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1703 Toberman St, Los Angeles, CA 90015
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1703 Toberman St Los Angeles, CA 90015

$1,275,000
  • 1 Beds
  • 9 Baths
  • 2,730 Sq.Ft.
For Sale
$1,275,000 Get Pre-Qualified
Map preview of 1703 Toberman St, Los Angeles, CA 90015

Property Overview: 1703 Toberman St Los Angeles, CA has 1 bedrooms, 9 bathrooms, 2,730 living square feet and 3,509 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 1703 Toberman St, Los Angeles is a completely remodeled 5 unit building with a 7.85% IN PLACE CAP Rate and 8.38 GRM. You will not find a better deal in LA! This is the ideal opportunity for any buyer looking for a low-maintenance, positive leverage asset with high in place cash flow. The subject property is comprised of (1) 2-Bed/2-Bath (1) 1-Bed/1-Bath and (3) Studio/1-Bath units (Brand new C of O shows 5 legal units issued May of 2022). All units have been extensively renovated, including floors, cabinets, bathrooms and all major systems. Internet, phone and TV are provided to the tenants for free. 1703 Toberman St is conveniently located just minutes from Downtown Los Angeles, with easy access to the 10 and 110 freeways. There are many shops and restaurants nearby, making it a prime location for renters.

Listed by Cameron Samimi | BRE #02035763 | Lyon Stahl Investment Real Estate, Inc.
Co-listed by Olga Wright | BRE #01315042 | Lyon Stahl Investment Real Estate, Inc.
Last checked: 14 minutes ago | Last updated: March 20th, 2024 | Source CRMLS | DOM: 108
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Home details

Lot Sq. Ft
3,509
HOA Dues
$0/mo
Year built
1899
Garage
--
Property Type:
Apartment
Status
Active
MLS#
SB23221246
City
Los Angeles
County
Los Angeles
Time on Site
136 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 5
  • Total # of Buildings: 1
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,511
  • Total Rent: $1,511
  • Pro Forma/Market Rent: $1,515
Unit Breakdown 2
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,321
  • Total Rent: $1,321
  • Pro Forma/Market Rent: $1,515
Unit Breakdown 3
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 4
  • # of Units: 1
  • # of Beds: 1
  • # of Baths: 2
  • Actual Rent: $2,168
  • Total Rent: $2,168
  • Pro Forma/Market Rent: $2,200
Unit Breakdown 5
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,611
  • Total Rent: $1,611
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 6
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,085
  • Total Rent: $1,085
  • Pro Forma/Market Rent: $1,085
Unit Breakdown 7
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,082
  • Total Rent: $1,082
  • Pro Forma/Market Rent: $1,085
Unit Breakdown 8
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,400
  • Total Rent: $1,400
  • Pro Forma/Market Rent: $1,625
Unit Breakdown 9
  • # of Units: 1
  • # of Beds: 0
  • # of Baths: 1
  • Actual Rent: $1,601
  • Total Rent: $1,601
  • Pro Forma/Market Rent: $1,625
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 7.85%
  • Gross Rent Multiplier: 8.38
  • Gross Scheduled Income: $152,094
  • Net Operating Income: $100,145
  • Gross Operating Income: $147,531
Annual Expense Breakdown
  • Total Operating Expense: $47,386
  • Electric: $0
  • Gas/Fuel: $0
  • Trash: $0
  • Insurance: $0
  • Professional Management: $0
  • Water/Sewer: $0

Open Houses for 1703 Toberman St

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Property Details for 1703 Toberman St

Interior Features
Laundry Information
  • No Laundry
  • None
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Lot Information
  • Lot Features: 0-1 Unit/Acre
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: 2+ Common Walls
  • Total # of Units: 5
  • Parcel Number: 5135025017
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: Off of Union and Venice
Neighborhood Information
  • Community Features: Urban
View more facts & features

