8582 Wheeler 1, Fontana, California 92335, Fontana, 92335 - 0 bed, 0 bath
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Fontana, California 92335
This Dual-Unit Residential Asset is a Prime Investment Opportunity, listed at $650,000—positioned well below the $676,923 Fair Market Value by 3%. This valuation gap secures $26,923 in Instant Equity for the incoming owner. Boasting a Move-in Ready Condition Rating, the property features two updated homes on a single lot with WMXU Walkable Mixed-Use Zoning within a tax-advantaged Opportunity Zone. With a renovated Granite Kitchen, stainless appliances, and proximity to the Fontana Metrolink, it offers exceptional rental or home-business potential. This is an ideal match for Buy-and-Hold Investors or Owner-Occupants.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8582 Wheeler 1 Subject | $650,000* List Price | 0 | 0 | 1,332 | $508 | - |
A 16164 Orange Court Sold | $540,000 | 3 | 2 | 1,270 | $425 | 1.0 mi |
B 9352 Olive Street Sold | $540,000 | 3 | 2 | 942 | $573 | 1.0 mi |
C 8621 Cypress Sold | $545,000 | 3 | 2 | 1,096 | $497 | 0.5 mi |
D 8582 Wheeler 1 Active | $650,000 List Price | 3 | 2 | 1,332 | $488 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is move-in ready.
Despite being built in 1920, the property is move-in ready and has undergone significant interior updates. The kitchen features modern dark wood cabinetry, granite countertops, and stainless steel appliances. The living areas include updated laminate flooring and wall-mounted AC units. While the exterior and shared spaces show some age, the primary living components have been renovated within the last 5 to 15 years, making it functional and well-maintained.
The property features two separate homes on a single lot, providing an excellent opportunity for rental income, a home-based business, or multi-generational living.
Zoned as Walkable Mixed-Use (WMXU) and situated in an Opportunity Zone, this property offers significant tax benefits and flexible development options for creative investors.
Located near downtown Fontana, the property is within walking distance to the train station, public transit, city hall, and various shopping centers, ensuring high demand.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1332, other record living area = 852.
Built in 1920, the property likely requires significant maintenance, modern upgrades, or structural oversight typical of century-old homes.
The shared porch area between the front and back houses limits residential privacy, which may be a drawback for tenants seeking completely independent living spaces.
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 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 around the property, and public parking 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. 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.
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home | Neighborhood Ranking (50 Listings) |
|---|---|---|---|
| Beds | 0.0 | 3.0 | 2% |
| Baths | 0.0 | 2.0 | 2% |
| Square foot | 1,332 | 1,302 | 51% |
| Lot Size | 4,800 | 8,250 | 3% |
| Price | $650.0K | $570.5K | 77% |
| Price per sq ft | $488 | $425 | 72% |
| Built year | 1920 | 1956 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 51 | 187 | 4% |
Mar 2, 2026
$650,000
Initial Listing
Jun 14, 2019
$322,000
Public Record