Try Advanced Home Search

Hometuity Connects Directly To The MLS and Updates Every 5 Minutes

Property Description

13 Units Delivered Vacant! 323 N. Soto Street presents an exceptional opportunity for investors in the heart of Boyle Heights. This well-maintained two-story apartment building, constructed in 1929, encompasses 10,364 square feet and comprises 40 units on a 6,993 square-foot lot. The unit mix is comprised of of (36) Studios/Bachelor units with bathrooms & (4) 1 Bed + 1 Bath units, catering to a diverse range of tenants. With 13 vacancies currently available, significant potential exists for a new owner to implement a value-add strategy. Conducting renovations of individual units and common areas to reposition the asset can result in market rental rates offering flexibility for short-term or long-term tenancies. A new owner can also participate in the Section 8 Housing program through entities like HACLA or its subsidiary programs such as PATH. Strategically located in the vibrant Boyle Heights neighborhood, just west of downtown Los Angeles, 323 N. Soto Street benefits from its central location. The area boasts a dense population and a strong working-class community. Residents enjoy convenient access to amenities such as MacArthur Park, popular taco trucks, and efficient public transportation options, including bus and metro lines. Major employers such as Kaiser Permanente, Bank of America, and the Los Angeles County Department of Public Health are nearby. This property represents an exceptional investment opportunity in a dynamic and rapidly evolving neighborhood, offering immediate rental income potential and long-term value appreciation. **Buyer to verify Bed/Bath count and unit type.* 323 N. Soto St. can be purchased with 2221 Michigan Ave. & 1818 N. Broadway as a portfolio.

Features
: Wall/window Unit(s)
2
: Washer Included, Community
0
Additional Information
Keller Williams Studio City
0
CLW-C115165
CLW-X74052
David
5175010020
: Standard
Two
32

Multi-Family For Sale

323 Soto Street, Los Angeles, California 90033

10,364 Sqft
$4,750,000
Listing ID #24362963
Basic Details
Status : Active
DaysOnMarket : 32
Property Type : Multi-Family
Listing Type : For Sale
Listing ID : 24362963
Price : $4,750,000
Living Area : 10,364 Sqft
Lot Size : 6,993 Sqft
Year Built : 1929
Country : US
State : California
County : Los Angeles
City : Los Angeles
Zipcode : 90033
Price Per Square Foot : $458
ModificationTimestamp : 2024-04-02 09:54:17
Mortgage Calculator
$
$ %
years
%
$ %per year
$ %per year

$
Contact Agent