A newly constructed, non-rent-controlled, fully leased multifamily investment offering immediate in-place income and an exceptional going-in yield. Offered at $2,579,000, the Property generates $220,883 of in-place NOI, providing investors with an attractive 8.56% going-in cap rate at a basis of approximately $644,750 per residential unit and $305.28 per gross RSF. The Property represents the highest going-in cap rate for a newly constructed fourplex multifamily asset in California, providing investors with a rare opportunity to acquire recently delivered residential product at an exceptional yield while benefiting from modern construction, stabilized occupancy, and strong in-place cash flow. Completed in 2026, the Property consists of approximately 8,448 gross RSF situated on an 8,683 SF lot. The asset comprises four residential units plus one ground-floor store, including two 7-bedroom / 7.5-bath units and two 4-bedroom / 4.5-bath units. New state-of-the-art utilities provide investors with modern residential product designed for long-term ownership. The Property is fully leased to a corporate-backed tenant under a three-year lease with renewal options, providing contractual income visibility and immediate cash flow from day one. Current rental income totals $23,000 per month, or $276,000 annually, with current rents exceeding underwritten market rents and a 9.34 gross rent multiplier. Supported by the highest cap rate among newly constructed 4-plexes properties in California, 100% occupancy, new 2026 construction, non rent controlled, and corporate-backed tenancy, 135 East 119th Street represents a rare opportunity to acquire a stabilized Los Angeles multifamily asset combining superior current yield, predictable income, and newly delivered residential product.