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959 S Soto Street

Los Angeles (City), CA 90023
  • $1,100,000
  • STATUS: Active Under Contract
  • ON SITE: 95 Days
  • ID#: 24348655
Under Contract
$1,100,000
  • 12
    BEDS
  • 0.15
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 4,180
    SQFT
  • $263
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1962
County:

School Ratings & Info

Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)


Description

This is an attractive investment opportunity at 959 South Soto St, a 6-unit apartment building in Boyle Heights. Located close to the East Los Angeles Interchange, between 7th Street and Whittier Boulevard, the property has a greatmix of two-bedroom units and provides six parking spaces at the rare. Fully occupied upon delivery, investors can take advantage of a strong existing cash flow and a remarkable 33% rental upside during unit turnovers. Directly across from Salesian High School and close to various retail amenities along South Soto St, the property achieves a high Walk Score of 85. Easy access to major freeways like the 60, 5, 10, and 710 ensures a seamless commute to Downtown Los Angeles and the San Gabriel Valley. Positioned on the bustling main thoroughfare of Whittier Blvd, this Boyle Heights neighborhood is undergoing rapid gentrification, presenting a prime investment opportunity in a thriving and well-connected community.

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. 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 RE/MAX Freedom. Licensed in the State of California, USA.
www.homesinthehighdesert.com/homes/146715737
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959 S Soto Street Los Angeles (City), CA 90023

  • Price: $1,100,000
  • Status: Active Under Contract
  • On Site: 95 Days
  • ID#: 24348655
12
Beds
0
Baths
0
½ Baths
0.15
Acres
4,180
SQFT
$263
$/SQFT
1962
Built
Neighborhood:
BOYH - Boyle Heights
County:
Los Angeles
Area:
BOYH - Boyle Heights
Property Description
This is an attractive investment opportunity at 959 South Soto St, a 6-unit apartment building in Boyle Heights. Located close to the East Los Angeles Interchange, between 7th Street and Whittier Boulevard, the property has a greatmix of two-bedroom units and provides six parking spaces at the rare. Fully occupied upon delivery, investors can take advantage of a strong existing cash flow and a remarkable 33% rental upside during unit turnovers. Directly across from Salesian High School and close to various retail amenities along South Soto St, the property achieves a high Walk Score of 85. Easy access to major freeways like the 60, 5, 10, and 710 ensures a seamless commute to Downtown Los Angeles and the San Gabriel Valley. Positioned on the bustling main thoroughfare of Whittier Blvd, this Boyle Heights neighborhood is undergoing rapid gentrification, presenting a prime investment opportunity in a thriving and well-connected community.
Exterior Features

Attached Garage YN No Carport YN Yes Parking Features Detached Carport Parking Total 6

Interior Features

Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 5.21 Gross Income 94668 Levels Multi/Split Listing Agreement Exclusive Right To Sell Listing Service Full Service Net Operating Income 57289 New Construction YN No Senior Community YN No Special Listing Conditions Standard Vacancy Allowance Rate 0 Zoning LAC1



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-04-21T12:21:09.123. 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 RE/MAX Freedom. Licensed in the State of California, USA.
 
https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372309224-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372309224-2.jpg https://bt-photos.global.ssl.fastly.net/socal/orig_boomver_1_372309224-2.jpg
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RE/MAX Freedom
12180 Ridgecrest Rd. Building E Ste. 522
Victorville CA, 92395
Listing Agent(s): Neema Ahadian of Marcus & Millichap (310-909-5500)