Newly Constructed Multifamily
351 S State Los Angeles, CA 90033
New
351 S State, Los Angeles, CA, 90033
$4,500,000
For Sale
$4,500,000
MULTI_FAMILY - Los Angeles, CA
Lot Size0.19 Acres
Days on Market6
Property Features for 351 S State
General Information
- Property type
- Residential Multi Family
- Property subtype
- Triplex
- Bedrooms
- 7
- Bathrooms
- 7
- Rooms
- Bathroom 2, Bedroom 4, Bathroom 6, Bedroom 1, Bedroom 6, Bedroom 2, Bathroom 1, Laundry Room, Bathroom 7, Bathroom 3, Bedroom 7, Bathroom 4, Bedroom 3, Bathroom 5, Bedroom 5
- Parking
- 8
- Standard status
- Active
- APN
- 5174019047
- Lot size
- 0.19 Acres
Utilities
- Utilities
- Phone Available
- Sewer type
- Public Sewer
- Heating system
- Ductless (Heating), Central
- Cooling system
- Central Air, Ductless
- Water source
- Public
Building Details
- Year built
- 2024
- Floors in Building
- 3
- Number of units
- 6
Listing Agency
eXp Realty of Greater Los Angeles
(888) 652-1314
303 N Glenoaks Blvd Ste. 200, Burbank, CA
Listed by
Steven Gray · License #02194905
(213) 570-9275
Added: Jul 15 Updated: Jul 19 at 9:22 am Checked: Jul 20 at 3:06 pm
MLS# PW26156984
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Investment Insights
Based on property information with market context.
351 S State Street is a newly constructed income-producing multifamily asset completed in 2024. The property is reported as stabilized, with full occupancy targeted for 2025 and rental income generated under a secured corporate/master lease structure. A buyer also retains the option to take the property delivered vacant, creating flexibility for alternative leasing or repositioning.
The property is located in Boyle Heights, Los Angeles (90033). The offering includes stated rents in place of $25,000 per month under the current lease arrangement.
Reported financials include annual gross income of $300,000, NOI of $261,768, GRM of 15%, and a cap rate of 5.82%, with operating expenses listed at $38,232.
The property is located in Boyle Heights, Los Angeles (90033). The offering includes stated rents in place of $25,000 per month under the current lease arrangement.
Reported financials include annual gross income of $300,000, NOI of $261,768, GRM of 15%, and a cap rate of 5.82%, with operating expenses listed at $38,232.
Key Highlights
- Newly constructed 2024 income‑producing multifamily asset at 351 S State Street, completed in 2024 and reaching full occupancy in 2025
- Currently generating $25,000/month rental income under a master lease with a corporate tenant (secured in‑place)
- Annual gross income of $300,000 with NOI listed as $261,768 and operating expenses listed as $38,232
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Apartment buildings
Similar For Sale Nearby
FAQs
What type of property is this?
Apartment building - Newly constructed multifamily property completed in 2024 and stabilized under a corporate/master lease structure.
Where is this apartment building located?
The property is located at 351 S State Los Angeles, CA.
What is the asking price?
The asking price for this property is $4,500,000.
What are key features of this property?
This property features: Newly constructed 2024 income‑producing multifamily asset at 351 S State Street, completed in 2024 and reaching full occupancy in 2025; Currently generating $25,000/month rental income under a master lease with a corporate tenant (secured in‑place); Annual gross income of $300,000 with NOI listed as $261,768 and operating expenses listed as $38,232
