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142 N Soto Street

Los Angeles (City), CA 90033
  • $1,100,000
  • STATUS: Active
  • ON SITE: 21 Days
  • ID#: 24399671
UPDATED: 88 min ago
$1,100,000
  • 6
    BEDS
  • 0.2
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
  • 2,520
    SQFT
  • $437
    $/SQFT
Neighborhood:
Type:
Multi-Family
Built:
1923
County:

School Ratings & Info

Listing Agent(s): Michael R. Fukushima of Keller Williams Downtown LA (213-797-7000) and Stephen F. Watson of Keller Williams Downtown LA(213-797-7000)


Description

Located in the heart of Boyle Heights, 142 N Soto St is a developers dream! Situated on an expansive 8,911 square foot lot, this property boasts ample space for potential expansion or redevelopment. Zoned LAR4 with TOC4 designation, it presents an exciting prospect for investors seeking to maximize its development potential. With 22 units permitted by right, the property unlocks further possibilities with a TOC4 bonus, allowing for up to 40 units. Furthermore, a notable aspect of this property is its commitment to affordability, with the potential to develop up to 55 units dedicated to meeting the community's affordable housing needs. Whether you're looking to capitalize on the existing rental income, explore redevelopment opportunities, or contribute to the community's affordable housing initiatives, 142 N Soto St presents a versatile and promising investment. The rear 2 Bedroom + 1 Bathroom will be delivered vacant at Close of Escrow! DO DISTURB TENANTS! DRIVE BY ONLY!

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Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-24T23:28:02.823. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
www.mainstreetgroup.com/homes/151286836
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142 N Soto Street Los Angeles (City), CA 90033

  • Price: $1,100,000
  • Status: Active
  • On Site: 21 Days
  • Updated: 88 min ago
  • ID#: 24399671
6
Beds
0
Baths
0
½ Baths
0.2
Acres
2,520
SQFT
$437
$/SQFT
1923
Built
Neighborhood:
BOYH - Boyle Heights
County:
Los Angeles
Area:
BOYH - Boyle Heights
Property Description
Located in the heart of Boyle Heights, 142 N Soto St is a developers dream! Situated on an expansive 8,911 square foot lot, this property boasts ample space for potential expansion or redevelopment. Zoned LAR4 with TOC4 designation, it presents an exciting prospect for investors seeking to maximize its development potential. With 22 units permitted by right, the property unlocks further possibilities with a TOC4 bonus, allowing for up to 40 units. Furthermore, a notable aspect of this property is its commitment to affordability, with the potential to develop up to 55 units dedicated to meeting the community's affordable housing needs. Whether you're looking to capitalize on the existing rental income, explore redevelopment opportunities, or contribute to the community's affordable housing initiatives, 142 N Soto St presents a versatile and promising investment. The rear 2 Bedroom + 1 Bathroom will be delivered vacant at Close of Escrow! DO DISTURB TENANTS! DRIVE BY ONLY!
Exterior Features

Parking Features Uncovered Parking Total 4

Interior Features

Appliances Refrigerator Cooling Wall/Window Unit(s) Cooling YN Yes Heating Wall Furnace Heating YN Yes

Property Features

Association YN No Cap Rate 3 Community Features Gated Gross Income 56244 Levels One Listing Agreement Seller Reserved Listing Service Full Service Net Operating Income 32709 New Construction YN No Rent Control YN Yes Security Features Gated Community Senior Community YN No Special Listing Conditions Standard Tenant Pays ElectricityGas Vacancy Allowance Rate 0 Zoning LAR4



Based on information from California Regional Multiple Listing Service, Inc. as of 2024-06-24T23:28:02.823. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is deemed reliable but is not guaranteed accurate by the MLS or Mainstreet Realtors®. Licensed in the State of California, USA.
 
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Mainstreet Realtors®
10300 Fourth St. Ste 100
Rancho Cucamonga CA, 91730
Listing Agent(s): Michael R. Fukushima of Keller Williams Downtown LA (213-797-7000) and Stephen F. Watson of Keller Williams Downtown LA(213-797-7000)