$4,750,000 Price Analysis   ♡   Los Angeles, CA 90033 40 bed 39 bath 10,364 SqFt ($458/SqFt) 6,993SqFt lot. Built 1929 Listed 2024-03-02, Taxes $26,441 | Ⓧ USDA Ineligible due to price & location near Los Angeles |
323 N.
* Has Contingent Offer *Soto Street presents an exceptional investment opportunity in the heart of Boyle Heights. With 13 UNITS DELIVERED VACANT, significnt potential exi sts 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 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.
Presented by David Weinberger at
Keller Williams Realty-Studio City.
Property MLS #24-362963 from TheMLSCLAW
Full Bathrooms: 39
Laundry Features: Community
Lot Size Acres: 0.1605372
Lot Size Dimensions: 50x140
Lot Size Source: Vendor Enhanced
Lot Size Square Feet: 6993
Other Equipment: Washer
Calculated Total Monthly Association Fees: 0
Number of Units: 40
Unit Features: 1 BathsTotal: 1, 1 SquareFeet: 52200, 2 BedsTotal: 1, 2 BathsTotal: 1, 2 SquareFeet: 6300
County: Los Angeles
Cap Rate: 6.5
Directions: Cross Streets: E Cesar Chavez & N Soto St
Source Property Type: Residential Income
Area: Boyle Heights
Source Neighborhood: Boyle Heights
Parcel Number: 5175-010-020
Postal Code Plus 4: 1854
Property Location: City
Zoning: LAC1
Source System Name: C2C
| Year | Assessments Building + Land Total | Tax |
|---|---|---|
| 2022 | $1,624,149 + $541,765 $2,165,914 | $26,441 |
| 2021 | $1,592,303 + $531,143 $2,123,446 | $26,073 |
| 2020 | $1,575,976 + $525,697 $2,101,673 | $26,329 |
| 2019 | $1,545,075 + $515,390 $2,060,465 | $25,353 |
| 2018 | $1,514,780 + $505,285 $2,020,065 | $25,115 |
| 2017 | $1,485,079 + $495,378 $1,980,457 | $24,578 |
| 2016 | $1,455,960 + $485,665 $1,941,625 | $23,937 |
| 2015 | $1,434,091 + $478,370 $1,912,461 | $23,592 |
| 2014 | $1,406,000 + $469,000 $1,875,000 | $23,695 |
| 2013 | $957,000 + $291,000 $1,248,000 | $16,123 |
| 2012 | $957,000 + $291,000 $1,248,000 | $16,651 |
| 2010 | $957,000 + $291,000 $1,248,000 | $20,294 |
| 2009 | $1,173,000 + $357,000 $1,530,000 | $19,555 |
| 2009 | $1,170,219 + $356,153 $1,526,372 | $19,555 |
| 2008 | $1,150,000 + $350,000 $1,500,000 | $18,731 |
| 2007 | $887,400 + $285,600 $1,173,000 | $14,591 |
$4,750,000
TheMLSCLAW
Listing removed 2023-03-11
$0
RentalBeast
Listed for rent 2023-03-09
$1,000
RentalBeast
Listing removed 2020-09-07
$0
AppfolioUnits
Price Changed for rent 2020-09-05
$940
AppfolioUnits
Price Changed for rent 2020-08-21
$895
AppfolioUnits
Listed for rent 2020-08-16
$875
AppfolioUnits
Sold 2013-11-13
$1,875,000
Public Record
Sold 2007-10-16
$1,500,000
Public Record
Sold 2005-07-01
$1,150,000
Public Record
Listing removed 2004-08-31
$1,350,000
ITECH
Listed 2004-03-12
$1,350,000
ITECH
Sold 1981-07-30
$175,000
Public Record
Year Built: 1929
Levels: Two Level
Living Area Source: Vendor Enhanced
Property Age: 95
Levels or Stories: 2
Building Total Stories: 2
Year Built Source: Vendor Enhanced
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The property loan eligibility may be subject to additional requirements beyond geographical location including but not limited to the condition of the property. Speak with a real estate professional to find out more about the eligibility of a specific property.