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(323) 864-4211
Linda Roth Burrell
1244 S Spruce St, Montebello, CA 90640
- $3,488,888
- 23
- BD
- 11
- BA
- 8,990
- SqFt
- List Price
- $3,488,888
- MLS#
- 26998007
- Year Built
- 1962
- Bedrooms
- 23
- Bathrooms
- 11
- Living Sq. Ft
- 8,990
- Lot Size
- 13,858
- Days on Market
- 10
- Property Type
- Multifamily
- Stories
- 2
Property 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.
Additional Information
- Other Buildings
- None
- Pool Description
- None
- Heat
- Other
- Cooling
- Other
- Number of Cars in Garage
- Covered Parking
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