| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 3rd | Poor |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18414 Jonathan St, Adelanto, CA, 92301, US |
| Region / Metro | Adelanto |
| Year of Construction | 1977 |
| Units | 30 |
| Transaction Date | 2010-01-10 |
| Transaction Price | $837,500 |
| Buyer | RC INVESTMENT GROUP |
| Seller | CASPER JOHN P |
18414 Jonathan St, Adelanto CA — Workforce Multifamily Opportunity
Renter demand is the primary draw here, with a high neighborhood renter-occupied share and stable occupancy supporting cash flow resilience, according to WDSuite’s CRE market data. The 1977 vintage points to value-add potential through targeted modernization in a price-sensitive Inland Empire submarket informed by disciplined commercial real estate analysis.
Located in Adelanto within the Riverside–San Bernardino–Ontario metro, the property sits in an Inner Suburb setting where renter households are prevalent. The neighborhood’s renter-occupied share is among the highest locally (ranked against 997 metro neighborhoods), signaling a deep tenant base for multifamily and supporting demand durability across cycles.
Livability factors are mixed. Grocery access trends above national average levels, while cafes are comparatively available by national standards. However, parks, restaurants, pharmacies, and childcare options are limited nearby, which can modestly affect convenience for residents and may influence tenant mix and retention strategies.
From an occupancy standpoint, neighborhood occupancy sits around the middle of the pack versus metro and national benchmarks, suggesting steady but competitive leasing conditions. Median home values are lower than many California markets, which can introduce some competition from ownership alternatives; investors should manage pricing and renewals with an eye on retention and rent-to-income thresholds.
Demographic statistics are aggregated within a 3-mile radius. Recent years show softer population and household counts, but forward-looking projections indicate population growth and a notable increase in households alongside smaller average household sizes. For multifamily, that trend can expand the renter pool and support occupancy stability, per WDSuite’s CRE market data.
Vintage considerations: built in 1977, the asset is newer than the neighborhood’s average construction year. That positioning can be competitive versus older stock while still warranting targeted system updates and cosmetic improvements to capture value-add upside and strengthen leasing velocity.
Safety indicators benchmark below national averages and sit in the lower tier among the 997 metro neighborhoods, based on WDSuite’s data. Recent readings point to property and violent offense rates that are weaker than national percentiles, with a recent upward trend over the latest year. For underwriting, investors typically budget for security measures, lighting, and operational policies to support resident experience and reduce turnover risk.
Prudent asset management in similar neighborhoods focuses on visibility, access control, and partnership with local resources. Monitoring trend direction quarter to quarter can help calibrate marketing, screening, and CAPEX plans without over-relying on short-term fluctuations.
Regional employment is diversified across energy infrastructure, food manufacturing, aerospace, and environmental services, which can support renter demand through commute-accessible jobs for a workforce tenant base. The employers below represent nearby nodes that help underpin leasing stability.
- Kinder Morgan — energy infrastructure (36.4 miles)
- General Mills — food manufacturing (39.35 miles)
- Lockheed Martin Aeronautics Co. — aerospace (40.26 miles)
- Waste Management - Palmdale — environmental services (42.14 miles)
- Waste Management — environmental services (43.15 miles)
This 30-unit 1977 asset offers a straightforward workforce housing thesis: high neighborhood renter concentration supports depth of demand, while mid-range occupancy trends suggest stable leasing with room for operational enhancement. According to CRE market data from WDSuite, the surrounding area shows comparatively strong renter orientation and a forward outlook of household growth within a 3-mile radius, which can translate to a larger tenant base over time.
The vintage implies clear value-add pathways—select system upgrades and unit/interior improvements can sharpen competitiveness against older stock in the submarket. Investors should balance this with measured assumptions around amenity-light surroundings, safety benchmarking below national averages, and affordability pressures (rent-to-income) when calibrating rent growth, renewal strategy, and CAPEX.
- Strong renter-occupied share in the neighborhood supports multifamily demand depth and leasing durability.
- 1977 vintage presents value-add potential through targeted renovations and system modernization.
- Projected 3-mile household growth expands the tenant base and can support occupancy stability over time.
- Balanced underwriting should account for amenity limitations and safety metrics that trail national benchmarks.
- Manage pricing and renewals with attention to rent-to-income ratios to sustain retention and cash flow.