323 N Soto Street, Los Angeles, CA 90033

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Glen Henderson

Premier Homes Team, a division of Big Block Realty

[email protected] +1(619) 889-7646

$4,450,000

Est. payment - /mo

1 Bed

2 Baths

6,993 Sqft Lot

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UPDATED:

Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR25091164

Bedrooms 1

HOA Y/N No

Lot Size 6,993 Sqft

Property Sub-Type Res Income 2-4 Units

Type of Financing Cash,Conventional

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 LAs 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 stabilization.
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 LAs 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 stabilization.

Location

State CA

County Los Angeles

Area Los Angeles (90033)

Zoning Appraiser

Building

Story 2

Lot Size Range 4000-7499 SF

Level or Stories 2 Story

Others

Monthly Total Fees $101

Acceptable Financing Cash, Conventional

Space Rent $479,679

Listing Terms Cash, Conventional

CFD/Mello-Roos Fee $1, 213

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Listed by Logan Altman • Altman Apartments LLC

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Glen Henderson

+1(619) 889-7646

Broker Associate | CA BRE #01384181

Broker Associate CA BRE #01384181

San Diego Communities

323 N Soto Street Los Angeles, CA 90033

Glen Henderson

Key Details

Location

Building

Others

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