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    405 N Soto St

    Los Angeles, CA 90033
    • $1,925,000
    • STATUS: Active
    • ON SITE: 73 days
    • ID#: 20-601178
    UPDATED: 134 min ago
    $1,925,000
    • 7
      BEDS
    • 0.16
      ACRES
    • 0
      BATHS
    • 0
      1/2 BATHS
    • 7,640
      SQFT
    • $252
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1924
    County:

    School Ratings & Info

    Description

    The property is steps away from E. Cesar Chavez Avenue, where tenants enjoy proximity to multiple retail and restaurant centers, including Walgreens, McDonalds, Guisados, La Monarca Bakery, Bank of America, and local coffeeshops.As the area has been redeveloped and improved over recent years, both rental rates and housing demand have steadily risen. As a result, the subject property currently holds substantial rent upside potential, with current rents approximately 60% below those of similar apartments in the neighborhood. An experienced investor may capitalize on this opportunity to create significant returns and add value through interior and exterior renovations. The property has benefited from numerous improvements over the last seven years including, but not limited to, a new roof, new electrical panels, new copper plumbing, and new windows.

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    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T23:42:24.38. 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.
    www.lydiagable.com/homes/107596411
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    405 N Soto St Los Angeles, CA 90033

    • Price: $1,925,000
    • Status: Active
    • Updated: 134 min ago
    • ID#: 20-601178
    7
    Beds
    0
    Baths
    0
    ½ Baths
    0.16
    Acres
    7,640
    SQFT
    $252
    $/SQFT
    1924
    Built
    Neighborhood:
    Boyle Heights
    County:
    Los Angeles
    Area:
    Boyle Heights
    Property Description
    The property is steps away from E. Cesar Chavez Avenue, where tenants enjoy proximity to multiple retail and restaurant centers, including Walgreens, McDonalds, Guisados, La Monarca Bakery, Bank of America, and local coffeeshops.As the area has been redeveloped and improved over recent years, both rental rates and housing demand have steadily risen. As a result, the subject property currently holds substantial rent upside potential, with current rents approximately 60% below those of similar apartments in the neighborhood. An experienced investor may capitalize on this opportunity to create significant returns and add value through interior and exterior renovations. The property has benefited from numerous improvements over the last seven years including, but not limited to, a new roof, new electrical panels, new copper plumbing, and new windows.
    Exterior Features

    Lot Size Area 6995 Other Structures None Parking Garage Other Total Parking 0

    Interior Features

    Baths Total 11.00 Cooling Other Equipment Other Heating Other

    Property Features

    Assessed Total Value 837762 Gross Income 132672 Gross Operating Income 128818 Like Units1 5 Like Units2 5 Like Units3 1 Net Operating Income 79033.00 Number Of Buildings 1 Number Of Units 11 Sale Type Standard Source Living Area Vendor Enhanced Source Lot Size Area Vendor Enhanced Source Lot Size Dimensions Vendor Enhanced Total Annual Expense 49784 Type Of Units Residential Year Built Source Vendor Enhanced Zoning Lac1

    Listing provided courtesy of Roderick 'Rick' Raymundo DRE#01357019 of Marcus & Millichap.


    Based on information from the Combined LA/Westside Multiple Listing Service as of 2020-09-18T23:42:24.38. 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.
     
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    Lydia Gable Realty Group | Compass
    2945 Townsgate Road Suite 300
    Westlake Villiage CA, 91377