323 N. Soto Street presents an exceptional investment opportunity in the heart of Boyle Heights. With 13 UNITS DELIVERED VACANT, significant potential exists for a new owner to implement a value-add strategy. 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. UNIT MIX: (36) Studios/Bachelor units with bathrooms and (4) 1 Bed + 1 Bath units. Renovating individual units and common areas can reposition the asset to achieve market rental rates, offering flexibility for both short-term and long-term tenancies. Participating in the Section 8 Housing program through entities like HACLA or its subsidiary programs such as PATH can further enhance the property’s appeal. Ideally situated near renowned schools, the property is just 2.5 miles from Cal State LA, 3 miles from the USC Health Sciences Campus, and a 10-15 minute drive from East Los Angeles College, offering convenience for student tenants.
Property Details
Price:
$4,750,000
MLS #:
24362963
Status:
Pending
Baths:
0
Address:
323 N Soto Street
Type:
Residential Income
Neighborhood:
boyhboyleheights
City:
Los Angeles
Listed Date:
Mar 1, 2024
State:
CA
ZIP:
90033
Lot Size:
6,993 sqft / 0.16 acres (approx)
Year Built:
1929
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Schools
Interior
Cooling
Wall/ Window Unit(s)
Fireplace Features
None
Exterior
Parking Spots
0.00
Pool Features
None
Spa Features
None
Stories Total
2
Financial
Map
Community
- Address323 N Soto Street Los Angeles CA
- AreaBOYH – Boyle Heights
- CityLos Angeles
- CountyLos Angeles
- Zip Code90033
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Courtesy of Keller Williams Studio City. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than include the name of the listing broker. Neither the listing company nor shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2024. California Regional Multiple Listing Service. All rights reserved.
323 N Soto Street
Los Angeles, CA
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