138 North Soto Street

Los Angeles, CA 90033

$3,495,000
Price
3
Beds
9
Baths
13,924 Sq. Ft.
$251 / Sq. Ft.
13,924
Sq. Ft.
$251
per Sq. Ft.

Description

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...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
  1. Listed by ERIC CHEN • DRE #01489184 • Brokerage DRE #00409987 • CB RICHARD ELLIS • 626-757-5717

Property Details for 138 North Soto Street

Parking Spaces Total
0
Private Pool
No
Cooling Type
Wall/Window
Total Units
20.0
Building Type
Attached
Lot Size Source
Assessor
Living Area
13924
Assessor Parcel Number
5180-002-021
LISTING UPDATED: 09/17/2024 04:55 AM

Property Details for 138 North Soto Street

StatusActive
MLS #CV24193168
Days on Market3
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1930
CountyLos Angeles County

Building Information for 138 North Soto Street

Building/Complex138 N Soto StFloor-Stories2Residences-Pet Policy-Year Built1930Building Size-

Property Information for 138 North Soto Street

Income / Expense / Tax Details
Income Details
  • Gross Income: $340,096
  • Gross Scheduled Income: $340,096
  • Vacancy Allowance: 10203
  • Gross Operating Income: $329,893
  • Net Operating Income: $199,071
  • Laundry Income: $4,530
  • Gross Multiplier: 10.42
  • Cap Rate: 5.7
Expense Details
  • Operating Expense: $130,822
  • New Taxes Expense: $43,739
  • Fuel Expense: $5,895
  • Pest Control Expense: $445
  • Electric Expense: $12,788
  • Insurance Expense: $7,000
  • Maintenance Expense: $11,546
  • Professional Management Expense: $24,017
  • Other Expense: $4,000
  • Other Expense Description: Reserves
  • Trash Expense: $6,217
  • Water Sewer Expense: $12,789
  • Supplies Expense: $2,386
  • Total Expenses: $130,822
Tax / Assessment Info
  • Tax Tract Number: 204200
  • Tax Census Tract: 2042.00
  • CFD/Mello-Roos Fee: $2,009
  • Tax Lot: 19
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
  • Cooling: Wall/Window Unit(s)
  • Heating Type: Wall
  • Heating: Wall Furnace
Exterior Features
  • Entry Location: 1
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
  • Spa Features: None
Land/Lot Info
  • Lot Features: 16-20 Units/Acre
  • Number Of Units: 20
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: On street
  • Uncovered Spaces: 0
  • Open Other Spaces Total: 0
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: Street
Unit Information
Unit 1
  • Unit Type Units Total: 11
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 0
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,266
  • Unit Type Total Rent: $167,155
  • Unit Type Pro Forma: 1650
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 7
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $1,349
  • Unit Type Total Rent: $113,331
  • Unit Type Pro Forma: 1900
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Garage Attached: No
  • Unit Type Actual Rent: $2,295
  • Unit Type Total Rent: $55,080
  • Unit Type Pro Forma: 2395
  • Unit Type Type: 3
Unit Information
  • Number Of Units Leased: 17
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 20
  • Number Of Separate Gas Meters: 20
  • Number Of Separate Water Meters: 1

Property History for 138 North Soto Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 138 North Soto Street

Taxable ValueLand$1,896,380Additions$1,344,621Total$3,241,001
Tax Record2023$40,121 ($3,343 / month)
Home Facts
Total Finished SqFt13,924 SqFtAbove Grade Finished SqFt13,924 SqFtLot Size8,910 SqFtStyleMulti-Family Res (5+ Units)Year Built1930ZoningLAR4CountyLOS ANGELESAPN5180-002-021

Schools near 138 North Soto Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Breed Street Elementary School
PublicK to 6

Extera Public Schools
CharterK to 8

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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138 North Soto Street is a multi-family home for sale in Los Angeles, CA 90033. This property was listed for sale on September 17, 2024 by CB RICHARD ELLIS, it's currently listed at $3,495,000. It has been on the market for a total of 3 days and was last sold on January 16, 2018. This listing's school district is Los Angeles Unified School District. Nearby schools include Breed Street Elementary School, Extera Public Schools and Theodore Roosevelt Senior High. 138 North Soto Street is a 3-bed, 9-bath, 13,924 sqft multi-family home built in 1930.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of CB RICHARD ELLIS, ERIC CHEN, DRE #01489184

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.