Remodeled Apartment
For Sale
$1,395,000
1109 South Spruce Street, Montebello, CA 90640
Five-unit apartment property with updated interiors, covered parking, and access to regional employment, retail, and transit connections.
Property Size3,550 SF
Lot Size0.13 Acres
Price / SF$392.96
Days on Market50
Property Features for 1109 South Spruce Street
General Information
Standard status
Active
Size
3,550 SF
Lot size
0.13 Acres
Property subtype
Multifamily
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
1 x 1BR/1BA, 4 x 2BR/1BA
Multifamily Units
5
Additional Details
Cap Rate
6.29%
Amenities
well-manicured front yard with mature landscaping
Listing Agency:
CB RICHARD ELLIS
Listed By:
Eric Chen · License #01489184
(909) 418-2071
Source:
Cbre
Added: Aug 19
Changed: Sep 27
Last Checked: Oct 5 at 4:20PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of CB RICHARD ELLIS
Investment Insights
Based on property information with market context.
This 4+1-unit apartment property includes one 1-bedroom/1-bathroom residence and four 2-bedroom/1-bathroom residences averaging 710 SF. The approximately 3,550 SF building sits on an approximately 5,698 SF lot. Units feature laminate plank flooring, equipped kitchens with stainless steel appliances, dishwashers and refrigerators, split wall AC and heating, mirrored closets, recessed lighting, and cabinet storage. The front residence has a remodeled kitchen and bathroom, new flooring, washer/dryer hookups, and views toward an adjacent park. Covered and street parking, mature landscaping, and a maintained front yard complete the property.
The property is located near the Shops at Montebello and Citadel Outlets, with access to the 605, 10, 60, and 210 Freeways. The Montebello/Commerce Metrolink Station provides rail service to LA Union Station. Nearby employment sources identified in the trade area include Cal State Los Angeles, USC, Beverly Hospital, and the City of Montebello. The property is generating a 6.29% cap rate, with a pro forma cap rate of 7.09%.
The property is located near the Shops at Montebello and Citadel Outlets, with access to the 605, 10, 60, and 210 Freeways. The Montebello/Commerce Metrolink Station provides rail service to LA Union Station. Nearby employment sources identified in the trade area include Cal State Los Angeles, USC, Beverly Hospital, and the City of Montebello. The property is generating a 6.29% cap rate, with a pro forma cap rate of 7.09%.
Key Highlights
- 4+1‑unit apartment property with one 1‑bedroom/1‑bathroom unit and four 2‑bedroom/1‑bathroom units
- Approximately 3,550 SF building on an approximately 5,698 SF lot
- Units average 710 SF and feature updated interiors, stainless steel appliances, and split wall AC and heating
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,122
Cap Rate
4.09%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,440
$1.1M
Cap Rate 7%
$816,029
$816.0K
Cap Rate 9%
$634,689
$634.7K
Market Conditions
NOI Build-Up for 3,550 SF
Gross rent
$112.9K $31.80/SF
− Vacancy
−$9.0K −$2.54/SF
EGI
$103.9K $29.26/SF
− OpEx
−$46.7K −$13.17/SF
NOI
$57.1K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,142,440
Cap Rate 7%
$816,029
Cap Rate 9%
$634,689
Alternative Uses
Best Use
Apartment 5plus
$816.0K
$714.0K – $952.0K
NOI $57,122 @ 7.0% cap · market cap 4.09%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.90M
$1.66M – $2.22M
NOI $133,046 @ 7.0% cap · market cap 9.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
5
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
738
Businesses Nearby
Explore this area
Business Placement
Demographics for 90640, CA
62,678
Population
20,438
Households
3.1
Avg Household Size
38
Median Age
22%
College-Educated
74%
High-School Grad
8.3 sq mi
ZIP Area
7,552
Density / Sq Mi
$74,833
Median Household Income
$37,983
Median Earnings
$1,771
Median Rent
$660,600
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Apartment building - Five-unit apartment property with updated interiors, covered parking, and access to regional employment, retail, and transit connections.
Where is this apartment building located?
The property is located at 1109 South Spruce Street Montebello, CA.
What is the asking price?
The asking price for this property is $1,395,000.
What are key features of this property?
This property features: 4+1‑unit apartment property with one 1‑bedroom/1‑bathroom unit and four 2‑bedroom/1‑bathroom units; Approximately 3,550 SF building on an approximately 5,698 SF lot; Units average 710 SF and feature updated interiors, stainless steel appliances, and split wall AC and heating
