323 N Soto ST Los Angeles, CA 90033
6,991 Sqft Lot
UPDATED:
Key Details
Property Type Apartment
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
MLS Listing ID SR26043369
Construction Status Turnkey
HOA Y/N No
Year Built 1929
Lot Size 6,991 Sqft
Property Sub-Type Apartment
Property Description
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 upgrades—including new plumbing, electrical systems, paint, flooring, and cabinetry—the 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.
Location
State CA
County Los Angeles
Area Boyh - Boyle Heights
Zoning C1-1-CUGU
Interior
Interior Features Ceiling Fan(s), Multiple Staircases, Quartz Counters, Wired for Data
Heating Natural Gas, Wall Furnace
Cooling None
Flooring Laminate
Fireplaces Type None
Fireplace No
Appliance Electric Cooktop, Microwave, Refrigerator, Water Heater
Laundry Common Area
Exterior
Parking Features None
Fence Wrought Iron
Pool None
Community Features Sidewalks, Urban
Utilities Available Cable Available, Cable Connected
View Y/N Yes
View City Lights, Neighborhood
Private Pool No
Building
Lot Description Over 40 Units/Acre, Near Public Transit, Rectangular Lot
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Construction Status Turnkey
Others
Senior Community No
Tax ID 5175010020
Security Features Resident Manager,Smoke Detector(s)
Energy Description 5633.0
Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit
Special Listing Condition Standard
NEARBY SCHOOLS & PROPERTIES
Lisa Bethel
Advisor | Accredited Buyer's Representative | Seniors Real Estate Specialist® | License ID: 02046953