| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 3rd | Poor |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18335 Montezuma St, Adelanto, CA, 92301, US |
| Region / Metro | Adelanto |
| Year of Construction | 1986 |
| Units | 24 |
| Transaction Date | 2001-10-11 |
| Transaction Price | $799,500 |
| Buyer | HIGHLAND SERVICE CORP |
| Seller | MONTEZUMA VILLAS LLC |
18335 Montezuma St Adelanto Multifamily Investment Opportunity
Neighborhood occupancy has been steady and renter demand is deep, according to WDSuite’s CRE market data, supporting a practical income approach for a 24-unit asset in Adelanto. Focus is on durable cash flow, not premium rents, in a workforce-oriented location.
This Inner Suburb neighborhood in the Riverside–San Bernardino–Ontario metro carries a D rating and performs below the metro median on several measures (950 of 997 neighborhoods). For investors, the draw is a large renter base and attainable rents relative to regional norms, which can support occupancy durability when managed with attention to lease terms and renewal discipline.
Renter concentration is high across neighborhood housing units (among the top concentrations metro-wide), indicating a sizable tenant pool and ongoing demand for multifamily product. Neighborhood occupancy is around the middle of national performance but below the metro median, so consistent marketing and tenant retention programs are important to sustain stability.
Daily-needs access leans practical rather than lifestyle-driven: grocery availability ranks above many U.S. neighborhoods, while cafés are present but restaurants, parks, childcare, and pharmacies are sparse. That mix points to workforce housing dynamics with fewer amenity-driven rent premiums, making expense control and operational execution central to returns.
The property’s 1986 vintage is newer than the neighborhood’s older housing stock (average 1969). This positioning can be competitive against nearby older assets; however, investors should plan for modernization of systems and interiors to capture value-add upside and support rent trade-outs without overextending affordability.
Within a 3-mile radius, recent years show softer population and household counts, but forward-looking projections indicate growth in both population and households with smaller average household sizes. This points to a potential renter pool expansion and more one- and two-bedroom demand over time, which can support occupancy stability if unit mix and finishes align with the market.
Home values sit near the national midpoint, and rent-to-income levels indicate some affordability pressure for residents. For investors, that suggests balancing rent growth with retention tactics to minimize turnover, while leveraging operational improvements rather than outsized price steps to drive NOI.
Safety indicators for the neighborhood are below national medians, with crime ranking weaker than many areas in the metro (868 of 997 neighborhoods). Compared with neighborhoods nationwide, the area sits in lower percentiles for safety, so investors typically budget for security measures and emphasize strong resident screening and property lighting as part of operations.
Recent estimates show year-over-year increases in both property and violent offense rates at the neighborhood level. While these are neighborhood statistics rather than property-specific figures, they underline the importance of active onsite management, coordination with local resources, and physical improvements that can support resident comfort and lease retention.
Regional employment is diversified across energy infrastructure, food manufacturing, aerospace, and waste services within commuting distance, supporting workforce housing demand and resident retention tied to stable blue- and grey-collar roles.
- Kinder Morgan — energy infrastructure (36.3 miles)
- General Mills — food manufacturing (39.2 miles)
- Lockheed Martin Aeronautics Co. — aerospace (40.2 miles)
- Waste Management - Palmdale — waste services (42.1 miles)
- Waste Management — waste services (43.0 miles)
18335 Montezuma St is a 24-unit 1986-vintage asset positioned as practical workforce housing in Adelanto. The neighborhood skews renter-heavy with a broad tenant base and attainable rents, which can underpin occupancy when paired with attentive leasing and renewals. According to CRE market data from WDSuite, neighborhood occupancy is near national midrange but below the metro median, indicating that consistent marketing and resident retention strategies matter more than amenity premiums.
The asset is newer than much of the surrounding housing stock, creating potential value-add and modernization levers to strengthen competitive standing without relying on aggressive rent steps. Within a 3-mile radius, forward projections point to population and household growth alongside smaller household sizes, implying a larger renter pool over time if product, finishes, and pricing meet value expectations. Key risks include safety metrics that trend below national norms and resident affordability pressure, making disciplined expense control, targeted upgrades, and measured pricing the core of the thesis.
- Renter-heavy neighborhood supports depth of tenant base and occupancy stability
- 1986 vintage offers value-add/modernization upside versus older local stock
- Practical, needs-based location favors operations-driven NOI over amenity premiums
- 3-mile projections point to renter pool expansion with smaller household sizes
- Risks: below-median safety and resident affordability require careful pricing and security planning