323 N Soto ST new Save Request In-Person Tour Request Virtual Tour
Los Angeles,CA 90033
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR25091164
HOA Y/N No
Year Built 1929
Lot Size 6,991 Sqft
Property Sub-Type Apartment
Property 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 LA's 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.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning LAC1
Interior
Fireplace No
Laundry Common Area
Exterior
Parking Features None
Pool None
Community Features Urban
Private Pool No
Building
Lot Description Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 5175010020
Energy Description 7143.0
Acceptable Financing Cash,Cash to New Loan,Conventional,Submit
Listing Terms Cash,Cash to New Loan,Conventional,Submit
Special Listing Condition Standard