323 N Soto St · Los Angeles, CA 90033

$4,000,000

80 bd · 1600.0 ba · 10,364 sqft · MultiFamily public records · 114 Days on market

Built 1929 6,993 sqft lot $386/sqft · 52% above area ↓ 16% since listing

---

Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Condition / age +2.5/5.0
• Rent growth +1.9/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 40 units. confirmed

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks MLS

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.

Key facts

• New plumbing
• Modern amenities
• Paint

Tags

• RENOVATED 40-UNIT PROPERTY
• MODERN AMENITIES
• REVITALIZED INTERIORS
• NEW PLUMBING
• ELECTRICAL SYSTEMS
• PAINT

What this means for you Summary

Snapshot

• This is a 40 × 2-bed/1-bath units multifamily listed at $4.00M.

Deal economics

• At list price, monthly cash flow is $40k ($481k/yr) — positive. Per door: $1k/mo.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($83k rent vs $4.00M).
• Recommended offer: $3.64M (9.0% below list) — sets the bar for market timing.
• Cap rate 18.3% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents soft (-2.3%/yr); 108 active listings in the ZIP; 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $82,708/mo this rent would consume 1664% of the median local household income ($60k/yr) (locally 3159% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $28k of loan paydown is wiped out by about $120k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.0% rent growth), your $1.12M cash investment doubles in ~3 years — after that, you're playing with house money.

Negotiation context

• It's been on market 114 days — a 9% lower offer ($3.64M) is reasonable based on typical stale-listing flexibility.
• 8 sale attempts since 22y ago with the ask held roughly flat each time — persistent listings suggest the price (not the market) is what's stuck; bring a comps-based counter.
• Current owner paid $2.50M; list at $4.00M implies a 60% gain — meaningful room to come down on a strong offer.

Risks & watch-outs

• Watch-outs: built in 1929 — expect roof / HVAC / electrical / plumbing capex.

Recommended offer $3,640,000 (9.0% below list)

Questions for the listing agent

1. It's been on market 114 days. Have you received any prior offers? Is the seller open to a 9% concession, seller financing, or rate buy-down credit?
2. Can we see the unit-by-unit rent roll, current vacancy, and any below-market leases? What's the average tenancy length?
3. What capital expenditures (roof, boiler, parking lot, exteriors) have been made in the last 5 years, and what's planned in the next 2?
4. Built in 1929 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
5. Why hasn't it sold? Are there any deal-killer items the seller is aware of (foundation, flood, title, zoning, code violations)?
6. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
7. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
8. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
9. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
10. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
11. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 2.07% ✓
• Cap rate: 18.32%
• Cash-on-cash: 42.95%
• DSCR: 2.91
• GRM: 4.0

CMA / ARV

• ARV (median comp): $2,627,526
• List price: $4,000,000
• Delta: 52.23%
• Verdict: OVERPRICED
• Comps: 9 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.0% rent growth · sell at horizon

5-year hold

• IRR: 36.4%
• Equity multiple: 2.48×
• Total profit: $1,662,187
• Equity at exit: $596,413

10-year hold

• IRR: 41.6%
• Equity multiple: 4.39×
• Total profit: $3,797,139
• Equity at exit: $345,847

Cash invested: $1,120,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90033

• Home prices YoY: -29.9%
• Rents YoY: -2.3%
• Active inventory: 108
• Price-to-rent: 161.2×

Monthly cashflow live

• Estimated rent: $82,708 medium
• Mortgage (P&I): −$20,976
• Tax from tax record: −$2,612 /mo · $31,348/yr
• Insurance: −$1,667
• HOA: −$0
• Vacancy / Maint / Mgmt: −$17,369
• Net cashflow: $40,084

Break-even live

Break-even rent $31,969

Max offer price $4,000,000

Occupancy floor 47%

Sensitivity live

Price	-10% $42,348	-5% $41,216	+0% $40,084	+5% $38,952	+10% $37,820
Rent	-10% $33,550	-5% $36,817	+0% $40,084	+5% $43,351	+10% $46,618
Rate	-1.0pp $42,098	-0.5pp $41,101	base $40,084	+0.5pp $39,047	+1.0pp $37,993

40-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 40× units	2	1	$82,720
Total (40 units)			$82,708

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $1,000,000
• Closing costs: $120,000
• Reserves months: —
• Total cash needed: —

