Deal numbers
- Est. cap rate
- 1.0%
- Assumed rent, all units
- $6,810/mo
- Units
- 3
- Price per unit
- $1,396,667
- Est. annual NOI
- $40,860
- Expense assumption
- 50%
Estimates only, based on HUD Fair Market Rents (a conservative 40th percentile floor) and a standard 50% operating expense assumption. Not a guarantee of income or value. Ask Alex for a pro forma using comparable rent data.
Run your own numbers
Adjust the assumptions to see cash flow and cash on cash return.
- Effective gross income
- $77,634
- Operating expenses
- $38,817
- Net operating income
- $38,817
- Annual debt service
- $250,886
- Annual cash flow
- -$212,069
- Cash on cash return
- -20.2%
- Down payment
- $1,047,500
Illustration only, using a 30 year loan and your assumptions above. Not a loan offer, financial advice, or a guarantee. Confirm financing and actual rents independently.
Property details
- Type
- Triplex
- Bedrooms
- 6
- Building size
- 10,137 sqft
- Lot size
- 8,161 sqft
- Year built
- 2024
- Stories
- 3
- Garage spaces
- 8
- Heating
- Combination,Ductless,Central
- Cooling
- Central Air,Ductless
- Pool
- None
- Status
- Active
- Days on market
- 66
- MLS #
- 244976358
About this property
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
351 S State
Los Angeles, Los Angeles, CA, 90033