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Listed by Logan Altman • Altman Apartments LLC
$4,450,000
Est. payment /mo
6,993 Sqft Lot
Active
323 N Soto ST Los Angeles, CA 90033
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Key Details
Property Type Commercial
Listing Status Active
Purchase Type For Sale
MLS Listing ID CRSR25091164
Originating Board California Regional MLS
Year Built 1929
Lot Size 6,993 Sqft
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 stabilizati
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Interior
Laundry Laundry Area
Exterior
Parking Features No Parking
Pool None
Building
Water District - Public
Others
Tax ID 5175010020
Special Listing Condition Not Applicable
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