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23 Beds
11 Baths
8,990 sqft

$3,488,888

1244 S Spruce Street, Montebello CA, 90640

Price per sqft$388.09
Built in1962
Property size8,990 sqft
Property typeResidential
Listed by Shant Sherbetdjian CA DRE# 01713570 with Remax Commercial and Investment Realty 626-657-8150

Overview

Active

Listed Oct 7, 2026

Updated 35h 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
Basement
No

Exterior Features

Lot Size
0.32 Acres

Other Property Details

55+/Senior Community
No
MLS provider logo

Listed by Shant Sherbetdjian CA DRE# 01713570 with Remax Commercial and Investment Realty 626-657-8150

Based on information from the California Regional Multiple Listing Service (CRMLS) as of 10/8/2026. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, the Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. Property locations as displayed on any map are best approximations only and exact locations should be independently verified. Any offer of compensation is made only to participants of the MLS where the listing is filed.

©2026 California Regional Multiple Listing Service (CRMLS) all rights reserved.

Data last updated on 10/8/2026 at 7:28 AM UTC Last Checked: 7:28 AM UTC

 

 

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