138 N Soto St
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138 N Soto St
20 Unit Apartment Building $4,803,052 CAD ($240,153 CAD/Unit) 6.07% Cap Rate Los Angeles, CA 90033
INVESTMENT HIGHLIGHTS
- Well-Located Just Minutes Outside of DTLA and a Short Distance to Several Local Amenities including Restaurants, Convenience Stores, Schools, Parks
- Extremely Dense Rental Pocket of Boyle Heights | Over 75% of Boyle Heights Residents occupy Investment Owned Properties (Source: Census.Gov)
- Only $167,250 Per Unit & $240 Per Square Foot
- Over $300,000 in Capital Improvements to Building Interior
- Strong In-Place Income Boasting a 6.07% CAP Rate & a Low 9.93 GRM on Current Rents | Market CAP Rate of 8.80% & 7.69 GRM
- Well-Maintained Property w/ Almost 50% of Unit Interiors Renovated
EXECUTIVE SUMMARY
CBRE, Inc., as exclusive advisor, is 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 unit interiors have been renovated, 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.
With historically low vacancy and consistent rental income, 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
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 unit interiors have been renovated, 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.
With historically low vacancy and consistent rental income, 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
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL (CAD) | ANNUAL PER SF (CAD) |
|---|---|---|
| Gross Rental Income |
$486,078
|
$34.91
|
| Other Income |
$5,956
|
$0.43
|
| Vacancy Loss |
$14,761
|
$1.06
|
| Effective Gross Income |
$477,273
|
$34.28
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$184,476
|
$13.25
|
| Net Operating Income |
$292,798
|
$21.03
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $486,078 |
| Annual Per SF | $34.91 |
| Other Income (CAD) | |
|---|---|
| Annual | $5,956 |
| Annual Per SF | $0.43 |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | $14,761 |
| Annual Per SF | $1.06 |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $477,273 |
| Annual Per SF | $34.28 |
| Taxes (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses (CAD) | |
|---|---|
| Annual | $184,476 |
| Annual Per SF | $13.25 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $292,798 |
| Annual Per SF | $21.03 |
PROPERTY FACTS
| Price | $4,803,052 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $240,153 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.20 AC |
| Cap Rate | 6.07% | Building Size | 13,924 SF |
| Gross Rent Multiplier | 9.93 | Average Occupancy | 85% |
| No. Units | 20 | No. Stories | 2 |
| Property Type | Multifamily | Year Built | 1930 |
| Property Subtype | Apartment |
| Price | $4,803,052 CAD |
| Price Per Unit | $240,153 CAD |
| Sale Type | Investment |
| Cap Rate | 6.07% |
| Gross Rent Multiplier | 9.93 |
| No. Units | 20 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.20 AC |
| Building Size | 13,924 SF |
| Average Occupancy | 85% |
| No. Stories | 2 |
| Year Built | 1930 |
UNIT AMENITIES
- Air Conditioning
- Heating
- Kitchen
- Oven
- Range
SITE AMENITIES
- Laundry Facilities
- Public Transportation
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 7 | $2,096 CAD | 800 |
| 2+1 | 2 | $3,359 CAD | 950 |
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Walk Score®
Walker's Paradise (92)
Transit Score®
Excellent Transit (72)
PROPERTY TAXES
| Parcel Number | 5180-002-021 | Improvements Assessment | $1,936,315 CAD |
| Land Assessment | $2,743,114 CAD | Total Assessment | $4,679,429 CAD |
PROPERTY TAXES
Parcel Number
5180-002-021
Land Assessment
$2,743,114 CAD
Improvements Assessment
$1,936,315 CAD
Total Assessment
$4,679,429 CAD
ZONING
| Zoning Code | R4-2, Los Angeles |
| R4-2, Los Angeles |
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138 N Soto St
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