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The Warburton Team Brokered By EXp

andreww@gowpnow.com +1(626) 630-2141

$4,000,000

Est. payment - /mo

6,991 Sqft Lot

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Key Details

Property Type Apartment

Sub Type Apartment

Listing Status Active

Purchase Type For Sale

MLS Listing ID SR26043369

Construction Status Turnkey

HOA Y/N No

Year Built 1929

Lot Size 6,991 Sqft

Property Sub-Type Apartment

Property Description

Introducing The Silver on Soto Apartments - an exceptional investment opportunity in the thriving Boyle Heights neighborhood! This renovated 40-unit property at 323 N Soto Street, Los Angeles CA 90033 presents a turn-key asset with recent upgrades totaling over $300,000, including modern amenities and revitalized interiors. Strategically designed with a "Micro Unit" model, catering to the market demand for efficient living spaces, this property boasts a mix of bachelor units, maximizing revenue potential. With a current occupancy rate of 95% and a strong financial performance, this investment offers a solid NOI, presenting a current cap rate of 7.29% and a promising pro forma cap rate of 9.61%. Discover the potential for excellent returns and minimal capital expenditure requirements at The Silver on Soto Apartments!

Turn-Key Renovated Asset in High-Growth Boyle Heights: This 40-unit apartment building underwent a comprehensive renovation in 2025. With over $300,000 in recently completed upgrades—including new plumbing, electrical systems, paint, flooring, and cabinetry—the property offers a modernized, turn-key investment with minimal immediate capital expenditure requirements.

Strategic "Micro Unit" Model Maximizing Market Efficiency: Composed primarily of bachelor units (95% of the unit mix), the property utilizes a high-efficiency micro-unit model that serves a critical budget-oriented demographic in Los Angeles. This design allows for a competitive entry-level price point while still yielding an impressive actual rent of $4.38 per square foot, significantly outperforming traditionally sized apartments in the area.

Substantial Revenue Upside through "Mark-to-Market" Strategy: The property features a significant valuation gap to be captured, with a projected pro forma CAP rate of 9.61% and a Cash-on-Cash return of 15.24%. Aligning current leases with market rates provides a clear pathway to increase monthly income from $42,241 to an estimated $52,990, representing a nearly 25% revenue growth opportunity.

Exceptional Scalability and Portfolio Opportunity: For investors seeking immediate scale, this asset can be coupled with the nearby 150 N Soto Street property to instantly add 101 units to a growing portfolio in a prime rental market. Located within just two blocks of each other, managing these properties together offers a unique opportunity to scale operational efficiency and maximize overall profits.

Location

State CA

County Los Angeles

Area Boyh - Boyle Heights

Zoning C1-1-CUGU

Interior

Interior Features Ceiling Fan(s), Multiple Staircases, Quartz Counters, Wired for Data

Heating Natural Gas, Wall Furnace

Cooling None

Flooring Laminate

Fireplaces Type None

Fireplace No

Appliance Electric Cooktop, Microwave, Refrigerator, Water Heater

Laundry Common Area

Exterior

Parking Features None

Fence Wrought Iron

Pool None

Community Features Sidewalks, Urban

Utilities Available Cable Available, Cable Connected

View Y/N Yes

View City Lights, Neighborhood

Private Pool No

Building

Lot Description Over 40 Units/Acre, Near Public Transit, Rectangular Lot

Story 2

Entry Level Two

Sewer Public Sewer

Water Public

Level or Stories Two

New Construction No

Construction Status Turnkey

Others

Senior Community No

Tax ID 5175010020

Security Features Resident Manager,Smoke Detector(s)

Energy Description 5633.0

Acceptable Financing Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Listing Terms Cash, Cash to New Loan, Conventional, 1031 Exchange, Submit

Special Listing Condition Standard

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Listed by Logan Altman Altman Apartments LLC 310-903-0222, DRE #01965826

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323 N Soto ST Los Angeles, CA 90033