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  • 351 S State

351 S State, Los Angeles, CA 90033

$4,500,000 Approx. USD 0 beds, 0 baths

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Photo of Xavier Inguanzo

Xavier Inguanzo REALTOR® - Sales Associate 626-695-1592 m
626-440-5100 o
949-565-8511 f
Lic#: 02233421
NRDS ID: 190015105
XavierInguanzo@bhhscal.com Text Me
Call My Cell
Call My Office
949-565-8511 f
Lic#: 02233421
NRDS ID: 190015105
XavierInguanzo@bhhscal.com Pasadena Office
540 South Lake Ave
Pasadena, CA 91101
Phone: 626-440-5100
Fax: 626-568-8120
 Pasadena 540 South Lake Ave
Pasadena, CA 91101
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Fax: 626-568-8120
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Listing Agent


Steven Gray | steven@stevenvgray.com
Lic#: 02194905
Broker: Courtesy of eXp Realty of Greater Los Angeles
Phone: 888-652-1314

Agent Remarks

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

Listing Details

Property type: Triplex (Multi-Family)
Status: Active
MLS# PW26156984
Price: $4,500,000
Beds: 0
Baths: 0
None fireplaces
Built in 2024
0.19 acres
Lot size: 0.1874
County: Los Angeles
Lot description: ZeroToOneUnitAcre
Heating/cooling: Central Air,Ductless
Heating description: Combination,Central,Ductless
MLS area: BOYH - Boyle Heights

Last Updated: 7/19/2026

 Days On Market (DOM): 13

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This listing belongs to the BOYH - Boyle Heights MLS area

Lat/Long: 34.043676, -118.218788.
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DISCLAIMER: There is NO WARRANTY, expressed or implied, for the accuracy of this information or its applicability to your financial situation. Please consult your financial and/or tax advisor. GET PRE-APPROVED The loan's interest rate will depend upon the specific characteristics of the loan transaction and credit profile up to the time of closing.

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Photo of Xavier Inguanzo

Xavier Inguanzo REALTOR® - Sales Associate 626-695-1592 m
626-440-5100 o
949-565-8511 f
Lic#: 02233421
NRDS ID: 190015105
XavierInguanzo@bhhscal.com Text Me
Call My Cell
Call My Office
949-565-8511 f
Lic#: 02233421
NRDS ID: 190015105
XavierInguanzo@bhhscal.com
Pasadena Office
540 South Lake Ave
Pasadena, CA 91101
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