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$ 975,000
Est. payment | /mo
5 Beds
4 Baths
2,912 SqFt
$ 975,000
Est. payment | /mo
5 Beds
4 Baths
2,912 SqFt
Key Details
Property Type Single Family Home
Listing Status Active
Purchase Type For Sale
Square Footage 2,912 sqft
Price per Sqft $334
MLS Listing ID 26989407
Bedrooms 5
HOA Y/N No
Year Built 1978
Lot Size 8,102 Sqft
Property Description
We are pleased to present 9221 Wheeler Court, a four-unit multifamily property located in Fontana, California. The property is conveniently located near the 10, 15, and 210 Freeways, providing tenants with easy access throughout the Inland Empire, including Los Angeles, San Bernardino, and Riverside. 9221 Wheeler Court offers investors the opportunity to acquire a well-maintained four-unit property with strong in-place income and a clear value-add component. Recent interior renovations highlight the property's potential, while the remaining units offer additional upside through future improvements and rental growth. The property features approximately 2,192 rentable square feet on an 8,100-square-foot lot. Built in 1978, the unit mix consists of two one-bedroom/one-bathroom units, one one-bedroom/one-bathroom plus den unit, and one two-bedroom/one-bathroom unit. Amenities include a large shared backyard, on-site washer and dryer, and eight on-site parking spaces, including four enclosed garages. Recent improvements include exterior renovations, fresh paint, and interior upgrades. Offered at $975,000, the property is priced at $243,750 per unit and $334.82 per square foot. The property is currently producing a 5.81% cap rate and 11.11 GIM, with the opportunity to achieve a stabilized 6.43% cap rate and 10.36 GIM as rents are brought closer to market. Fontana continues to experience steady rental demand supported by its relative affordability, freeway access, and diverse employment base, including Amazon, Kaiser Permanente Fontana Medical Center, and the broader Inland Empire logistics corridor. With strong in-place income, recent improvements, and additional upside, 9221 Wheeler Court offers investors immediate cash flow with a clear path to increased long-term returns.
Location
State CA
County San Bernardino
Area 264 - Fontana
Interior
Fireplace No
Exterior
Total Parking Spaces 8
Building
Story 2
Entry Level Two
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 0194032170000
Special Listing Condition Standard
Listed by Oscar Diaz Marcus & Millichap #02022902
Nearby Locations
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3020 Old Ranch Parkway Suite 250, Seal Beach, CA 90740, US