1703 Toberman St - Apartments FOR SALE


Los Angeles, CA 90015- Pico-Union
$1,100,000 USD
310-903-0222
1703 Toberman St, Los Angeles, CA for Sale
$1,100,000 USD
Apartments - FOR SALE
1/67
null | 8.08% Cap Rate

1703 Toberman St
Los Angeles, CA 90015
Pico-Union


HIGHLIGHTS

  • Renovated 1899 Victorian — turn-key 2022 renovation
  • 5 legal units operated as 6 legal income keys
  • 8.08% in-place cap on $88,833 NOI
  • Contracted 1-BR lease-up + below-market studios
  • Blocks from South Park, LA Live and the DTLA core

OVERVIEW

PRICE IMPROVEMENT — now $1,100,000, reduced $50,000. Toberman House is a turn-key renovated 1899 Victorian boutique asset steps from South Park and Downtown Los Angeles in 90015, offered at an 8.08% in-place cap rate on $88,833 of net operating income. RENOVATED 1899 VICTORIAN: A distinctive corner Victorian fully renovated in 2022 — new kitchens, baths, wood-look flooring and ductless mini-split A/C throughout, with in-unit laundry hookups and on-site parking. Landmark curb appeal with modern, low-maintenance interiors. Five legal units operated as six income keys. CONTRACTED LEASE-UP + MARK-TO-MARKET: A contracted one-bedroom plus parking and below-market studios drive further income growth. EFFICIENT MICRO-UNIT MODEL: A diversified, fully renovated rent roll of four studios, a one-bedroom and a two-bedroom; housing-assisted studios add income stability. DOWNTOWN-ADJACENT 90015: Blocks from South Park, LA Live and the Downtown Los Angeles core, one of the city's densest and most transit-connected submarkets. Offered individually or as part of a 7-asset Central-LA portfolio. Full OM, proforma, T-12 and rent roll available. Full co-broke offered.

FOR SALE DETAILS

PRICE

$1,100,000 USD

PRICE/SF

$403 USD /SF

# OF UNITS

5

PRICE/UNIT

$220,000

CAP RATE

8.08%

% LEASED

83%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Toberman House – 1899 Victorian, DTLA

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1899

PARKING SPACES

2

LAND DETAILS

LAND ACRES

0.08 AC

LAND SF

3,485 SF

ZONING

LARD1.5

APN/PARCEL ID

5135-025-017

ASK ABOUT THIS PROPERTY

Logan AltmanAltman Apartments LLCMore Info
310-903-0222

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Logan AltmanAltman Apartments LLCMore Info
310-903-0222

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.