REQUEST A TOUR If you would like to see this home without being there in person, select the "Virtual Tour" option and your agent will contact you to discuss available opportunities.
In-PersonVirtual Tour
$ 4,500,000
Est. payment | /mo
7 Beds
7 Baths
8,161 Sqft Lot
$ 4,500,000
Est. payment | /mo
7 Beds
7 Baths
8,161 Sqft Lot
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
Listed by Steven Gray, DRE#02194905 eXp Realty of Greater Los Angeles
NEARBY SCHOOLS & PROPERTIES
"My job is to find and attract mastery-based agents to the office, protect the culture, and make sure everyone is happy! "