138 N SOTO STREET, LOS ANGELES CA 90033

  • 13,924 sq.ft.
  • 8,910 sq.ft. lot
offered at $3,450,000
MLS#:22201635
Status: Active // Property Type:
County: Los Angeles // Year Built: 1930

Property Description

ASSUMABLE FINANCING | A 20-unit investment opportunity in Boyle Heights between 1st St and E Cesar Chavez Ave, a rapidly gentrifying submarket with easy access to the Arts District in Downtown Los AngelesThe property features a unit mix of 12 singles, six one-bedrooms, and two two-bedrooms; the building is 100% occupied and seven of the units have been renovated; opportunity to further add value as units turn and achieve over 38% rental upside through interior renovationsGated access from both the front and rear of the property; the building is separately metered for gas and electric and has common area laundry with two washers and two dryersStable cash flow at a 4.26% CAP rate on current income with significant upside; a pro forma CAP rate of 6.89% is projected upon stabilizationHigh Walk Score of 94, a plethora of retail within walking distance on 1st St, E Cesar Chavez Ave, and 4th St; down the street from the Metro L rail line as well as multiple metro local bus line stops on Soto & 1st streetConvenient access to the 1 St Viaduct for a quick commute to the Arts District and Downtown Los Angeles; located just off the 10, 60, and 101 Freeways.

Listing Courtesy of Neema Ahadian, Marcus & Millichap

Interior Features

Interior Features: Ceiling Fan(s) // Heating: Natural Gas
FOR MORE INFORMATION, PLEASE CONTACT AGENT:
  • raj qsar
    CEO | Owner |
    CalBRE# 01744847
    • cell 714.412.5019
    • office 949.612.2535
    email Raj

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