# 351 S State, Los Angeles, CA 90033

> **TL;DR:** 7bd/7ba multi-family, $4,190,000, built 2024.
> A/C, 8-car garage. Est. $22,409/mo. Listed 105 days.

## Property at a Glance

| Attribute | Value |
|-----------|-------|
| Price | $4,190,000 |
| Bedrooms | 7 |
| Bathrooms | 7 full |
| Year Built | 2024 |
| Lot Size | 8,163 sqft (0.19 acres) |
| Stories | 3 |
| Garage | 8-car |
| Property Type | Multi-Family (Triplex) |
| Status | Active |
| Days on Market | 105 |

## Why This Home Stands Out

- **Large Garage** - 8-car garage

## Estimated Monthly Costs

| Category | Amount |
|----------|--------|
| Principal & Interest (20% down, 30-year at 6.5%) | $21,187 |
| Estimated Insurance | $1,222 |
| **Total** | **$22,409** |

## Key Amenities

- A/C
- 8-car garage

## Property Highlights

- Built in 2024
- 0.19 acre lot
- 3 stories
- 8 parking spaces

## Description

### Agent 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

- **Address:** 351 S State, Los Angeles, CA 90033
- **County:** Los Angeles

## Listing Agent

- **Name:** Steven Gray · **License:** 02194905
- **Brokerage:** eXp Realty of Greater Los Angeles, Inc
- **Broker Phone:** (888) 584-9427

## Photos

![351 S State - Photo 1](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3139082018r.jpg)

![351 S State - Photo 2](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2030486951r.jpg)

![351 S State - Photo 3](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2852081448r.jpg)

![351 S State - Photo 4](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f632277086r.jpg)

![351 S State - Photo 5](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f994864114r.jpg)

![351 S State - Photo 6](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f4063751699r.jpg)

![351 S State - Photo 7](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1621732484r.jpg)

![351 S State - Photo 8](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2370848083r.jpg)

![351 S State - Photo 9](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f408583081r.jpg)

![351 S State - Photo 10](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2771726877r.jpg)

![351 S State - Photo 11](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2118875731r.jpg)

![351 S State - Photo 12](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f760784163r.jpg)

![351 S State - Photo 13](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3751255998r.jpg)

![351 S State - Photo 14](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3518055072r.jpg)

![351 S State - Photo 15](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1778599534r.jpg)

![351 S State - Photo 16](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f239911250r.jpg)

![351 S State - Photo 17](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3634596497r.jpg)

![351 S State - Photo 18](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f163199863r.jpg)

![351 S State - Photo 19](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3442707205r.jpg)

![351 S State - Photo 20](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f827444581r.jpg)

![351 S State - Photo 21](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1139778568r.jpg)

![351 S State - Photo 22](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f622259965r.jpg)

![351 S State - Photo 23](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2329288121r.jpg)

![351 S State - Photo 24](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1000911639r.jpg)

![351 S State - Photo 25](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3623293845r.jpg)

![351 S State - Photo 26](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f2478942860r.jpg)

![351 S State - Photo 27](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1480609570r.jpg)

![351 S State - Photo 28](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f645642524r.jpg)

![351 S State - Photo 29](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f3805533422r.jpg)

![351 S State - Photo 30](http://lh.rdcpix.com/2568fac0c375a60772403dbca4cfa1b3l-f1411304580r.jpg)

---

**MLS#:** PW26156984 | **Updated:** 2026-10-27
**Source:** listhub

*Copyright © 2026 California Regional Multiple Listing Service, Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.*

[View on PropertySimple](https://www.propertysimple.ai/listing/351-s-state-los-angeles-ca-90033-3e0cb2eef3534fe3b84ba2ee684ee526)

---

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