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130 S Soto Street

Los Angeles (City), CA 90033
  • $3,200,000
  • STATUS: Active
  • ON SITE: 20 Days
  • ID#: 21106101
$3,200,000
  • 0
    BEDS
  • 0.17
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Neighborhood:
Type:
Multi-Family
Built:
2018
County:

School Ratings & Info

Listing Agent: Sean Rosenzweig of Marcus & Millichap


Description

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.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
www.themarellygroup.com/homes/123361376
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130 S Soto Street Los Angeles (City), CA 90033

  • Price: $3,200,000
  • Status: Active
  • On Site: 20 Days
  • ID#: 21106101
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
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.
Exterior Features

Parking Features Covered Parking Total 7

Property Features

Association Fee 0 Gross Income 266328 Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 187525 New Construction YN No Senior Community YN No Special Listing Conditions Standard Zoning Lard1.5



Based on information from California Regional Multiple Listing Service, Inc. as of 2021-12-08T00:26:55.663. 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 The Marelly Group | Sentry Residential. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367580342-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367580342-1.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_367580342-1.jpg
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The Marelly Group | Sentry Residential
5256 South Mission Rd, Suite 1006
Bonsall CA, 92003
Listing Agent: Sean Rosenzweig of Marcus & Millichap