| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 46th | Poor |
| Demographics | 3rd | Poor |
| Amenities | 24th | Fair |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 18488 Montezuma St, Adelanto, CA, 92301, US |
| Region / Metro | Adelanto |
| Year of Construction | 1988 |
| Units | 48 |
| Transaction Date | 2003-02-05 |
| Transaction Price | $556,330 |
| Buyer | GHIAS SADIQ |
| Seller | DESERT BREEZE LLC |
18488 Montezuma St Adelanto Multifamily Investment Opportunity
This 48-unit property built in 1988 sits in a neighborhood with 78% renter-occupied housing units—well above the metro median—supporting sustained multifamily demand, according to CRE market data from WDSuite.
18488 Montezuma St is located in Adelanto, an inner-suburb neighborhood within the Riverside-San Bernardino-Ontario metro, where renter-occupied housing represents 78% of all units—ranking in the top 1% nationally. This exceptionally high renter concentration supports deep and stable multifamily demand. Neighborhood-level occupancy stands at 90.3%, above the metro median among 997 neighborhoods, reflecting balanced absorption and tenant retention. Median contract rent in the immediate neighborhood is $814, ranking in the 39th percentile nationally, while demographic data aggregated within a 3-mile radius show median household income of approximately $42,600 and median rent of $914, indicating moderate affordability pressure that reinforces rental housing reliance.
The property was constructed in 1988, older than the neighborhood's average vintage of 1969. This positions the asset for value-add strategies, including unit renovations and common-area upgrades that can drive rent premiums and improve competitive positioning. Investors should plan for capital expenditure cycles typical of properties approaching 40 years of age, including mechanical systems, roofing, and exterior envelope work.
Within the 3-mile radius, the population has declined modestly by 6.5% over the past five years to approximately 12,940 residents, yet forward-looking projections estimate 27.7% population growth and a 77% increase in households through 2028. This anticipated expansion—driven in part by housing development and regional migration—supports a larger renter pool and may improve occupancy stability and lease-up velocity. The neighborhood's amenity profile is mixed: grocery density ranks in the 67th percentile nationally, and café density in the 78th percentile, but childcare, parks, pharmacies, and restaurants are sparse or absent, which may limit tenant appeal for families and impact retention among certain demographics.
Median home values in the neighborhood are approximately $251,500, ranking in the 51st percentile nationally. While ownership costs remain accessible relative to many California markets, elevated home values in the broader region sustain rental demand by limiting the pool of prospective homebuyers. The rent-to-income ratio of 0.29 ranks in the 6th percentile nationally, suggesting relatively low affordability pressure on current tenants and potential for measured rent growth as incomes rise. However, low educational attainment—just 2.9% of adults hold a bachelor's degree, ranking in the 3rd percentile nationally—and median household income in the 3rd percentile nationally underscore the need for lease management strategies that balance pricing power with tenant retention risk.
Safety is an important consideration for tenant appeal and retention. The neighborhood's violent crime rate is estimated at 142 incidents per 100,000 residents, ranking 867th among 997 metro neighborhoods and in the 25th percentile nationally, indicating elevated violent crime relative to peer neighborhoods. Property crime is estimated at approximately 1,339 incidents per 100,000 residents, ranking 836th metro-wide and in the 17th percentile nationally. Both violent and property crime have trended upward over the past year—27% and 7%, respectively—suggesting deteriorating conditions that may weigh on tenant perceptions and lease renewals.
Investors should account for these trends in underwriting by considering enhanced property security measures (lighting, cameras, access control) and monitoring local law enforcement initiatives. While crime statistics reflect broader neighborhood dynamics rather than property-specific risk, elevated and rising crime rates can influence tenant turnover, insurance costs, and long-term positioning. Prospective buyers are encouraged to review recent incident reports and consult with property management on tenant feedback and security protocols.
The broader High Desert and Inland Empire employment base includes several large corporate offices within commuting distance, supporting workforce housing demand in Adelanto. Key nearby employers include:
- Kinder Morgan — energy infrastructure (36.5 miles)
- General Mills — food manufacturing (39.4 miles)
- Lockheed Martin Aeronautics Co. — defense & aerospace (40.1 miles)
- Waste Management – Palmdale — environmental services (42.0 miles)
- Ryder Vehicle Sales — fleet services (43.2 miles)
18488 Montezuma St presents a value-add opportunity anchored by exceptionally strong renter concentration—78% of neighborhood housing units are renter-occupied, ranking in the top 1% nationally—which supports sustained multifamily demand and tenant pool depth. Neighborhood-level occupancy of 90.3% sits above the metro median, reflecting stable absorption despite modest near-term population decline. Commercial real estate analysis from WDSuite indicates that demographic projections within a 3-mile radius anticipate 27.7% population growth and a 77% increase in households through 2028, expanding the renter base and supporting occupancy stability over the investment horizon. Median rent of $914 and a low rent-to-income ratio provide room for measured rent growth as household incomes rise, though investors should monitor affordability dynamics closely given the area's below-average income profile.
The property's 1988 vintage positions it for capital investment and repositioning. Unit renovations, common-area upgrades, and deferred maintenance remediation can unlock rent premiums and improve competitive positioning within the neighborhood. However, investors must carefully underwrite capital expenditure cycles, rising crime trends, and limited amenity infrastructure, all of which may influence tenant retention and lease-up velocity. The investment case rests on disciplined execution of value-add strategies in a market with strong structural rental demand but meaningful operational and demographic risk factors.
- Top 1% renter concentration nationally supports deep and stable multifamily tenant demand
- Projected 27.7% population growth and 77% household increase through 2028 expand the renter pool
- 1988 construction offers value-add upside through renovations and capital improvements
- Low rent-to-income ratio and moderate rents provide runway for measured rent growth
- Rising crime trends and limited amenities require proactive lease management and security investment