significant expansion potential is contingent on the buyer verifying all permits, zoning, and usage with the City of Adelanto, which can be a complex and time-consuming process.
Potential for Deferred Maintenance: Given the property's age and multi-unit nature, there's a possibility of deferred maintenance in common areas or un-renovated units, requiring future investment.
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