130 South Soto Street
130 South Soto Street Los Angeles, California 90033 United States

$3,200,000
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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...

Marcus & Millichap

Listing Courtesy of Marcus & Millichap
$3,200,000
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.17 Acres
Exterior
Residential Income
Property type
2018
Year Built
21106101
Web Id
21106101
MLS ID
Los Angeles Unified
School District
15
days ago

About 130 South Soto Street

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.

Listing Courtesy of Sean Rosenzweig, Marcus & Millichap, 01406343, Active

PROPERTY INFORMATION

Parking Description
Covered

ADDITIONAL INFORMATION

Number of Units
23

130 South Soto Street, Los Angeles, California 90033 United States is a Residential Income for Sale for $3,200,000. Was built in 2018,  on a lot of .17 Acres ( m2) and it's composed from .


Listing Courtesy of Marcus & Millichap

Marcus & Millichap

Listing Courtesy of Marcus & Millichap
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Based on information from CRISNet MLS as of at the data was obtained. All data, including all measurements and calculations of area, is obtained from various sources and has not been, and will not be, verified by broker or MLS. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.