$4,500,000
351 S State
Los Angeles, CA, 90033
Property Description
351 S State Street is a newly constructed, income-producing multifamily asset located in the heart of Boyle Heights, one of Los Angeles’ most dynamic and rapidly evolving neighborhoods. Completed in 2024 and reaching full occupancy in 2025, the property is currently stabilized and generating $25,000 per month in rental income under a corporate lease structure, offering immediate and reliable cash flow.
The property is ideally suited for corporate housing, workforce housing, or student housing, with flexible exit optionality. A future owner may elect to maintain the existing corporate lease for stable income or take delivery vacant, allowing for repositioning or alternative leasing strategies.
RENTS IN PLACE: The asset is currently stabilized and generating $25,000 per month in secured income under a master lease with a corporate tenant, providing immediate and predictable cash flow. A buyer also retains the option to take the property delivered vacant, allowing for repositioning, alternative leasing strategies, or owner-specific operational plans.
Annual Gross Income: $300,000
NOI: $261,768
GRM: 15%
CAP In-place: 5.82%
Operating Expenses: $38, 232
The property is ideally suited for corporate housing, workforce housing, or student housing, with flexible exit optionality. A future owner may elect to maintain the existing corporate lease for stable income or take delivery vacant, allowing for repositioning or alternative leasing strategies.
RENTS IN PLACE: The asset is currently stabilized and generating $25,000 per month in secured income under a master lease with a corporate tenant, providing immediate and predictable cash flow. A buyer also retains the option to take the property delivered vacant, allowing for repositioning, alternative leasing strategies, or owner-specific operational plans.
Annual Gross Income: $300,000
NOI: $261,768
GRM: 15%
CAP In-place: 5.82%
Operating Expenses: $38, 232
Property Details
Price:
$4,500,000
MLS #:
PW26156984
Status:
Active
Beds:
0
Baths:
0
Type:
Single Family
Subtype:
Triplex
Neighborhood:
boyhboyleheights
Listed Date:
Jul 19, 2026
Total Sq Ft:
10,137
Lot Size:
8,161 sqft / 0.19 acres (approx)
Year Built:
2024
Schools
Interior
Cooling
CA, DUC
Heating
CF, COM, DUC
Laundry Features
IN
Levels
C
Exterior
Common Walls
_2CW
Community Features
SDW, SL, URB
Garage Spaces
8
Parking Spots
8
Parking Total
8
Financial
Need more info?
If you have any questions about this property, we at the Mohr Group would be happy to answer them. Click the button below and send us a message.
Ask a QuestionReady to go see it?
Schedule a Showing
Mortgage Calculator
Similar Listings Nearby
Courtesy of eXp Realty of Greater Los Angeles. Disclaimer: All data relating to real estate for sale on this page comes from the Broker Reciprocity (BR) of the California Regional Multiple Listing Service. Detailed information about real estate listings held by brokerage firms other than Mohr Real Estate Group include the name of the listing broker. Neither the listing company nor Mohr Real Estate Group shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. The Broker providing this data believes it to be correct, but advises interested parties to confirm any item before relying on it in a purchase decision. Copyright 2026. California Regional Multiple Listing Service. All rights reserved. 351 S State
Los Angeles, CA
