323 Soto Street

Los Angeles, CA 90033

$4,750,000

Listed Price
N/A

bed Beds

N/A

shower Baths

N/A sqft

straighten $458 / sqft

1929

calendar_month Built

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.

Interior Features

Bedroom Information
Bedrooms N/A
Bathroom Information
Bathrooms N/A
Fireplace Information
Features None
Interior Information
Cooling Type Wall/Window Unit(s)

Listing Information

Address 323 Soto Street
City Los Angeles
State CA
Zip 90033
County Los Angeles
Listing Agent David Weinberger DRE#01349349
Co-Listing Agent Megan Husri DRE#02089901
Courtesy Of Keller Williams Studio City
MLS 24362963
List Price $4,750,000
Status Active
Type Residential Income
Structure Size N/A
Lot Size 6,993
Year Built 1929
DOM 32

Exterior Information

Maps

Listing information courtesy of: David Weinberger, Megan Husri, Keller Williams Studio City . *Based on information from the Association of REALTORS/Multiple Listing as of Apr 2nd, 2024 at 9:54 AM and/or other sources. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.