8582 Wheeler 1, Fontana, California 92335, Fontana, 92335 - 3 bed, 2 bath
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Fontana, California 92335
This property presents a High-Potential Investment Opportunity with a List Price of $625,000—positioned above the $579,046 Fair Market Value. While the property requires capital for modernization due to its Condition Rating of 5, the WMXU-zoned lot featuring a Dual-Unit Configuration offers significant upside for rental income or commercial development. Located in an Opportunity Zone near downtown Fontana, this asset is ideal for Buy-and-Hold Investors or Creative Entrepreneurs seeking a strategic, value-add project with long-term growth potential.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8582 Wheeler 1 Subject | $625,000* List Price | 3 | 2 | 1,332 | $435 | - |
A 8582 Wheeler 1 Active | $625,000 List Price | 0 | 0 | 1,332 | $469 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is extensive renovation needed.
Built in 1920, this property shows significant age-related wear and deferred maintenance. Visible indicators include peeling paint on original built-in cabinetry, the use of window AC units instead of central HVAC, and a cramped, dated kitchen infrastructure. The listing's focus on 'investor opportunity' and 'creative thinkers' further confirms the need for a comprehensive rehab to address structural and system obsolescence.
The property features two separate homes on a single lot, providing excellent versatility for rental income, multi-generational living, or a live-work arrangement.
Zoned as WMXU (Walkable Mixed-Use) and situated in an Opportunity Zone, the property offers significant potential for creative commercial development or tax-advantaged investment.
Located near downtown Fontana, the property boasts high walkability to the Metrolink station, city hall, and local business shops, ensuring strong demand and accessibility.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1332, other record living area = 852. Bedroom count discrepancy between mls listing and other public or private record. mls listing bedroom count = 3, other record bedroom count = 2.
Built in 1920, the property may require substantial capital investment to modernize aging systems and infrastructure to meet current building standards.
The shared back porch area and compact 4,800 sqft lot size may limit privacy between the two units, which could be a drawback for some residents or tenants.
Opportunity awaits. Located in the city of Fontana, 2 Homes on 1 lot near downtown Fontana. The front house has 2 bedrooms, 1 bath, a small front porch, a gated front yard, and includes a separate conversion/back house; the back porch area is shared with the back house. The back house has 1 bedroom and 1 bath, plus a small office space. A one-of-a-kind spot to do more than just live. Business shops are located around the property, and public parking is right next door. Great location near shopping, public transportation, a train station, a nearby middle school, a post office, city hall offices, and community centers and fire department. Property zoned WMXU- walkable mixed-use, and is in the opportunity zone. This home offers a great opportunity, making it perfect for investors or buyers seeking a strong investment. This is also a great opportunity for creative thinkers to provide services to the local community and live on-site. This is a great home with a guest house in the back for family or friends.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 3.0 | 3.0 | 50% |
| Baths | 2.0 | 2.0 | 50% |
| Square foot | 1,332 | 1,302 | 52% |
| Lot Size | 4,800 | 8,235 | 3% |
| Price | $625.0K | $595.0K | 68% |
| Price per sq ft | $469 | $430 | 60% |
| Built year | 1920 | 1956 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 65 | 180 | 7% |
May 16, 2026
$625,000
$650,000
-4% Price Drop
Initial Listing
Apr 10, 2026
$650,000
Initial Listing
Jun 14, 2019
$322,000
Public Record