Local Los Angeles Agent

Sale History for 1703 Toberman St

Last sold on November 26th, 2019

  • December, 2023

  • Dec 7, 2023

    Date

    Active

    CRMLS: SB23221246

    $1,300,000

    Price

  • February, 2023

  • Feb 16, 2023

    Date

    Expired

    CRMLS: 22197681

    $1,289,000

    Price

  • Sep 12, 2022

    Date

    Active

    CRMLS: 22197681

    $1,400,000

    Price

  • Listing provided courtesy of CRMLS

    PRICE REDUCED! ~7% CAP RATE on EXISTING NUMBERS!! Looking for a cash cow property with guaranteed income from a non-profit? If yes, then this is THE property for you! We are pleased to present for sale an historic Victorian home which has been carefully and fully restored and upgraded as a 5-unit multi-family apartment community. Current owner has spent approximately $500,000 in capital expenditures to upgrade the property: Completely renovated down to the studs with new electrical, plumbing, HVAC, new sewer to the street, new flooring, kitchens, and bathrooms. Two of the units are rented by the bedroom and all tenants are placed through a program assisting those at risk of homelessness. The rent is guaranteed by non profit agencies and tenant services are provided through the program. The program is in place for 5 years with rental guarantees and incentives in place to benefit the owner. This architectural gem is a turn key property with strong cash flow on a prominent corner lot. Excellent location near USC, DTLA, Convention Center, and easy access to the 10 & 110 Freeways. Great investment opportunity for a 1031 exchange buyer or for any investor looking for reliable cash flow and minimum maintenance. The property is legally entitled as 5 units and it is rented with 7 separate leases through the non profit program. 4 of the units have two shared "Jack & Jill" bathrooms and 4 of the units are completely independent studios. Two of the studios have their own exterior entrances with private yard spaces. There are two tandem parking spaces which are also rented for additional income. Gross Income is over $131k in year 1 with 5% rental increases built in. GRM is just 9.8 and the Cap Rate is 6.9% on the purchase!!! Interior inspection subject to an accepted offer, do not disturb current tenants. Financing options available upon request. Call listing agent for more details!

  • August, 2022

  • Aug 25, 2022

    Date

    Canceled

    CRMLS: SR22152228

    $1,495,000

    Price

  • Jul 11, 2022

    Date

    Active

    CRMLS: SR22152228

    $1,495,000

    Price

  • Listing provided courtesy of CRMLS

    This historic Victorian home has been carefully and fully restored and upgraded as a 5-unit multi-family apartment community. The building was completely renovated down to the studs with new electrical, plumbing, HVAC, new sewer to the street, new flooring, kitchens, and bathrooms. Two of the units are rented by the bedroom and all tenants are placed through a program assisting those at risk of homelessness. The rent is guaranteed by non profit agencies and tenant services are provided through the program. The program is in place for 5 years with rental guarantees and incentives in place to benefit the owner. This architectural gem is a turn key property with strong cash flow on a prominent corner lot. The location of the property is just across the 110 Freeway from DTLA's Convention Center and just across the I-10 freeway from USC. This is perfect for a 1031 exchange or for any investor looking for reliable cash flow. The property is legally entitled as 5 units and it is rented with 7 separate leases through the non profit program. 4 of the units have two shared "Jack & Jill" bathrooms and 4 of the units are completely independent studios. Two of the studios have their own exterior entrances with private yard spaces. There are two tandem parking spaces which are also rented. Gross Income is over $132k in year 1 with 5% rental increases built in. The GRM is 11.3 and the cap rate is 5.8% on the purchase.

  • July, 2022

  • Jul 12, 2022

    Date

    Canceled

    CRMLS: SR22142667

    $1,585,000

    Price

  • Jul 5, 2022

    Date

    Active

    CRMLS: SR22142667

    $1,585,000

    Price

  • Listing provided courtesy of CRMLS

    This beautiful historic Victorian home has been carefully and fully restored and upgraded to a new use as an 8-unit multi-family apartment community. The building was gut renovated down to the studs with new electrical, plumbing, HVAC, new sewer to the street, new flooring, kitchens, and bathrooms. All tenants are placed through a program assisting those at risk of homelessness. The rent has backing from non profit agencies and tenant services are provided through the program. The program is in place for 5 years with rental guarantees and incentives in place to benefit the owner. This is a turn key property with strong cash flow in an architectural gem on a prominent corner lot just across the 110 Freeway from DTLA's Convention Center and just across the I-10 from USC. Perfect for a 1031 exchange or for any investor looking for reliable cash flow. The property is legally entitled as 5 units and it is rented as 8 separate units. 4 of the units have two shared "Jack & Jill" bathrooms and 4 of the units are completely independent studios. Gross Income is over $132k in year 1 with 5% rental increases built in. The GRM is 12 and cap rate is 5.5% on the purchase.

