323 Soto Street, Los Angeles, CA 90033
  • MLS#: SR25091164 ( Apartment )
  • Street Address: 323 Soto Street
  • Viewed: 3
  • Price: $4,450,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1929
  • Bldg sqft: 0
  • Days On Market: 67
  • Additional Information
  • County: LOS ANGELES
  • City: Los Angeles
  • Zipcode: 90033
  • Provided by: Altman Apartments LLC
  • Contact: Logan Logan
  • California Regional MLS IDX
  • DMCA Notice
  • Description
    Presenting for sale: A Multi Family 40 unit newly remodeled residential community located in Historic Boyle Heights. This property has 38 studios and 2 one bedrooms. 17 units have been renovated with new flooring, kitchenettes, and sleek finishes. Tenants have access to the amenities of on site laundry, high speed Wi Fi internet, and proximity to the historic pedestrian shopping mall of Cesar Chavez Avenue. The new video surveillance cameras are great for security and the upgraded electrical system brings these rentals into the modern era! This 40 unit 1920's residential hotel building in historic LAs Boyle Heights consists of 2 one bedrooms and 38 studios. This asset was built in 1929 with a Certificate of Occupancy that reads 2 Story, Class D, 40Rooms, 1 Apt., Hotel. This property is subject to the Los Angeles Rent Stabilization Ordinance (LARSO) and may only be used for long term residential occupancy. The property is registered as 40 units with the Los Angeles Housing Department (LAHD). The property was newly renovated in 2025 with new kitchenettes, electrical, flooring, paint, and more. This building is priced to sell at a 6.51% cap rate and 8.52 GRM on current income. There is 25.2% upside opportunity on rents for a potential 9.47% cap rate and 6.81 GRM at stabilization.
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Features
Building Area Total
  1. 11408.00
Cable Tv Expense
  1. 1440.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Country
  1. US
Electric Expense
  1. 38211.00
Fuel Expense
  1. 7143.00
Garage Spaces
  1. 0.00
Gardner Expense
  1. 2400.00
Insurance Expense
  1. 20000.00
Laundry Features
  1. Common Area
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. Rectangular Lot
Netoperatingincome
  1. 289664.00
Newtaxesexpense
  1. 55625.00
Otherexpense
  1. 200.00
Otherexpensedescription
  1. fire ext
Parcel Number
  1. 5175010020
Parking Features
  1. None
Pest Control Expense
  1. 2160.00
Pool Expense
  1. 0.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 19216.00
Property Type
  1. Apartment
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 437202297:CRM
Suppliesexpense
  1. 0.00
Totalactualrent
  1. 33268.00
Totalexpenses
  1. 190730.00
Trash Expense
  1. 7568.00
Vacancyallowance
  1. 41856
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Workmanscompensationexpense
  1. 0.00
Year Built
  1. 1929
Year Built Source
  1. Appraiser
Zoning
  1. LAC1