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323 Soto Street, Los Angeles, CA 90033
Priced at Only: $4,000,000
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Address: 323 Soto Street, Los Angeles, CA 90033
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  • MLS#: SR26043369 ( Apartment )
  • Street Address: 323 Soto Street
  • Viewed: 4
  • Price: $4,000,000
  • Price sqft: $0
  • Waterfront: No
  • Year Built: 1929
  • Bldg sqft: 0
  • Days On Market: 35
  • 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
    Introducing The Silver on Soto Apartments an exceptional investment opportunity in the thriving Boyle Heights neighborhood! This renovated 40 unit property at 323 N Soto Street, Los Angeles CA 90033 presents a turn key asset with recent upgrades totaling over $300,000, including modern amenities and revitalized interiors. Strategically designed with a "Micro Unit" model, catering to the market demand for efficient living spaces, this property boasts a mix of bachelor units, maximizing revenue potential. With a current occupancy rate of 95% and a strong financial performance, this investment offers a solid NOI, presenting a current cap rate of 7.29% and a promising pro forma cap rate of 9.61%. Discover the potential for excellent returns and minimal capital expenditure requirements at The Silver on Soto Apartments! Turn Key Renovated Asset in High Growth Boyle Heights: This 40 unit apartment building underwent a comprehensive renovation in 2025. With over $300,000 in recently completed upgradesincluding new plumbing, electrical systems, paint, flooring, and cabinetrythe property offers a modernized, turn key investment with minimal immediate capital expenditure requirements. Strategic "Micro Unit" Model Maximizing Market Efficiency: Composed primarily of bachelor units (95% of the unit mix), the property utilizes a high efficiency micro unit model that serves a critical budget oriented demographic in Los Angeles. This design allows for a competitive entry level price point while still yielding an impressive actual rent of $4.38 per square foot, significantly outperforming traditionally sized apartments in the area. Substantial Revenue Upside through "Mark to Market" Strategy: The property features a significant valuation gap to be captured, with a projected pro forma CAP rate of 9.61% and a Cash on Cash return of 15.24%. Aligning current leases with market rates provides a clear pathway to increase monthly income from $42,241 to an estimated $52,990, representing a nearly 25% revenue growth opportunity. Exceptional Scalability and Portfolio Opportunity: For investors seeking immediate scale, this asset can be coupled with the nearby 150 N Soto Street property to instantly add 101 units to a growing portfolio in a prime rental market. Located within just two blocks of each other, managing these properties together offers a unique opportunity to scale operational efficiency and maximize overall profits.
Features
Appliances
  1. Microwave
  2. Refrigerator
  3. Water Heater Central
  4. Electric Cooktop
Assessments
  1. Unknown
  2. Buyer to Verify
Association Fee
  1. 0.00
Building Area Total
  1. 10364.00
Cable Tv Expense
  1. 12000.00
Carport Spaces
  1. 0.00
Commoninterest
  1. Community Apartment
Common Walls
  1. No Common Walls
Construction Materials
  1. Frame
  2. Stucco
  3. Drywall Walls
Cooling
  1. None
Country
  1. US
Electric Expense
  1. 47279.00
Entry Location
  1. Soto Street
Fencing
  1. Wrought Iron
Fireplace Features
  1. None
Flooring
  1. Laminate
Fuel Expense
  1. 5633.00
Garage Spaces
  1. 0.00
Heating
  1. Natural Gas
  2. Wall Furnace
Insurance Expense
  1. 27735.00
Interior Features
  1. Wired for Data
  2. Quartz Counters
  3. Ceiling Fan(s)
  4. 2 Staircases
Laundry Features
  1. Community
  2. Common Area
Levels
  1. Two
Lockboxtype
  1. None
Lot Features
  1. Rectangular Lot
  2. Near Public Transit
  3. Over 40 Units/Acre
Netoperatingincome
  1. 291704.00
Newtaxesexpense
  1. 48000.00
Parcel Number
  1. 5175010020
Parking Features
  1. None
Pest Control Expense
  1. 2160.00
Pool Features
  1. None
Professionalmanagementexpense
  1. 20796.00
Property Type
  1. Apartment
Property Condition
  1. Turnkey
Road Frontage Type
  1. City Street
  2. Alley
Road Surface Type
  1. Paved
Security Features
  1. Smoke Detector(s)
  2. Resident Manager
Sewer
  1. Public Sewer
Sourcesystemid
  1. CRM
Sourcesystemkey
  1. 457480410:CRM
Spa Features
  1. None
Totalexpenses
  1. 228201.00
Trash Expense
  1. 6449.00
Uncovered Spaces
  1. 0.00
Utilities
  1. Cable Connected
  2. Cable Available
View
  1. City Lights
  2. Neighborhood
Water Sewer Expense
  1. 0.00
Water Source
  1. Public
Year Built
  1. 1929
Year Built Source
  1. Assessor
Zoning
  1. C1-1-CUGU
Headshot for Associate Xavier Gomez
  1. Xavier Gomez, BrkrAssc,CDPE
  2. RE/MAX College Park Realty
  3. BRE 01736488
  4. Fax: 714.975.9953
  5. Mobile: 714.478.6676
  6. salesbyxavier@gmail.com
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