Listing history 34 events

1. 2026-06-21
   days on market $4,000,000 Active 114 DOM
2. 2026-06-18
   days on market $4,000,000 Active 111 DOM
3. 2026-06-17
   days on market $4,000,000 Active 110 DOM
4. 2026-06-16
   days on market $4,000,000 Active 109 DOM
5. 2026-06-15
   days on market $4,000,000 Active 108 DOM
6. 2026-06-13
   days on market $4,000,000 Active 106 DOM
7. 2026-06-09
   days on market $4,000,000 Active 102 DOM
8. 2026-06-08
   days on market $4,000,000 Active 101 DOM
9. 2026-06-07
   days on market $4,000,000 Active 100 DOM
10. 2026-06-04
    days on market $4,000,000 Active 97 DOM
11. 2026-06-03
    days on market $4,000,000 Active 96 DOM
12. 2026-06-02
    days on market $4,000,000 Active 95 DOM
13. 2026-06-01
    days on market $4,000,000 Active 94 DOM
14. 2026-05-31
    days on market $4,000,000 Active 93 DOM
15. 2026-02-27
    listed $4,000,000 Active 2492-char remark

    Show marketing remark (2492 chars)

    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.

16. 2025-06-27
    historical
17. 2025-04-25
    listed $4,450,000 Active
18. 2024-09-30
    soldstatus $2,500,000 Sold
19. 2024-09-30
    soldstatus $2,500,000
20. 2024-08-29
    status Pending
21. 2024-07-30
    historical Backup Offers Accepted
22. 2024-03-01
    listed $4,750,000 Active
23. 2024-03-01
    listed $4,750,000
24. 2020-06-05
    status Pending
25. 2019-03-05
    status Pending
26. 2018-01-11
    status Pending
27. 2017-12-01
    listed Active
28. 2017-09-08
    historical Cancelled
29. 2017-04-17
    price
30. 2017-03-06
    listed Active
31. 2013-12-31
    historical Expired
32. 2013-08-23
    listed Active
33. 2004-08-17
    historical
34. 2004-03-12
    listed

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast CA · Resets to sale price

• Current annual tax: $31,348 · $2,612/mo
• Projected year-2 tax: $31,348 · $2,612/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Taxation est. · year 1

• Rental income: $992,496
• − Mortgage interest: −$224,062
• − Property taxes: −$31,348
• − Insurance: −$20,000
• − Repairs & maintenance: −$79,400
• − Management: −$79,400
• − Depreciation: −$116,364
• Taxable income: $441,923
• Est. tax owed @ 24.0%: −$106,061
• After-tax cash flow: $374,945/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 45,647
• Household income: $59,652
• Rent vs Own: 82.4% rent · 17.6% own
• Severe rent burden: 3159.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Predominantly Hispanic (90%)
• Race & ethnicity: Hispanic / Latino 90% Two or more races 13% Asian 4% White 3% Native American 3% Black 1%
• Hispanic origin (detail): Mexican 75%
• Foreign-born: 43% · Canada, South Korea, China
• Languages at home: 16% English-only · Spanish 80% Other Asian/Pacific 1% Korean 1%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -201.59%
• Current HPI: 472.4588
• Rent YoY: ▼ -2.34%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

-15.8% since first listed

20 events — show timeline

• 2026-02-27 Listed $4,000,000 CRMLS
• 2025-06-27 Listing Removed — CRMLS
• 2025-04-25 Listed $4,450,000 CRMLS
• 2024-09-30 Sold (MLS) $2,500,000 SDMLS
• 2024-09-30 Sold (MLS) $2,500,000 TheMLS
• 2024-08-29 Pending — TheMLS
• 2024-07-30 Contingent — TheMLS
• 2024-03-01 Listed $4,750,000 SDMLS
• 2024-03-01 Listed $4,750,000 TheMLS
• 2020-06-05 Pending — TheMLS
• 2019-03-05 Pending — TheMLS
• 2018-01-11 Pending — TheMLS
• 2017-12-01 Listed — TheMLS
• 2017-09-08 Delisted — TheMLS
• 2017-04-17 Price Changed — TheMLS
• 2017-03-06 Listed — TheMLS
• 2013-12-31 Delisted — TheMLS
• 2013-08-23 Listed — TheMLS
• 2004-08-17 Delisted — TheMLS
• 2004-03-12 Listed — TheMLS

Property tax history

+11.0%/yr

Latest (2025): $31,348 · +11.0% YoY. Source: county tax records.