$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.
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-trm tenancies. Participating in the Section 8 Housing program through entities like HACLA or its subsidiary programs such as PATH can further enhanc e 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.