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    130 S Soto Street

    Los Angeles (City), CA 90033
    • $3,250,000
    • STATUS: Active
    • ON SITE: 25 days
    • ID#: 20639196
    UPDATED: 15 min ago
    $3,250,000
    • 0
      BEDS
    • 0.17
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    Neighborhood:
    Type:
    Multi-Family
    Built:
    2018
    County:

    School Ratings & Info

    Description

    Opportunity to acquire a 2018 built, 9,909 sf (per assessor) asset in Boyle Heights, right across from the Gold Line Metro Train Station for only $328/SF. The entire building was initially leased by a non-profit for $19K a month but due to funding constraints, was not renewed. Current owners see the value in room rentals for students and working professionals commuting to LADT and beyond, (six tenants are paying $1,150/mo, incl. utilities), but do not have the management expertise to operate such a building. Investors experienced with co-living rentals or working with VA's housing program (VASH) or the City of LA housing initiatives, have a unique opportunity to acquire a NEW ASSET AT LESS THAN REPLACEMENT COST! Currently, 3 units are rented but 2 units have been kept vacant to allow for new ownership to determine the future direction. 8 parking spots on grade, no elevator and fully paid solar pays for common area bills. Washer/dryer in each unit on card pay system.

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    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-27T18:32:20.163. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

    www.therealestategirl.com/homes/110608280
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    130 S Soto Street Los Angeles (City), CA 90033

    • Price: $3,250,000
    • Status: Active
    • Updated: 15 min ago
    • ID#: 20639196
    0
    Beds
    0
    Baths
    0
    ½ Baths
    0.17
    Acres
    2018
    Built
    Neighborhood:
    BOYH - Boyle Heights
    County:
    Los Angeles
    Area:
    BOYH - Boyle Heights
    Property Description
    Opportunity to acquire a 2018 built, 9,909 sf (per assessor) asset in Boyle Heights, right across from the Gold Line Metro Train Station for only $328/SF. The entire building was initially leased by a non-profit for $19K a month but due to funding constraints, was not renewed. Current owners see the value in room rentals for students and working professionals commuting to LADT and beyond, (six tenants are paying $1,150/mo, incl. utilities), but do not have the management expertise to operate such a building. Investors experienced with co-living rentals or working with VA's housing program (VASH) or the City of LA housing initiatives, have a unique opportunity to acquire a NEW ASSET AT LESS THAN REPLACEMENT COST! Currently, 3 units are rented but 2 units have been kept vacant to allow for new ownership to determine the future direction. 8 parking spots on grade, no elevator and fully paid solar pays for common area bills. Washer/dryer in each unit on card pay system.
    Exterior Features

    Architectural Style Contemporary Lot Size Units Square Feet Parking Features AssignedCoveredGated Parking YN Yes Pool Features None Pool Private YN No Spa Features None Spa YN No

    Interior Features

    Appliances Refrigerator Appliances YN Yes Cooling Central Air Cooling YN Yes Heating Central Heating YN Yes

    Property Features

    Country Us Gross Income 244000.00 Gross Multiplier 13.30 Gross Operating Income 237000.00 Land Lease YN No Net Operating Income 183000.00 Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Total Expenses 54000.00 Zoning Lard1.5

    Listing provided courtesy of Sam Sant of Sanjiv Sant


    Based on information from California Regional Multiple Listing Service, Inc. as of 2020-10-27T18:32:20.163. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Keller Williams Realty. Licensed in the State of California, USA.

     
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