Address
130 S Soto Street Los Angeles, CA
Price
$ 3,200,000
Property Attributes
  • MLS#21106101
  • TypeIncome
  • CountyLOS ANGELES
  • CityLos Angeles
  • AreaBoyle Heights
  • Zip90033
  • Style
  • Price$ 3,200,000
  • Bedrooms23
  • Full Bathrooms23
  • Half Bathrooms0
  • Sqr Footage9909
  • Lot Size7,455 SqFt
Listing Provided Courtesy Of:
Sean Rosenzweig with Marcus & Millichap - 310-513-3144
Data Source:
California Regional MLS (CRMLS) - 25 - CA
Property Description

We are pleased to present the opportunity to acquire 130 South Soto Street, which is a 5-unit, 23 bedroom multifamily asset built in 2018 operating as a coliving community. The coliving concept allows a new investor to achieve rents higher than market rates by renting out its units per bedroom. This concept attracts tenants because of their short-term or flexible leases, perks like cleaning services, professionally furnished common areas, turn-key amenities, utilities, and sense of community with like-minded individuals who share the same values and lifestyle. The asset is located in Northeast Los Angeles in Boyle Heights, which is a rapidly developing neighborhood. It is strategically located "kitty-corner" to the Gold Line Soto Station. It is a five-minute Uber ride to the Arts District and it has a 94 Walk Score due to its proximity to popular restaurants and cafes like the original Guisados, King Taco, La Monarca Bakery & Cafe, and grocery stores like Food 4 Less. It is also only a five-minute drive to the Los Angeles County + USC Medical Center, which is a strong employment driver for the area. This asset is located in the path of progress. This uniquely positioned, three-story property was built in 2018 and consists of 2 five-bedroom/two-bathroom units, 2 five-bedroom/three-bathroom units, and 1 three-bedroom/one-bathroom unit (previously converted from a one-bedroom/one-bathroom unit). One unit is being rented out by Section 8 while another is master-leased. Each unit has in-unit washer and dryers that produce income, central heat and air-conditioning, and stainless-steel appliances. The building has seven parking spots, which also produce income. The premises is gated and well-secured with a monitoring system. The asset is not subject to AB 1482 or the Rent Stabilization Ordinance since it was built in 2018. This is a remarkable opportunity for a new investor to acquire a rare new construction asset that offers a high cash-on-cash yield in a burgeoning market.

Price History
11/17/2021 Listed $3,200,000

General Features

Listing Agent Sean Rosenzweig - BRE#01406343
Listing Agent State License 01406343
Lot Size Square Feet 7455
MLS Area BOYH - Boyle Heights
Property Type Residential Income
Senior Community Y/N No
Special Listing Conditions Standard
Status Active
Total Units 23
Zoning LARD1.5

Exterior Features

Lot Size Acres 0.17
Lot Size Area 7455
Lot Size Source Assessor
Lot Size Units Square Feet
Number of Buildings 1
Parking Features Covered
Total Parking 7

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 90033

Price
AVG $1.57M
$3.2M
Visits
AVG 15
2
Year Built
AVG 1931
2018

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