351 S State, Los Angeles, California 90033, Los Angeles, 90033 - 0 bed, 0 bath
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Los Angeles, California 90033
This newly constructed Multifamily Asset is a High-Potential Investment Opportunity, listed at $4,500,000, which aligns closely with the $4,528,023 Fair Market Value. Completed in 2024 with a Mint Condition Rating, the property features modern finishes and a private deck. Generating $25,000 in monthly income, it offers immediate, stabilized cash flow with a 5.82% CAP rate. Its flexible corporate lease structure provides significant operational versatility. This is a premier acquisition for Buy-and-Hold Investors or Institutional Funds seeking a low-maintenance, income-producing asset in a dynamic urban market.
Comparables within 1 miles sold in recently
| Address | Sold Price | Beds | Baths | Sq Ft | $/Sqft | Distance |
|---|---|---|---|---|---|---|
★ 351 S State Subject | $4,500,000* List Price | 0 | 0 | 10,137 | $447 | - |
A 327 N Chicago Street Active | $3,500,000 List Price | 0 | 0 | 7,724 | $453 | 0.6 mi |
* Subject property listed price vs sold prices of comps.
Property is new construction or fully renovated.
This is a brand-new 2024 construction in mint condition. It features modern kitchens with new stainless steel appliances, contemporary bathrooms with high-end fixtures and LED mirrors, and updated systems including wall-mounted mini-split HVAC units and recessed lighting throughout.
Completed in 2024, this asset features modern building standards and systems, ensuring minimal immediate capital expenditures and lower long-term maintenance costs for the owner.
The property generates a robust $25,000 monthly income with a 5.82% CAP rate under a corporate master lease, offering investors reliable and immediate returns upon acquisition.
Situated in the high-demand Boyle Heights area, the property offers flexible exit strategies for corporate, student, or workforce housing, catering to diverse tenant profiles.
At a $4.5 million valuation for a triplex, the price per unit is significantly above the area average, which may challenge traditional financing appraisals and limit the buyer pool.
The current income is heavily dependent on a single corporate master lease; any vacancy or termination of this agreement would result in a total loss of immediate cash flow until repositioned.
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
No exterior & parking available.
No sensitive facilities data found.
| Feature | Subject | Average Home |
|---|---|---|
| Beds | 0.0 | 5.0 |
| Baths | 0.0 | 3.0 |
| Square foot | 10,137 | 2,250 |
| Lot Size | 8,161 | 5,864 |
| Price | $4.50M | $826.7K |
| Price per sq ft | $444 | $395 |
| Built year | 2024 | 1925 |
| HOA | $0 | $0 |
| Days on market | 4 | 83 |
Jul 18, 2026
$4,500,000
Initial Listing
Dec 31, 2015
$470,000
Public Record