1244 S Spruce Street, Montebello, CA 90640

Montebello
Local realty services provided by:ERA Excel Realty
1244 S Spruce Street,Montebello, CA 90640
$3,488,888
  • 23 Beds
  • 11 Baths
  • 8,990 sq. ft.
  • Multi-family
  • Active
Listed by: shant sherbetdjian
Office: remax commercial and investment realty213-817-1000
MLS#:26998007
Source:CRMLS

Price summary

  • Price:$3,488,888
  • Price per sq. ft.:$388.09

About this home

First time being offered for sale in 28 years (nearly three decades), this property presents an excellent opportunity to acquire a well-maintained multifamily investment with an attractive unit mix consisting primarily of spacious two-bedroom units, along with a three-bedroom unit, averaging nearly 800 square feet each. The property offers attractive cash flow with a 6.21% cap rate and a 10.22 GRM based on current rents which include additional income generated from the on-site laundry facilities. Recent improvements include a newly painted exterior, adding to the property's overall appeal. This is an excellent opportunity for a 1031 exchange up-leg or as an addition to an existing investment portfolio. Conveniently located within a short distance of the 5, 605, 60, and 710 freeways, the property provides easy access to major transportation routes. The property is not subject to any local rent control and is only subject to California's statewide AB 1482 rent regulations.

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Home facts

  • Year built:1962
  • Listing ID #:26998007
  • Added:14 day(s) ago
  • Updated:October 22, 2026 at 11:17 AM

Rooms and interior

  • Bedrooms:23
  • Total bathrooms:11
  • Living area:8,990 sq. ft.

Structure and exterior

  • Year built:1962
  • Building area:8,990 sq. ft.
  • Lot area:0.32 Acres
  • Levels:2 Story

Finances and disclosures

  • Price:$3,488,888
  • Price per sq. ft.:$388.09

Parking

  • Total parking spaces:11
  • Parking description:Covered
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