Los Angeles, CA 90033 138 N Soto Street
$3,495,000
42 more
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
Home Details
We are delighted to introduce a prime investment opportunity: a well-kept 20-unit building in Los Angeles’ Boyle Heights neighborhood. Strategically located between 1st Street and Cesar E Chavez Avenue, this ±13,924 square foot property sits on a ±9,283 square foot lot at 138 N Soto Street.
This dynamic location places your investment at the epicenter of Los Angeles’ cultural and commercial scene. Residents will enjoy easy access to Downtown Los Angeles, the L.A. Live entertainment complex, USC Health Sciences Campus, Dodger Stadium, Union Station and more. Major freeways (10, 5, 60, and 101) are just minutes away, along with a diverse array of shopping centers, restaurants, museums, and retailers. The property’s proximity to the bustling retail corridors on Cesar Chavez Boulevard and Soto Street offers unparalleled convenience and opportunity for future appreciation.
This investment opportunity is in a highly sought-after rental market within Boyle Heights. Over 75% of Boyle Heights residents occupy investment-owned properties, underscoring the strong demand for rental housing in the area. Positioned amidst a thriving working class with a steady need for well-maintained housing and easy access to major employers, 138 N Soto Street offers the perfect blend of value and income potential. Nearly 50% of the units have been renovated interiors, providing modern amenities, and attracting discerning renters. Individual units boast spacious kitchens with stainless-steel appliances*, horizontal blinds, ample hallway storage, hardwood-like flooring, large closets, built-in drawers, and wall air conditioning. This pet friendly property also features low-maintenance landscaping, secured access, and an on-site laundry facility.
138 N Soto Street is a secure long-term investment ideal for any investor seeking a strong return. This opportunity can be a great investment for a new or seasoned investor.
*In Select Units
Presented By: ERIC CHEN with CB RICHARD ELLIS; 626-757-5717
Interior Features for 138 N Soto Street
Other Interior Features
Air Conditioning Y/NYes
Basement (Y/N)No
Common WallsTwoCommonWallsOrMore
Fireplace Y/NNo
Heating Y/NYes
Laundry FeaturesCommonArea
Total Stories2
Other Rooms
Entry Level1
General for 138 N Soto Street
Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate5.7
Carport Spaces0.0
Carport Y/NNo
CityLos Angeles
Community FeaturesCurbs, Sidewalks
CoolingWallWindowUnits
CountyLos Angeles
Days on Market
DirectionsMerge onto I-10 W, Take exit 19C for Soto St, Use the left 2 lanes to turn left onto N Soto St
Electric Expense12788.0
Electric On Property Y/NNo
Entry Location1
Fuel Expense5895.0
Garage Spaces0.0
Garage Y/NNo
Gross Income340096.0
HeatingWallFurnace
Home Owner AssocNo
Home Warranty Y/NNo
Insurance Expense7000.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Lot Size Square Feet8910.0
Lot Size UnitsSquareFeet
MLS AreaBOYH - Boyle Heights
MaintenanceExpense11546.0
MobileHomeRemainsYNNo
Net Operating Income199071.0
New ConstructionNo
Number of Units Leased17
NumberOfUnitsTotal20
Open Parking Spaces0.0
Operating Expense130822.0
Pool FeaturesNone
Private PoolNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NYes
Senior Community Y/NNo
SewerPublicSewer
Spa FeaturesNone
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Tax Lot19
Taxes$43,739
TermsCash, CashToNewLoan
Total Actual Rent335556.0
Trash Expense6217.0
View Y/NNo
Water Sewer Expense12789.0
Waterfront Y/NNo
Year Built1930
Year Built SourceAssessor
ZoningLAR4
Exterior for 138 N Soto Street
Building Area Total13924.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesSixteenToTwentyUnitsAcre
Lot Size Acres0.2045
Lot Size Area8910.0
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters20
Number of Separate Gas Meters20
Number of Separate Water Meters1
Open Parking Y/NNo
Parking FeaturesOnStreet
SpaNo
Total Parking0.0
Water SourcePublic
Additional Details
Price History
Stephen Pliaconis
Pliaconis Realty Group REALTOR® DRE 02015480