959 South Soto Street

Los Angeles, CA 90023

$1,100,000
Price
12
Beds
6
Baths
4,180 Sq. Ft.
$263 / Sq. Ft.
4,180
Sq. Ft.
$263
per Sq. Ft.

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...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.
  1. Listed by Neema Ahadian • DRE #01346750 • Brokerage DRE #01240999 • Marcus & Millichap

Property Details for 959 South Soto Street

Zoning
LAC1
Parcel Number
5189006011
Total Units
6.0
Living Area
4180
Source Living Area
Vendor Enhanced
Area
Boyle Heights (BOYH)
Vacancy Rate
0
Lot Size Area
6486

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute
LISTING UPDATED: 03/05/2024 10:33 AM

Property Details for 959 South Soto Street

StatusActive Under Contract
MLS #24-348655
Days on Market70
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1962
Lot Size0.15 AC / 6,486 SF
CountyLos Angeles County

Location

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750
Add your commute

Building Information for 959 South Soto Street

Stories-Residences-Year Built1962Building Size-Lot Size0.15 AC / 6,486 SF

Payment Calculator

$6,746 per month

30 year fixed, 7.25% Interest

Principal and Interest

$6,003

Property Taxes

$743

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 959 South Soto Street

Community / Development
Community / Development
  • Number Of Units: 6
  • Senior Community: No
Structure Info
Structure Info
  • Year Built Source: Vendor Enhanced
  • Number Of Stories: 0
  • Number Of Buildings: 1
  • Type Of Units: Apartment
Contract Info
Contract Info
  • Disclosures: None
  • Listing Type: Exclusive Right To Sell
  • Service Level: Full Service
Income & Expenses Information
Income & Expenses Information
  • Scheduled Actual: Actual
  • Gross Operating Income: $89,935
  • Net Operating Income: $57,289.00
  • Gross Income: $94,668
  • Cap Rate: 5.21%
  • Gross Rent Multiplier: $11.62
  • Actual Annual Gross Rent: $94,668.00
  • Total Annual Expense: 32646
Land / Lot Info
Land / Lot Info
  • Lot Acreage: 0.1489
  • Lot Size Square Feet: 6486
Parking Details
Parking Details
  • Parking Garage: Carport Detached
  • Total Parking: 6
  • Parking Features: Detached Carport
  • Attached Garage: No
Interior Features
Interior Features
  • Levels: Multi/Split
  • Cooling Type: Wall Unit(s)
  • Heating: Wall Furnace
  • Heating Type: Wall
  • Equipment: None
Exterior Features
Exterior Features
  • New Construction: No
  • Other Structures: None
Lease Terms
Lease Terms
  • Entry Date: 01-17-2024
Unit Details
Unit 1 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,544.00
  • Unit Actual Rent: $1,544.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 1
Unit 2 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,455.00
  • Unit Actual Rent: $1,455.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 2
Unit 3 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,141.00
  • Unit Actual Rent: $1,141.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 3
Unit 4 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,021.00
  • Unit Actual Rent: $1,021.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 4
Unit 5 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,456.00
  • Unit Actual Rent: $1,750.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 5
Unit 6 Information
  • Unit Beds: 2
  • Unit Baths: 1
  • Unit Furnished: No
  • Unit Rent: $1,272.00
  • Unit Actual Rent: $1,272.00
  • Unit Projected Rent: $1,750.00
  • Like Units: 6
Unit Details
  • Unit Type Type: 2106, 2107, 2108, 2109, 2110, 2111
Tax and Assessed Info
Tax and Assessed Info
  • Assessed Improvement Value: $416,506.00
  • Assessed Improvement Percent: 63.3
  • Assessed Land Value: $241,452.00
  • Assessed Land Percent: 36.7
  • Assessed Total Value: $657,958.00

Property History for 959 South Soto Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 959 South Soto Street

Taxable ValueLand$241,452Additions$416,506Total$657,958
Tax Record2023$8,918 ($743 / month)
Home Facts
Total Finished SqFt4,180 SqFtAbove Grade Finished SqFt4,180 SqFtLot Size6,410 SqFtStyleMulti-Family Res (5+ Units)Year Built1962ZoningLAC1CountyLOS ANGELESAPN5189-006-011

Schools near 959 South Soto Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 6
Charter - K to 8
Public - 9 to 12
Public - 9 to 12
Rating
School
Distance
Soto Street Elementary School
PublicK to 6

Theodore Roosevelt Senior High
Public9 to 12

Felicitas And Gonzalo Mendez High
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Marcus & Millichap, Neema Ahadian, DRE #01346750

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.