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23 Beds
11 Baths
8,990 sqft

$3,488,888

1244 S Spruce St, Montebello CA, 90640

Price per sqft$388.09
Built in1962
Property size8,990 sqft
Property typeMulti-family

Overview

Active

Listed Oct 7, 2026

Updated 8h ago

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.

$23,212/mo

Est. mortgage payment based on a $3,488,888 home price.

All estimates are provided by Luxury Presence for informational purposes only. Actual amounts may vary.

Additional information

MLS® ID
26998007

Interior Features

Bedrooms
23
Bathrooms
11
Cooling
Yes
Heating
Yes
Basement
No

Exterior Features

Lot Size
0.32 Acres

Listed by Shant Sherbetdjian with Remax Commercial and Investment Realty
Listing Contact: 626-657-8150 

Based on information from The MLSTM / Combined LA/Westside Multiple Listing Service, Inc. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information is deemed reliable but not guaranteed and should be independently reviewed and verified. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. All properties are subject to prior sale, change or withdrawal, and may or may not be listed by the office/agent presenting the information. Neither listing broker(s) nor CalNative Real Estate shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. 

©2026 Combined L.A./Westside MLS. All rights reserved.

Data last updated 10/7/2026

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