351 S State, Los Angeles, CA 90033
351 S State, Los Angeles, CA 90033
351 S State, Los Angeles, CA 90033
30
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$4,500,000
Est. payment /mo
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7 Beds
7 Baths
8,161 Sqft Lot
New

351 S State Los Angeles, CA 90033

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Heejung Petri

Heejung Petri

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Key Details

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Active

Purchase Type For Sale

MLS Listing ID PW26156984

Bedrooms 7

Lot Size 8,161 Sqft

Property Sub-Type Res Income 2-4 Units

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

Location

State CA

County Los Angeles

Zoning Seller

Direction turn north on state st from east 4th st

Interior

Heating Combination Heating

Cooling Central Forced Air

Fireplace No

Exterior

View Y/N No

Building

Story 3

Level or Stories 3

Others

Senior Community No

Tax ID 5174019047

Acceptable Financing Cash, Conventional, FHA

Listing Terms Cash, Conventional, FHA

MLS Router / San Diego MLS
Listed by Steven Gray, DRE#02194905 eXp Realty of Greater Los Angeles 

NEARBY SCHOOL & BUSINESS

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Heejung Petri

Heejung Petri

Agent | License ID: 02209755

+1(619) 517-8820

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351 S State