What stands out.

Fully leased to one corporate tenant from day one, so there is no lease-up to manage.
Completed in 2026. As new construction, the property is not subject to rent control.
Rent rises every year by the greater of 3% or CPI, and two 3-year options extend the lease to as long as nine years.
The tenant covers utilities, vacancy, repairs and maintenance under the master lease.

The numbers

135 E. 119th Street, Los Angeles.

List price$2,579,000

Per unit$644,750

Per SF$305.28

Cap rate (in-place / market)8.56% / 7.63%

GRM (in-place / market)9.34 / 10.27

In-place NOI$220,883

Building8,448 SF

Lot8,683 SF

Units4, plus a rec room with bath and kitchen

Unit mixTwo 7-bed / 7.5-bath · two 4-bed / 4.5-bath

Built2026 · Not rent-controlled

LeaseCorporate housing master lease, Sept. 1, 2026 to Sept. 1, 2029

Base rent$23,000 per month · $276,000 per year

Rent increasesAnnual, greater of 3% or CPI

Renewal optionsTwo 3-year extensions

Tenant paysUtilities, vacancy, repairs and maintenance

For sale · 135 E. 119th Street

Request the offering memorandum.

Rent roll, lease terms, financials and comps are in the OM. Tell us where to send it.

Tom Watkins Regional Vice President of Investments
(310) 488-1789
tom.watkins@centadv.com
CalDRE #01754440 Listed with Kyle Hernandez, Centennial Advisers

Request the OM

Information is from sources deemed reliable but is not guaranteed, and is subject to change, prior sale or withdrawal without notice. Buyers should verify all figures and conduct their own due diligence. Nothing on this page is an offer to sell or a solicitation of an offer to buy. Tom Watkins is a licensed real estate broker with Centennial Advisers.