Property Description

We are pleased to present the opportunity to acquire 130 South Soto Street, which is a 5-unit, 23 bedroom multifamily asset built in 2018 operating as a coliving community. The coliving concept allows a new investor to achieve rents higher than market rates by renting out its units per bedroom. This concept attracts tenants because of their short-term or flexible leases, perks like cleaning services, professionally furnished common areas, turn-key amenities, utilities, and sense of community with like-minded individuals who share the same values and lifestyle. The asset is located in Northeast Los Angeles in Boyle Heights, which is a rapidly developing neighborhood. It is strategically located “kitty-corner” to the Gold Line Soto Station. It is a five-minute Uber ride to the Arts District and it has a 94 Walk Score due to its proximity to popular restaurants and cafes like the original Guisados, King Taco, La Monarca Bakery & Cafe, and grocery stores like Food 4 Less. It is also only a five-minute drive to the Los Angeles County + USC Medical Center, which is a strong employment driver for the area. This asset is located in the path of progress. This uniquely positioned, three-story property was built in 2018 and consists of 2 five-bedroom/two-bathroom units, 2 five-bedroom/three-bathroom units, and 1 three-bedroom/one-bathroom unit (previously converted from a one-bedroom/one-bathroom unit). One unit is being rented out by Section 8 while another is master-leased. Each unit has in-unit washer and dryers that produce income, central heat and air-conditioning, and stainless-steel appliances. The building has seven parking spots, which also produce income. The premises is gated and well-secured with a monitoring system. The asset is not subject to AB 1482 or the Rent Stabilization Ordinance since it was built in 2018. This is a remarkable opportunity for a new investor to acquire a rare new construction asset that offers a high cash-on-cash yield in a burgeoning market.

Features
3
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Additional Information
Marcus & Millichap
0
CLW-C107850
CLW-X7515101
Sean
5180003030
: Standard
32

Multi-Family For Sale

130 Soto Street, Los Angeles, California 90033

9,909 Sqft
$3,200,000
Listing ID #21106101
Basic Details
Status : Active
DaysOnMarket : 42
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : 21106101
Price : $3,200,000
Living Area : 9,909 Sqft
Lot Size : 7,455 Sqft
Year Built : 2018
Country : US
State : California
County : Los Angeles
City : Los Angeles
Zipcode : 90033
Price Per Square Foot : $323
ModificationTimestamp : 2021-12-29 11:42:32
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