11389 Lee

Investor Alert: Immediate cash flow 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: $2089). Unit 2 (1BR/1BA): Vacant. Light rehab completed April 2026. Move-in ready. (Projected Market Rent: $1194). Unit 3 (1BR/1BA): Vacant and rental-ready. (Projected Market Rent: $1194). Unit 4 (1BR/1BA): Occupied. Current rent is $680, well below market value. Value-Add & Property Features: Utilities: Separate electric and gas meters (keeps landlord utility expenses low). Shared water/trash. Property functions on a septic system. The Lot: Over 1 full acre of flat, usable land under highly flexible Mixed Use (MU) zoning. Includes a detached garage ideal for an ADU conversion or ample yard space for adding more income-generating units (buyer to verify permitted expansion uses with City of Adelanto). Property sold strictly AS-IS. Seller strongly prefers Cash or 1031 Exchange for a fast close, but will consider strong conventional financing. Information deemed reliable but not guaranteed; buyer to verify all details.