Presenting for sale: A Multi-Family 40 unit newly remodeled residential community located in Historic Boyle Heights. This property has 38 studios and 2 one bedrooms. 17 units have been renovated with new flooring, kitchenettes, and sleek finishes. Tenants have access to the amenities of on-site laundry, high speed Wi-Fi internet, and proximity to the historic pedestrian shopping mall of Cesar Chavez Avenue. The new video surveillance cameras are great for security and the upgraded electrical system brings these rentals into the modern era!
This 40-unit 1920''s residential hotel building in historic LA’s Boyle Heights consists of 2 one-bedrooms and 38 studios. This asset was built in 1929 with a Certificate of Occupancy that reads “2 Story, Class D, 40Rooms, 1 Apt., Hotel”. This property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO) and may only be used for long term residential occupancy. The property is registered as 40 units with the Los Angeles Housing Department (LAHD). The property was newly renovated in 2025 with new kitchenettes, electrical, flooring, paint, and more. This building is priced to sell at a 6.51% cap rate and 8.52 GRM on current income. There is 25.2% upside opportunity on rents for a potential 9.47% cap rate and 6.81 GRM at stabilization.
This 40-unit 1920''s residential hotel building in historic LA’s Boyle Heights consists of 2 one-bedrooms and 38 studios. This asset was built in 1929 with a Certificate of Occupancy that reads “2 Story, Class D, 40Rooms, 1 Apt., Hotel”. This property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO) and may only be used for long term residential occupancy. The property is registered as 40 units with the Los Angeles Housing Department (LAHD). The property was newly renovated in 2025 with new kitchenettes, electrical, flooring, paint, and more. This building is priced to sell at a 6.51% cap rate and 8.52 GRM on current income. There is 25.2% upside opportunity on rents for a potential 9.47% cap rate and 6.81 GRM at stabilization.
Property Details
Price:
$4,450,000
MLS #:
SR25091164
Status:
Active
Baths:
0
Address:
323 N Soto Street
Type:
Residential Income
Subtype:
Apartment
Neighborhood:
boyhboyleheights
City:
Los Angeles
Listed Date:
Apr 25, 2025
State:
CA
ZIP:
90033
Lot Size:
6,993 sqft / 0.16 acres (approx)
Year Built:
1929
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Schools
Interior
Exterior
Community Features
Urban
Garage Spaces
0.00
Lot Features
Rectangular Lot
Parking Features
None
Parking Spots
0.00
Pool Features
None
Sewer
Public Sewer
Stories Total
2
Water Source
Public
Financial
Map
Community
- Address323 N Soto Street Los Angeles CA
- AreaBOYH – Boyle Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90033
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323 N Soto Street
Los Angeles, CA
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