$4,750,000
323 Soto Street, Los Angeles 90033
1
Bed
2
Baths
10,364
Square feet
6,993
Lot Size
40
# Of Units
Listing Agent
David Weinberger - Keller Williams Studio City13 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.
Facts & Features
MLS® # | 24362963 |
---|---|
Price | $4,750,000 |
Bedrooms | 1 |
Bathrooms | 2.00 |
Square Footage | 10,364 |
Lot Size | 6,993 |
Year Built | 1929 |
Type | Residential Income |
Status | Active |
# Of Units | 40 |
Community Information
Address | 323 Soto Street |
---|---|
Area | BOYH - Boyle Heights |
City | Los Angeles |
County | Los Angeles |
Zip Code | 90033 |
Amenities
Is Waterfront | No |
---|---|
Has Pool | No |
Pool | None |
Interior
Appliances | Washer |
---|---|
Cooling | Wall/Window Unit(s) |
Has Basement | No |
Fireplace | No |
Fireplaces | None |
# of Stories | 2 |
Stories | Two |
Additional Information
Date Listed | March 1st, 2024 |
---|---|
Days on Market | 57 |
Zoning | LAC1 |
Foreclosure | No |
Short Sale | No |
RE / Bank Owned | No |
Listing Details
Agent | David Weinberger |
---|---|
Office | Keller Williams Studio City |