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    422 N Soto St

    Los Angeles, CA 90033
    • $1,310,000
    • STATUS: Active
    • ON SITE: 45 days
    • ID#: 21-708992
    Price Reduced
    UPDATED: 53 min ago
    $1,310,000
    • 15
      BEDS
    • 0.14
      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 the Combined LA/Westside Multiple Listing Service as of 2021-05-09T20:42:15.627. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
    www.brandiprattrealestate.com/homes/115408839
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    422 N Soto St Los Angeles, CA 90033

    • Price: $1,310,000
    • Status: Active
    • Updated: 53 min ago
    • ID#: 21-708992
    15
    Beds
    0
    Baths
    0
    ½ Baths
    0.14
    Acres
    2,992
    SQFT
    $438
    $/SQFT
    1895
    Built
    Neighborhood:
    Boyle Heights
    County:
    Los Angeles
    Area:
    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.
    Exterior Features

    Lot Size Area 5912 Other Structures Other Parking Garage Other Total Parking 6

    Interior Features

    Baths Total 6.00 Cooling None Equipment Other Heating Other

    Property Features

    Assessed Total Value 1515200 Gross Income 119844 Gross Operating Income 119249 Like Units1 15 Net Operating Income 70645.00 Number Of Buildings 1 Number Of Units 15 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Estimated Total Annual Expense 48604 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lac1

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2021-05-09T20:42:15.627. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
     
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    eXp Realty of California, Inc.
    2603 Camino Ramon, Suite 200
    San Ramon CA, 94583