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Multifamily

130 S Soto St

130 S Soto St, Los Angeles, CA 90033

Listing Price: $3,200,000

Cap Rate
5.86%
Number of Units
23
Price/Unit
$139,130
Price/Gross SF
$322.94
Gross SF
9,909

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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 & Café, 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.

Investment Highlights

  • Coliving Concept Offers a New Investor Rental Rates that Exceed Market Rents.
  • "Kitty-Corner" to Gold Line Soto Station, Five Minutes from Arts District and LAC+USC Medical Center, and Walking Distance to the Original Guisados, King Taco, and More
  • Not Subject to Rent Stabilization Ordinance or AB 1482.
  • Majority Large 5bdr Units with Washer and Dryer and Central Air Conditioning and Heat in Each Unit
  • Six of the Seven Parking Spaces Produce Income. The Building also Offers Bike Parking. All Parking is Secured by Gated Entry.
  • 5.5% Cash-On-Cash Return

Exclusively Listed By

Multifamily

130 S Soto St

Listing Price: $3,200,000

Cap Rate
5.86%
Number of Units
23
Price/Unit
$139,130
Price/Gross SF
$322.94
Gross SF
9,909

Investment Highlights

  • Coliving Concept Offers a New Investor Rental Rates that Exceed Market Rents.
  • "Kitty-Corner" to Gold Line Soto Station, Five Minutes from Arts District and LAC+USC Medical Center, and Walking Distance to the Original Guisados, King Taco, and More
  • Not Subject to Rent Stabilization Ordinance or AB 1482.
  • Majority Large 5bdr Units with Washer and Dryer and Central Air Conditioning and Heat in Each Unit
  • Six of the Seven Parking Spaces Produce Income. The Building also Offers Bike Parking. All Parking is Secured by Gated Entry.
  • 5.5% Cash-On-Cash Return

Investment Overview

Marcus & Millichap, as the exclusive listing agent, is 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 & Café, 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.

Exclusively Listed By

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