  • November, 2019

  • Nov 26, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • July, 2019

  • Jul 15, 2019

    Date

    Sold (Public Records)

    Public Records

    --

    Price

  • November, 2018

  • Nov 16, 2018

    Date

    Sold

    CRMLS: PW17271142

    $566,000

    Price

  • Jul 31, 2018

    Date

    Active Under Contract

    CRMLS: PW17271142

    $725,000

    Price

  • Jun 25, 2018

    Date

    Price Change

    CRMLS: PW17271142

    $725,000

    Price

  • Jan 5, 2018

    Date

    Price Change

    CRMLS: PW17271142

    $750,000

    Price

  • Dec 7, 2017

    Date

    Active

    CRMLS: PW17271142

    $800,000

    Price

  • Listing provided courtesy of CRMLS

    Wow!! Victorian Style Charmer!!! Located Just Minutes Away From Down Town Los Angeles, Staples Center, LA Live, LA Convention Center, USC, And More!! Easy Access To The 10 & 110 Freeways! Located On A Corner Lot With A Wide Street. Huge Formal Living Room! Nice Living Room Area Off Of The Kitchen And Downstairs Bedroom! Full Bathroom Downstairs! 4 Bedrooms Upstairs With A Full Bathroom! Walking Distance To Toberman Park.

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Tax History for 1703 Toberman St

Assessed Value (2020): $577,320
Year Land Value Improved Value Assessed Value
2020 $404,124 $173,196 $577,320

Home Value Compared to the Market

This property vs the competition

1703 Toberman St is listed 2% higher than the median list price for the city of Los Angeles which has a median list price of $1,250,000. The median price per/sqft for Los Angeles is $773 and this home is listed at $467.03 per/sqft which puts the price per square foot 39.58% lower than the median price per square foot for the city of Los Angeles.

About 1703 Toberman St

Detailed summary of property

1703 Toberman St is a apartment located in Los Angeles, CA 90015 and is currently for sale. This apartment offers 1 bedrooms, 9 bathrooms, roughly 2,730 living square feet, and sits on an approximately 3,509 square foot lot. 1703 Toberman St was first listed on ArdentRealEstateGroup.com on December 5, 2023. The homeowner is currently asking $1,275,000 and was originally asking $1,300,000. The median priced home in Los Angeles is $1,250,000 with a median price per square foot of $773. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is listed 2% higher than the median priced home. Local competing homes currently for sale include 1822 Arapahoe St, 1256 W 22nd St and 1718 S New England St. While the average home in Los Angeles, CA is selling in 97 days, 1703 Toberman St has a days on market of 108 days. There are currently 3357 homes for sale in the Los Angeles real estate market and 2273 of them are single family homes while 993 of them are condos and 86 are townhomes. For more information on this home for sale at 1703 Toberman St Los Angeles, CA 90015 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 1703 Toberman St

Public county record property details
Beds
4
Baths
1
Year built
1899
Sq. Ft.
2,730
Lot Size
3,509
Stories
--
Type
Single Family Residential
Pool
No
Spa
No
County
Los Angeles
Lot#
10,D
APN
5135-025-017

The source for these homes facts are from public records.

90015 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$889,888
Median List Price/Sq.Ft.
$741
Median Sold Price
$620,000
Median Sold Price/Sq.Ft.
$663
Total Inventory
82
Median Sale to List Price %
95.38%
Avg Days on Market
57
Loan Type
Conventional (10%), FHA (0%), VA (0%), Cash (10%), Other (10%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.

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