<?xml version="1.0"?>
<edgarSubmission>

    <schemaVersion>X0708</schemaVersion>

    <submissionType>D</submissionType>

    <testOrLive>LIVE</testOrLive>

    <primaryIssuer>
        <cik>0002038218</cik>
        <entityName>KB Lake Elmo, DST</entityName>
        <issuerAddress>
            <street1>1645 VILLAGE CENTER CIRCLE, SUITE 200</street1>
            <city>LAS VEGAS</city>
            <stateOrCountry>NV</stateOrCountry>
            <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
            <zipCode>89134</zipCode>
        </issuerAddress>
        <issuerPhoneNumber>702-454-9000</issuerPhoneNumber>
        <jurisdictionOfInc>DELAWARE</jurisdictionOfInc>
        <issuerPreviousNameList>
            <value>None</value>
        </issuerPreviousNameList>
        <edgarPreviousNameList>
            <value>None</value>
        </edgarPreviousNameList>
        <entityType>Other</entityType>
        <entityTypeOtherDesc>Statutory Trust</entityTypeOtherDesc>
        <yearOfInc>
            <withinFiveYears>true</withinFiveYears>
            <value>2024</value>
        </yearOfInc>
    </primaryIssuer>

    <relatedPersonsList>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>Kingsbarn Holdings Company, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing-Member</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>Kingsbarn Realty Capital, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the Sponsor</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB MT Holdings, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Jeffrey</firstName>
                <lastName>Pori</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Managing-Member, CEO of the Manager of the Sponsor</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB Exchange Properties, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Sponsor</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB Lake Elmo ST, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Manager of the Trust (the Signatory Trustee)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB Lake Elmo Holdings, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Affiliate of the Trust (the Depositor)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB Lake Elmo MT, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Controlled by the Sponsor and affiliate of the Depositor (the Master Tenant)</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>-</firstName>
                <lastName>KB Acquisitions, LLC</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Promoter</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>Affiliate of the Depositor</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Tommy</firstName>
                <lastName>Dupuis</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>CFO and COO of the Manager of the Sponsor</relationshipClarification>
        </relatedPersonInfo>
        <relatedPersonInfo>
            <relatedPersonName>
                <firstName>Ray</firstName>
                <lastName>Jones</lastName>
            </relatedPersonName>
            <relatedPersonAddress>
                <street1>1645 Village Center Circle, Suite 200</street1>
                <city>Las Vegas</city>
                <stateOrCountry>NV</stateOrCountry>
                <stateOrCountryDescription>NEVADA</stateOrCountryDescription>
                <zipCode>89134</zipCode>
            </relatedPersonAddress>
            <relatedPersonRelationshipList>
                <relationship>Executive Officer</relationship>
            </relatedPersonRelationshipList>
            <relationshipClarification>General Counsel of the Manager of the Sponsor</relationshipClarification>
        </relatedPersonInfo>
    </relatedPersonsList>

    <offeringData>
        <industryGroup>
            <industryGroupType>Commercial</industryGroupType>
        </industryGroup>
        <issuerSize>
            <revenueRange>Decline to Disclose</revenueRange>
        </issuerSize>
        <federalExemptionsExclusions>
            <item>06c</item>
        </federalExemptionsExclusions>
        <typeOfFiling>
            <newOrAmendment>
                <isAmendment>false</isAmendment>
            </newOrAmendment>
            <dateOfFirstSale>
                <value>2024-08-21</value>
            </dateOfFirstSale>
        </typeOfFiling>
        <durationOfOffering>
            <moreThanOneYear>true</moreThanOneYear>
        </durationOfOffering>
        <typesOfSecuritiesOffered>
            <isOtherType>true</isOtherType>
            <descriptionOfOtherType>Class 1 beneficial interests in a Delaware Statutory Trust reflecting beneficial interests in real estate</descriptionOfOtherType>
        </typesOfSecuritiesOffered>
        <businessCombinationTransaction>
            <isBusinessCombinationTransaction>false</isBusinessCombinationTransaction>
            <clarificationOfResponse></clarificationOfResponse>
        </businessCombinationTransaction>
        <minimumInvestmentAccepted>288500</minimumInvestmentAccepted>
        <salesCompensationList></salesCompensationList>
        <offeringSalesAmounts>
            <totalOfferingAmount>28850000</totalOfferingAmount>
            <totalAmountSold>8303631</totalAmountSold>
            <totalRemaining>20546369</totalRemaining>
            <clarificationOfResponse>Total offering amount represents 100 Class 1 beneficial interests in the Trust at $288,500 per interest</clarificationOfResponse>
        </offeringSalesAmounts>
        <investors>
            <hasNonAccreditedInvestors>false</hasNonAccreditedInvestors>
            <totalNumberAlreadyInvested>2</totalNumberAlreadyInvested>
        </investors>
        <salesCommissionsFindersFees>
            <salesCommissions>
                <dollarAmount>684000</dollarAmount>
                <isEstimate>true</isEstimate>
            </salesCommissions>
            <findersFees>
                <dollarAmount>0</dollarAmount>
            </findersFees>
            <clarificationOfResponse>Offers and sales may be made via real estate brokers licensed in CA who are exempt from federal and state broker-dealer licensing requirements. They may be paid a commission of up to 4% of the aggregate equity portion ($16,500,000) of the interests.</clarificationOfResponse>
        </salesCommissionsFindersFees>
        <useOfProceeds>
            <grossProceedsUsed>
                <dollarAmount>2966000</dollarAmount>
                <isEstimate>true</isEstimate>
            </grossProceedsUsed>
            <clarificationOfResponse>Sponsor/its affiliate will receive financing and acquisition fee totaling $2,795,000 for structuring the offering and the property acquisition, plus $171,000 reimbursement for relevant offering expenses incurred related with the Offering totaling.</clarificationOfResponse>
        </useOfProceeds>
        <signatureBlock>
            <authorizedRepresentative>false</authorizedRepresentative>
            <signature>
                <issuerName>KB Lake Elmo, DST</issuerName>
                <signatureName>/s/ Jeffrey A. Pori</signatureName>
                <nameOfSigner>Jeffrey A. Pori</nameOfSigner>
                <signatureTitle>Authorized signatory</signatureTitle>
                <signatureDate>2024-11-05</signatureDate>
            </signature>
        </signatureBlock>
    </offeringData>
</edgarSubmission>
