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138 N Soto St, Los Angeles, CA 90033
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138 N Soto St Los Angeles, CA 90033

$3,495,000
  • 11 Beds
  • 9 Baths
  • 13,924 Sq.Ft.
For Sale
$3,495,000 Get Pre-Qualified
Map preview of 138 N Soto St, Los Angeles, CA 90033

Property Overview: 138 N Soto St Los Angeles, CA has 11 bedrooms, 9 bathrooms, 13,924 living square feet and 8,910 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: We are delighted to introduce a prime investment opportunity: a well-kept 20-unit building in Los Angeles’ Boyle Heights neighborhood. Strategically located between 1st Street and Cesar E Chavez Avenue, this ±13,924 square foot property sits on a ±9,283 square foot lot at 138 N Soto Street. This dynamic location places your investment at the epicenter of Los Angeles’ cultural and commercial scene. Residents will enjoy easy access to Downtown Los Angeles, the L.A. Live entertainment complex, USC Health Sciences Campus, Dodger Stadium, Union Station and more. Major freeways (10, 5, 60, and 101) are just minutes away, along with a diverse array of shopping centers, restaurants, museums, and retailers. The property’s proximity to the bustling retail corridors on Cesar Chavez Boulevard and Soto Street offers unparalleled convenience and opportunity for future appreciation. This investment opportunity is in a highly sought-after rental market within Boyle Heights. Over 75% of Boyle Heights residents occupy investment-owned properties, underscoring the strong demand for rental housing in the area. Positioned amidst a thriving working class with a steady need for well-maintained housing and easy access to major employers, 138 N Soto Street offers the perfect blend of value and income potential. Nearly 50% of the units have been renovated interiors, providing modern amenities, and attracting discerning renters. Individual units boast spacious kitchens with stainless-steel appliances*, horizontal blinds, ample hallway storage, hardwood-like flooring, large closets, built-in drawers, and wall air conditioning. This pet friendly property also features low-maintenance landscaping, secured access, and an on-site laundry facility. 138 N Soto Street is a secure long-term investment ideal for any investor seeking a strong return. This opportunity can be a great investment for a new or seasoned investor. *In Select Units

Listed by ERIC CHEN | BRE #01489184 | CB RICHARD ELLIS
Last checked: 12 seconds ago | Last updated: September 17th, 2024 | Source CRMLS | DOM: 2

Home details

Lot Sq. Ft
8,910
HOA Dues
$0/mo
Year built
1930
Garage
--
Property Type:
Apartment
Status
Active
MLS#
CV24193168
City
Los Angeles
County
Los Angeles
Time on Site
1 day
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 20
  • Total # of Buildings: 1
  • # of Leased Units: 17
  • # of Electric Meters: 20
  • # of Gas Meters: 20
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 11
  • # of Beds: 0
  • # of Baths: 0
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,266
  • Total Rent: $167,155
  • Pro Forma/Market Rent: $1,650
Unit Breakdown 2
  • # of Units: 7
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,349
  • Total Rent: $113,331
  • Pro Forma/Market Rent: $1,900
Unit Breakdown 3
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $2,295
  • Total Rent: $55,080
  • Pro Forma/Market Rent: $2,395
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.7%
  • Gross Rent Multiplier: 10.42
  • Gross Scheduled Income: $340,096
  • Net Operating Income: $199,071
  • Gross Operating Income: $329,893
  • Vacancy Allowance: $10,203
  • Laundry Income: $4,530
Annual Expense Breakdown
  • Total Operating Expense: $130,822
  • Electric: $12,788
  • Gas/Fuel: $5,895
  • New Taxes: $43,739
  • Trash: $6,217
  • Insurance: $7,000
  • Maintenance: $11,546
  • Professional Management: $24,017
  • Water/Sewer: $12,789
  • Other Expenses: $4,000
  • Other Expense Description: Reserves

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Property Details for 138 N Soto St

Interior Features
Cooling Information
  • Has Cooling
  • Wall/Window Unit(s)
Heating Information
  • Has Heating
  • Wall Furnace
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Information
  • No Spa
  • Spa Features: None
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: Street
Lot Information
  • Lot Features: 16-20 Units/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 20
  • Parcel Number: 5180002021
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Merge onto I-10 W, Take exit 19C for Soto St, Use the left 2 lanes to turn left onto N Soto St
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 138 N Soto St

