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23-Bedroom Residential Income - 1244 S Spruce Street, Montebello, CA

$3,488,888

1244 S Spruce Street, Montebello, CA

MLS# 26998007

1244 S Spruce Street, Montebello, CA 90640 - $3,488,888 · 23 bd 11 ba Multi-Family Home for Sale, photo 1 1244 S Spruce Street, Montebello, CA 90640 - $3,488,888 · 23 bd 11 ba Multi-Family Home for Sale, photo 2 1244 S Spruce Street, Montebello, CA 90640 - $3,488,888 · 23 bd 11 ba Multi-Family Home for Sale, photo 3 1244 S Spruce Street, Montebello, CA 90640 - $3,488,888 · 23 bd 11 ba Multi-Family Home for Sale, photo 4 1244 S Spruce Street, Montebello, CA 90640 - $3,488,888 · 23 bd 11 ba Multi-Family Home for Sale, photo 5
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Description

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.

Property details

Bedrooms
23
Bathrooms
11
Square feet
8,990
Year built
1962
Property type
Residential Income
Lot size
13,858 sqft

Location

1244 S Spruce Street • Montebello, CA 90640

More homes for sale and rent in Montebello, CA →

Listing Agent

Shant Sherbetdjian

DRE #: 01713570

Brokerage: Remax Commercial and Investment Realty

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CRMLS

MLS# 26998007

Listed: 10/7/2026 4:26 AM

© 2026 California Regional Multiple Listing Service, Inc.

Based on information from the California Regional Multiple Listing Service, Inc. as of 10/15/2026 12:14 AM. 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 deemed reliable but is not guaranteed accurate by the MLS.

IDX information is provided exclusively for consumers' personal, non-commercial use. Information is deemed reliable but not guaranteed. Buyer should independently verify all information.

Listed by: Remax Commercial and Investment Realty

Equal Housing Opportunity

Advertising Broker: Nalren Corp (CA DRE #02423715)

Licensed in the state of California

Nalren Corp (CA DRE #02423715) is the Advertising Broker for this IDX display. We are not the listing broker for this property. The listing broker/agent information is shown above. Contact the listing agent for inquiries.

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Nalren Corp. · CA DRE #02423715