$ 4,000,000
-
$4,000,000
Price -
1
Bed -
2
Bath -
10,364
SqFt
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About the Listing SR0114700 - SR207061458
Introducing The Silver on Soto Apartments - an exceptional investment opportunity in the thriving Boyle Heights neighborhood! This renovated 40-unit property at 323 N Soto Street, Los Angeles CA 90033 presents a turn-key asset with recent upgrades totaling over $300,000, including modern amenities and revitalized interiors. Strategically designed with a "Micro Unit" model, catering to the market demand for efficient living spaces, this property boasts a mix of bachelor units, maximizing revenue potential. With a current occupancy rate of 95% and a strong financial performance, this investment offers a solid NOI, presenting a current cap rate of 7.29% and a promising pro forma cap rate of 9.61%. Discover the potential for excellent returns and minimal capital expenditure requirements at The Silver on Soto Apartments! Turn-Key Renovated Asset in High-Growth Boyle Heights: This 40-unit apartment building underwent a comprehensive renovation in 2025. With over $300,000 in recently completed upgrades—including new plumbing, electrical systems, paint, flooring, and cabinetry—the property offers a modernized, turn-key investment with minimal immediate capital expenditure requirements. Strategic "Micro Unit" Model Maximizing Market Efficiency: Composed primarily of bachelor units (95% of the unit mix), the property utilizes a high-efficiency micro-unit model that serves a critical budget-oriented demographic in Los Angeles. This design allows for a competitive entry-level price point while still yielding an impressive actual rent of $4.38 per square foot, significantly outperforming traditionally sized apartments in the area. Substantial Revenue Upside through "Mark-to-Market" Strategy: The property features a significant valuation gap to be captured, with a projected pro forma CAP rate of 9.61% and a Cash-on-Cash return of 15.24%. Aligning current leases with market rates provides a clear pathway to increase monthly income from $42,241 to an estimated $52,990, representing a nearly 25% revenue growth opportunity. Exceptional Scalability and Portfolio Opportunity: For investors seeking immediate scale, this asset can be coupled with the nearby 150 N Soto Street property to instantly add 101 units to a growing portfolio in a prime rental market. Located within just two blocks of each other, managing these properties together offers a unique opportunity to scale operational efficiency and maximize overall profits.
Listing Highlights
Status
Active
Days on Site
35
Property Type
Multi-Family
MLS ®
SR26043369
Year Built
1929
Total Square Footage
10,364
Lot/Acreage
0.16
County
Los Angeles
Area
BOYH - Boyle Heights
Interior Details
- Bedrooms: 1
- Bathrooms: 2 Full
- Appliances: Electric Cooktop, Microwave, Refrigerator, Water Heater
- Air Cond:
- Heating: Natural Gas,Wall Furnace
- Fireplaces:
- Floor: Laminate
- Above Ground Sq Ft:
- Below Ground Sq Ft: n/a
- Basement:
- Other: Ceiling Fan(s),Multiple Staircases,Quartz Counters,Wired for Data
- Water: Public
Exterior Details
- Lot Description: Over 40 Units/Acre,Near Public Transit,Rectangular Lot,No Land Lease
- Garage Capacity: N/A
- Parking Spaces: 0
- Zoning: C1-1-CUGU
- Roof:
- Others: Turnkey,Drywall,Frame,Stucco,2+ Total Units
- Sewer: Public Sewer
Financial Details
- Tax Amount: N/A
- Taxes w/Assessments: N/A
- Tax/Property ID: 5175010020
- Tax Year: N/A
Payment Calculator
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Questions About..
323 N Soto St Los Angeles, CA 90033
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