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    The Largest CRE Database in the US with Over 1 Million Listings
    Property profile & analytics

    244 Spruce St Montebello, CA 90640-5137

    • Apartment buildings
    • 2,514 SF
    • 0.18 lot acres
    OFF-MARKET
    Last Sale
    Dec 02, 2020
    $745,000
    Value Estimations
    $755,000
    Show details
    Cap Rate Potential
    5.4%
    Apartment buildings
    Location Intelligence
    Property ID
    US09-6695127
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • Apartment buildings

    Property Details for 244 Spruce St

    Year built
    1948
    Construction
    WOOD
    Lot size
    0.18 lot acres
    Property size
    2,514 SF
    Zone code
    MNR3YY
    Property type
    Apartment buildings
    APN
    6350-008-025
    APU
    6350008025

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

      Method
      Estimation
      Statistic approach
      $755,000
      ML approach
      $765,000

    • CAP approach

      CAP Return
      Estimation
      6%
      $675,000
      6.5%
      $620,000
      7%
      $580,000

    • Comparable approach

      Method
      Estimation
      Statistic Estimate
      $819,000
      Market price range: $344k - $819k

    • Alternative Use

      Use
      Estimation
      APARTMENT HOUSE (5+ UNITS)
      $605,000
      Current use
      AUTO REPAIR, GARAGE
      $1,165,000
      Change: +93% Conversion: Difficult
      MEDICAL BUILDING
      $1,145,000
      Change: +89% Conversion: Moderate
      WAREHOUSE, STORAGE
      $740,000
      Change: +22% Conversion: Difficult
      RETAIL STORES
      $725,000
      Change: +20% Conversion: Difficult
      COMMERCIAL (GENERAL)
      $685,000
      Change: +13% Conversion: Moderate
      OFFICE BUILDING
      $660,000
      Change: +9% Conversion: Moderate

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Montebello
    County
    Los Angeles
    State
    California
    Longitude
    -118.111
    Latitude
    34.0069
    CBSA code
    31080
    CBSA name
    LOS ANGELES-LONG BEACH-ANAHEIM, CA METROPOLITAN STATISTICAL AREA

    Property Tax & Assessments

    Tax date
    Tax Amount
    Assessed Land Value
    Assessed Improvement Value
    Total Assessed Value
    Applied Tax Rate
    Land Market Value
    Improvement Market Value
    Total Market Value
    2024
    $16,410
    $610,780
    $367,778
    $978,558
    -
    $0.00
    $0.00
    $0.00

    Comparable in this City

    • Value Estimation
      $4,230,000
      26,412 SF

      408 Via Luneto

      APARTMENT HOUSE (5+ UNITS) • 26,412 SF
      408 Via Luneto, Montebello, CA 90640-2968
      View Details
    • Value Estimation
      $5,300,000
      40,137 SF

      514 Wilcox Ave

      APARTMENT HOUSE (5+ UNITS) • 40,137 SF
      514 Wilcox Ave, Montebello, CA 90640-3181
      View Details
    • Value Estimation
      $890,000
      4,971 SF

      124 3rd St

      APARTMENT HOUSE (5+ UNITS) • 4,971 SF
      124 3rd St, Montebello, CA 90640-5362
      View Details
    • Value Estimation
      $765,000
      4,072 SF

      217 4th St

      APARTMENT HOUSE (5+ UNITS) • 4,072 SF
      217 4th St, Montebello, CA 90640-4848
      View Details
    • Value Estimation
      $690,000
      4,349 SF

      238 5th St

      APARTMENT HOUSE (5+ UNITS) • 4,349 SF
      238 5th St, Montebello, CA 90640-4868
      View Details
    • Value Estimation
      $2,575,000
      22,966 SF

      137 Roosevelt Ave

      APARTMENT HOUSE (5+ UNITS) • 22,966 SF
      137 Roosevelt Ave, Montebello, CA 90640-5680
      View Details

    Similar Nearby for Sale

    • $2,200,000
      8,350 SF

      Montebello Mixed-Use Investment

      8,350 SF, 6-unit, high-traffic location.
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      View Details
    • $399,999
      946 SF

      Montebello Condo with Modern Amenities

      Comfortable condo in a gated community with pool and gym.
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    • $1,379,000

      Income Property in Prime Location

      Four-unit property with no rent control, near Downtown Los Angeles.
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    • $2,120,000
      5,986 SF

      Montebello Multifamily Investment Opportunity

      Well-maintained 6-unit multifamily property in North Montebello.
      616 Via Altamira, Montebello, CA 90640
      View Details
    • $550,000
      1,180 SF

      Montebello Commercial Property with Income Potential

      Commercial property with storefront, apartments, parking, and redevelopment potential.
      2322 W Whittier Blvd, Montebello, CA 90640
      View Details
    • $1,500,000
      2,500 SF

      Mixed-Use Building in Montebello

      Mixed-use property with retail/office space and residential unit.
      3527 W Beverly Blvd, Montebello, CA 90640
      View Details

    Similar Nearby for Lease

    • $1.08 SF/Yr
      13,860 SF

      Montebello Warehouse and Office Space

      Mix of office and warehouse space with freeway access.
      501-507 Washington Blvd, Montebello, CA 90640
      View Details
    • $1.59 SF/Yr
      2,304 SF

      Industrial Space in Gated Complex

      Industrial space for lease in Montebello, CA.
      933-945 Greenwood Ave, Montebello, CA 90640
      View Details
    • $1.25 SF/Yr
      26,000 SF

      Industrial Space with Bridge Cranes

      Industrial property featuring bridge cranes and ample power.
      7403 Telegraph Rd, Montebello, CA 90640
      View Details
    • $1.05 SF/Yr
      18,938 SF

      Montebello Warehouse with Dock High

      Warehouse space in Montebello with street frontage and dock-high positions.
      1625-1631 W Washington Blvd, Montebello, CA 90640
      View Details
    • $0.53 SF/Yr
      101,930 SF

      Land with Freeway Visibility

      Land with office building and service facility for lease.
      7433 S Greenwood Ave, Montebello, CA 90640
      View Details
    • $1.40 SF/Yr
      7,500 SF

      7,500 SF Industrial Building

      Industrial building with fenced parking and convenient freeway access.
      1208-1212 S Vail Ave, Montebello, CA 90640
      View Details
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    244 Spruce St
    Montebello, CA 90640-5137
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
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