Last sold for $2,900,000 on January 16th, 2018

  • September, 2024

  • Sep 17, 2024

    Date

    Active

    CRMLS: CV24193168

    $3,495,000

    Price

  • February, 2023

  • Feb 3, 2023

    Date

    Expired

    CRMLS: 22201635

    $3,450,000

    Price

  • Sep 1, 2022

    Date

    Active

    CRMLS: 22201635

    $3,595,000

    Price

  • Listing provided courtesy of CRMLS

    ASSUMABLE FINANCING | A 20-unit investment opportunity in Boyle Heights between 1st St and E Cesar Chavez Ave, a rapidly gentrifying submarket with easy access to the Arts District in Downtown Los AngelesThe property features a unit mix of 12 singles, six one-bedrooms, and two two-bedrooms; the building is 100% occupied and seven of the units have been renovated; opportunity to further add value as units turn and achieve over 38% rental upside through interior renovationsGated access from both the front and rear of the property; the building is separately metered for gas and electric and has common area laundry with two washers and two dryersStable cash flow at a 4.26% CAP rate on current income with significant upside; a pro forma CAP rate of 6.89% is projected upon stabilizationHigh Walk Score of 94, a plethora of retail within walking distance on 1st St, E Cesar Chavez Ave, and 4th St; down the street from the Metro L rail line as well as multiple metro local bus line stops on Soto & 1st streetConvenient access to the 1 St Viaduct for a quick commute to the Arts District and Downtown Los Angeles; located just off the 10, 60, and 101 Freeways.

  • January, 2018

  • Jan 18, 2018

    Date

    Sold

    CRMLS: 17250482

    $2,900,000

    Price

  • Oct 11, 2017

    Date

    Pending

    CRMLS: 17250482

    $2,995,000

    Price

  • Oct 5, 2017

    Date

    Price Change

    CRMLS: 17250482

    $2,995,000

    Price

  • Aug 21, 2017

    Date

    Price Change

    CRMLS: 17250482

    $3,295,000

    Price

  • Jul 12, 2017

    Date

    Active

    CRMLS: 17250482

    $3,500,000

    Price

  • Listing provided courtesy of CRMLS

  • January, 2018

  • Jan 9, 2018

    Date

    Sold (Public Records)

    Public Records

    $2,900,000

    Price

  • June, 2016

  • Jun 15, 2016

    Date

    Sold (Public Records)

    Public Records

    $2,200,000

    Price

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Tax History for 138 N Soto St

Assessed Value (2020): $3,023,160
Year Land Value Improved Value Assessed Value
2020 $1,768,680 $1,254,480 $3,023,160

Home Value Compared to the Market

This property vs the competition

138 N Soto St is listed 191.25% higher than the median list price for the city of Los Angeles which has a median list price of $1,200,000. The median price per/sqft for Los Angeles is $768 and this home is listed at $251.01 per/sqft which puts the price per square foot 67.32% lower than the median price per square foot for the city of Los Angeles.

About 138 N Soto St

Detailed summary of property

138 N Soto St is a apartment located in Los Angeles, CA 90033 and is currently for sale. This apartment offers 11 bedrooms, 9 bathrooms, roughly 13,924 living square feet, and sits on an approximately 8,910 square foot lot. 138 N Soto St was first listed on ArdentRealEstateGroup.com on September 17, 2024. The homeowner is currently asking $3,495,000. The median priced home in Los Angeles is $1,200,000 with a median price per square foot of $768. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 191.25% higher than the median priced home. Local competing homes currently for sale include 730 S Westlake Ave, 2505 Berkeley St and 136 N Rampart Blvd. While the average home in Los Angeles, CA is selling in 106 days, 138 N Soto St has a days on market of 2 days. There are currently 4052 homes for sale in the Los Angeles real estate market and 2782 of them are single family homes while 1148 of them are condos and 116 are townhomes. For more information on this home for sale at 138 N Soto St Los Angeles, CA 90033 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 138 N Soto St

Public county record property details
Beds
10
Baths
20
Year built
1930
Sq. Ft.
13,924
Lot Size
8,909
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
1,19
APN
5180-002-021

The source for these homes facts are from public records.

90033 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$749,000
Median List Price/Sq.Ft.
$444
Median Sold Price
$660,000
Median Sold Price/Sq.Ft.
$700
Total Inventory
8
Median Sale to List Price %
96.35%
Avg Days on Market
30
Loan Type
Conventional (40%), FHA (0%), VA (0%), Cash (20%), Other (40%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. 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 usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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