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
Price:
$3,488,888
MLS #:
26998007
Status:
Active
Beds:
23
Baths:
11
Type:
Single Family
Neighborhood:
674montebello
Listed Date:
Oct 7, 2026
Finished Sq Ft:
8,990
Total Sq Ft:
8,990
Lot Size:
13,858 sqft / 0.32 acres (approx)
Year Built:
1962
See this Listing
Schools
Interior
Levels
U
Exterior
Direction Faces
W
Parking Spots
11
Parking Total
11
Spa Features
NO
Financial
Map
Community
- Address1244 S Spruce ST Montebello CA
- CityMontebello
- CountyLos Angeles
- Zip Code90640
Subdivisions in Montebello
Market Summary
Current real estate data for Single Family in Montebello as of Oct 14, 2026
110
Single Family Listed
78
Avg DOM
304
Avg $ / SqFt
$720,660
Avg List Price
Property Summary
- 1244 S Spruce ST Montebello CA is a Single Family for sale in Montebello, CA, 90640. It is listed for $3,488,888 and features 23 beds, 11 baths, and has approximately 8,990 square feet of living space, and was originally constructed in 1962. The current price per square foot is $388. The average price per square foot for Single Family listings in Montebello is $304. The average listing price for Single Family in Montebello is $720,660.
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1244 S Spruce ST
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