9221 Wheeler Ct - Apartments FOR SALE


Fontana, CA 92335 | 
$975,000 USD
909-827-0687
9221 Wheeler Ct, Fontana, CA for Sale
$975,000 USD
Apartments - FOR SALE
1/18
null | 5.81% Cap Rate

9221 Wheeler Ct
Fontana, CA 92335


HIGHLIGHTS

  • Currently producing a 5.81% cap rate with the opportunity to achieve a projected 6.43% cap rate as rents are brought closer to market.
  • Consists of (2) 1 Bedroom/1 Bath units, (1) 1 Bedroom/1 Bath + Den unit, and (1) 2 Bedroom/1 Bath unit.
  • Recent exterior renovations, fresh paint, and select interior upgrades, with additional upside through future improvements and rental growth.
  • Features eight on-site parking spaces, including four enclosed garages, on-site laundry, and a large shared backyard.
  • Offers flexibility for an investor seeking rental income or a buyer looking to occupy one unit while collecting income from the remaining three.

OVERVIEW

Marcus & Millichap is 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 ±2,912 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.

FOR SALE DETAILS

PRICE

$975,000 USD

PRICE/SF

$349 USD /SF

# OF UNITS

4

PRICE/UNIT

$243,750

CAP RATE

5.81%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1978

PARKING SPACES

8

LAND DETAILS

LAND ACRES

0.19 AC

LAND SF

8,100 SF

ZONING

R3, Fontana

APN/PARCEL ID

0194-032-17

ASK ABOUT THIS PROPERTY

Sebastian DiazMarcus & MillichapMore Info
909-827-0687

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Sebastian DiazMarcus & MillichapMore Info
909-827-0687

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.