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    422 N Soto Street

    Los Angeles (City), CA 90033
    • $1,310,000
    • STATUS: Active
    • ON SITE: 52 days
    • ID#: 21708992
    UPDATED: 38 min ago
    $1,310,000
    • 0
      BEDS
    • 0.13
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 2,992
      SQFT
    • $438
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1895
    County:

    School Ratings & Info

    Description

    This property offers an investor the chance to acquire 15 apartment units in Los Angeles for less than $95,000 per unit. Several of the apartments are SRO-type units, which have historically been developed with the intention to provide housing to renters flocking to the city looking for work -- these units were purposely constructed to be efficient and affordable. This is an ideal product for the Boyle Heights market, since its located within three miles of California's largest employment hub Downtown Los Angeles. The property currently offers a 5% CAP Rate to a new investor with potential rental upside totaling approximately 58%. The property offers nearly 3,000 square feet of living space on almost 6,000 square feet of land. In addition to its 15 income-producing units, the open space at the rear of the parcel may provide an additional revenue stream to a new investor via parking income.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-16T17:32:06.727. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.
    www.sandiegohomesdirect.com/homes/115410775
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    422 N Soto Street Los Angeles (City), CA 90033

    • Price: $1,310,000
    • Status: Active
    • Updated: 38 min ago
    • ID#: 21708992
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.13
    Acres
    2,992
    SQFT
    $438
    $/SQFT
    1895
    Built
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    This property offers an investor the chance to acquire 15 apartment units in Los Angeles for less than $95,000 per unit. Several of the apartments are SRO-type units, which have historically been developed with the intention to provide housing to renters flocking to the city looking for work -- these units were purposely constructed to be efficient and affordable. This is an ideal product for the Boyle Heights market, since its located within three miles of California's largest employment hub Downtown Los Angeles. The property currently offers a 5% CAP Rate to a new investor with potential rental upside totaling approximately 58%. The property offers nearly 3,000 square feet of living space on almost 6,000 square feet of land. In addition to its 15 income-producing units, the open space at the rear of the parcel may provide an additional revenue stream to a new investor via parking income.
    Interior Features

    Cooling None Cooling YN No

    Property Features

    Gross Income 119844 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 70645 Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning Lac1

    Listing provided courtesy of Roderick 'Rick' Raymundo of Marcus & Millichap


    Based on information from California Regional Multiple Listing Service, Inc. as of 2021-05-16T17:32:06.727. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Compass. Licensed in the State of California, USA.
     
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