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Jenn Smart

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351 S State , Los Angeles, CA 90033
$4,190,000
Est. Payment: $9,311.11/mo
7 Bed
7 Bath
10137 Sqft
0.19 Acres
Status: active | Days on site: 66
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PB21693 - PWSTEGRA
By proceeding you are providing Jenn Smart with your express written consent to send you marketing and promotional communications via calls or prerecorded messages dialed by a natural person or by using an artificial or automated telephone dialing system.

By checking the box, you consent to receive marketing text messages. If checked, you consent to receiving texts including marketing and promotional communications, from Jenn Smart. Messages and data rates may apply. Message frequency varies. To opt out of text messages, reply STOP. Your consent is not required as a condition of any purchase. By continuing, you also agree to our Terms & Conditions and Privacy Policy.
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Jenn Smart
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House 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
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Highlights

Listed by Steven Gray , 213-570-9275 eXp Realty of Greater Los Angeles , 888-652-1314. CRMLS/Multi-Regional MLS mls logo

Property Type

Multi-Family
Lot/Acreage
0.19

Year Built

2024

County

Los Angeles

Area

BOYH - Boyle Heights

Listing ID

PW26156984

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Interior Features

Bedrooms and Bathrooms
  • ▪ Bedrooms:7
  • ▪ Bathrooms:7
Air Cond:Central Air,Ductless
Fireplaces:
Water:Public

Exterior Features

Lot:0-1 Unit/Acre,No Land Lease
Garage Capacity:8
Others:
  • ▪ Additional:2+ Total Units
Sewer:Public Sewer
Principal Interest
$9,311
Taxes
$2,671

Home Price

$4,190,000

Loan Details

30 yrs
0%

Down Payment

20%
$838,000
All calculations are estimates and provided by Blueroof360. Today’s Rates provided by Blueroof360. Information and interactive calculators are made available to you only as self-help tools for your independent use and are not intended to provide investment or tax advice. We cannot and do not guarantee their applicability or accuracy in regards to your individual circumstances. All examples are hypothetical and are for illustrative purposes. We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
Monthly Price:
$9,311.11

Principal

Taxes

Principal Taxes HOA Total
Monthly $9,311.11 $2,671.13 $0.00 $11,982.24
Yearly $111,733.33 $32,053.50 $0.00 $143,786.83
Total $3,352,000.00 $961,605.00 $0.00 $4,313,605.00
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So-Crates Johnson
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Market insight data is pulled from the same city as the listing being viewed (Los Angeles, CA).

The schools listed are within a 2-mile radius of the property; however, attendance is not guaranteed. Please contact the local school district to confirm zoning and enrollment options.

Based on information from California Regional Multiple Listing Service, Inc. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent. All properties are subject to prior sale, change or withdrawal.

IDX service by Blueroof 360

Data last updated: 2026-11-14T17:38:50.000Z

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