706 North Soto Street

Marcus and Millichap is pleased to present a twelve (12) unit apartment building located at 706 North Soto Street in Los Angeles, California. The subject property is situated in a prime Boyle Heights location on Soto Street, between Wabash Avenue and Cesar E Chavez Boulevard.

Boyle Heights is a neighborhood located in the region east of the Los Angeles River. Living in Boyle Heights offers residents an urban suburban mix feel and most residents rent their homes. Located east of Downtown Los Angeles, Boyle Heights is one of Los Angeles’ most historic and vibrant neighborhoods. From Mariscos Jalisco to MorrisseyOKE, residents can discover the best shopping, dining and hidden gems in Boyle Heights. The area contains many bars, restaurants, coffee shops, and parks. East Cesar E Chavez Avenue is the main commercial corridor running through Boyle Heights. This avenue is home to the majority of the food and entertainment venues in the area, such as Celestes & Lillies Embroidery Shop, Eastside Rehearsal Studios, Los Angeles Wedding Chapel, and much more. The many parks in the area include Boyle Heights Sports Center & Park, Hollenbeck Park, Prospect Park, State Street Recreation Center, and Evergreen Recreation Center. The area is also home to many schools, such as Breed Street Elementary School, Hollenbeck Middle School, Theodore Roosevelt High School, Salesian High School, and Sheridan Street Elementary School. This area offers easy access to the 101, 10, and 5 freeways and is in close proximity to the Metro Gold Line.

Built in 1928, this property contains a great unit mix of two (2) studio / one-bathroom units, six (6) one-bedroom / one-bathroom units, and four (4) two-bedroom / one-bathroom units. The property features charming character, Spanish style architecture with lovely arched ‘picture’ windows in the front of the building. The building is flooded with plenty of natural light coming from all angles, including skylights on the roof, large front-facing windows, and numerous windows lining the sides. The stairway allows easy access to the roof. Three (3) tenants are under Section 8, demonstrating proven rental upside. The entirety of Soto Street has recently been upzoned in 2021, slowly increasing the demand for properties along this corridor. Tenants will love the convenience of being within walking distance to Soto Station, as well as a plethora of other rapidly developing amenities in the area that are driving ongoing growth and increased demand.

Situated in a prime Boyle Heights location, this offering presents an excellent opportunity for any investor to capitalize on positive initial cash flow while having the ability to add value for strong rental upside potential in a gentrifying market of Los Angeles.