8582 Wheeler 1, Fontana, California 92335, Fontana, 92335 - 0 bed, 0 bath
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Fontana, California 92335
This Dual-Unit Residential Asset represents a High-Potential Investment Opportunity, listed at $625,000—positioned above the $550,985 Fair Market Value. While the property requires capital for modernization, its WMXU Walkable Mixed-Use Zoning and Opportunity Zone status provide significant long-term development upside. Featuring a Condition Rating of 4, the property offers a unique live-work configuration with two units on one lot. This is an ideal acquisition for Buy-and-Hold Investors or Creative Entrepreneurs seeking to leverage downtown Fontana’s high-traffic location for rental income or business services.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 8582 Wheeler 1 Subject | $625,000* List Price | 0 | 0 | 1,332 | $414 | - |
A 16164 Orange Court Sold | $540,000 | 3 | 2 | 1,270 | $425 | 1.0 mi |
B 8582 Wheeler 1 Active | $625,000 List Price | 3 | 2 | 1,332 | $469 | 0.0 mi |
* Subject property listed price vs sold prices of comps.
Property is moderate renovation needed.
Built in 1920, the property shows signs of partial updates including a functional kitchen with stainless steel appliances and granite-style counters likely 10-15 years old. However, the overall structure remains dated with visible wear on interior doors, walls, and the use of window AC units rather than central HVAC, indicating a need for modernization and minor repairs.
Featuring two separate homes on a single lot, this property offers excellent flexibility for rental income, multi-generational living, or a live-work setup.
Zoned as Walkable Mixed-Use (WMXU) and located within an Opportunity Zone, the property provides unique tax incentives and diverse development possibilities for creative investors.
Situated near the train station, city hall, and local shopping, the high-traffic location ensures excellent accessibility and convenience for residents or business services.
Living area discrepancy between mls listing and other public or private record. mls listing living area = 1332, other record living area = 852.
Originally built in 1920, the structures may require substantial updates to plumbing, electrical, and structural systems to meet modern standards.
Having spent 88 days on the market with a recent price reduction, the property may face challenges regarding its perceived value or current condition relative to the asking price.
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 | 1,313 | 51% |
| Lot Size | 4,800 | 8,250 | 3% |
| Price | $625.0K | $592.0K | 69% |
| Price per sq ft | $469 | $427 | 61% |
| Built year | 1920 | 1956 | 1% |
| HOA | $0 | $0 | 50% |
| Days on market | 104 | 167 | 17% |
May 16, 2026
$625,000
$650,000
-4% Price Drop
Initial Listing
Mar 2, 2026
$650,000
Initial Listing
Jun 14, 2019
$322,000
Public Record