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2200 Toberman St, Los Angeles, CA 90007
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2200 Toberman St Los Angeles, CA 90007

$2,000,000 Sold Price as of 03/24/2023
  • 6 Beds
  • 12 Baths
  • 7,026 Sq.Ft.
Sold
$2,000,000 Sold Price as of 03/24/2023 Refinance Your Mortgage
Map preview of 2200 Toberman St, Los Angeles, CA 90007

Property Overview: 2200 Toberman St Los Angeles, CA has 6 bedrooms, 12 bathrooms, 7,026 living square feet and 5,481 square feet lot size. Call an Ardent Real Estate Group agent with any questions you may have.

Agent Remarks: Toberman Apartments is a 12 unit complex in Los Angeles close to USC, 110 and 10 freeways as well as major employers in Downtown Los Angeles. The building was built in 1909 and is a two story walk-up with a secured entry and center hallway. The neighborhood is comprised of primarily single family residences built in the early 1900’s. There is an opportunity to convert the property to student housing and rent to USC students as the university less than 1 mile away. The building is master metered for gas and electric so the rents reflect the additional cost paid by the landlord in the operating expenses. When the City of Los Angeles RSO ( Rent Stabilization Board) resumes annual rent increases, the RSO also allows an additional 1% increase in monthly rent for gas utilities paid by a landlord, and an additional 1% increase in monthly rent for electric utilities paid by a landlord. There is a laundry room on site with an ongoing contract operated by WASH. The parking is on street only. This investment opportunity is attractively priced at 11.29 times gross and $191,667 per unit with future upside in rental income. The projected first year NOI is $126,043 after allowing for a $6,094 (3%) vacancy factor.

Listed by Stephen Lampe | BRE #01164364 | Re/Max Commercial & Investment
Last checked: 6 minutes ago | Last updated: March 24th, 2023 | Source CRMLS | DOM: 286

Home details

Lot Sq. Ft
5,481
HOA Dues
$0/mo
Year built
1909
Garage
--
Property Type:
Multi Family
Status
Sold
MLS#
SB22069017
City
Los Angeles
County
Los Angeles
Time on Site
771 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 12
  • Total # of Buildings: 1
  • # of Electric Meters: 1
  • # of Gas Meters: 1
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 2
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,523
  • Total Rent: $3,045
  • Pro Forma/Market Rent: $1,595
Unit Breakdown 2
  • # of Units: 2
  • # of Beds: 2
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,835
  • Total Rent: $3,670
  • Pro Forma/Market Rent: $1,875
Unit Breakdown 3
  • # of Units: 8
  • # of Beds: 0
  • # of Baths: 1
  • Garage Spaces: 0
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $1,277
  • Total Rent: $10,213
  • Pro Forma/Market Rent: $1,325
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 5.68%
  • Gross Rent Multiplier: 11.03
  • Gross Scheduled Income: $207,852
  • Net Operating Income: $130,621
  • Gross Operating Income: $202,216
  • Vacancy Allowance: $6,236
  • Laundry Income: $600
Annual Expense Breakdown
  • Total Operating Expense: $71,595
  • Electric: $4,099
  • Gas/Fuel: $2,928
  • New Taxes: $27,600
  • Trash: $4,099
  • Insurance: $2,664
  • Maintenance: $11,765
  • Professional Management: $9,777
  • Water/Sewer: $4,099

Property Details for 2200 Toberman St

Interior Features
Laundry Information
  • Has Laundry
  • Common Area
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • No
  • Parking Features: None
Lot Information
  • Lot Features: Lot 6500-9999, Rectangular Lot, Level
  • Lot Size Source: Assessor
  • Common Interest: None
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 12
  • Parcel Number: 5124014011
  • Year Built Source: Assessor
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Directions: 23rd St and Hoover
Neighborhood Information
  • Community Features: Curbs, Sidewalks
View more facts & features

Local Los Angeles Agent

Sale History for 2200 Toberman St

Last sold for $2,000,000 on March 24th, 2023

  • March, 2023

  • Mar 24, 2023

    Date

    Sold

    CRMLS: SB22069017

    $2,000,000

    Price

  • Apr 7, 2022

    Date

    Active

    CRMLS: SB22069017

    $2,700,000

    Price

  • April, 2022

  • Apr 7, 2022

    Date

    Canceled

    CRMLS: 21100177

    $2,695,000

    Price

  • Nov 2, 2021

    Date

    Active

    CRMLS: 21100177

    $3,500,000

    Price

  • Listing provided courtesy of CRMLS

    OWNER IN EXCHANGE MOTIVATED - PRICE REDUCED!!! Lee & Associates Investment Services Group is pleased to present an Outstanding Upside/Reposition opportunity to purchase a 12 Unit Student Housing Apartment Building located at 2200 Toberman Street, Los Angeles, CA 90007. This prime Value Add property consists of 12 spacious apartments comprised of 2 Two Bedroom/One Bath units, 2 One Bedroom/One Bath units and 8 Studio apartments. Currently, the property is operating as 12 separate units with 1 to 2 Beds per apartment. The Subject is equipped with modern appliances and features such as refrigerator, Stove Range Oven, located within the unit. A strength of the student housing market for the subject property is its proximity (less than a mile) to USC (University of Southern California), a prestigious private university with approximately 43,000 students. (Most students prefer to be as close to the university as possible.) The campus's boundaries are Jefferson Boulevard on the north and northeast, Figueroa Street on the east, Exposition Boulevard on the south, and Vermont Avenue on the west.

  • November, 2003

  • Nov 26, 2003

    Date

    Sold (Public Records)

    Public Records

    --

    Price

Show More

Tax History for 2200 Toberman St

Assessed Value (2020): $263,698
Year Land Value Improved Value Assessed Value
2020 $131,394 $132,304 $263,698

Home Value Compared to the Market

This property vs the competition

2200 Toberman St sold on March 24, 2023 for 93.28% higher than the current median sold price for the city of Los Angeles which is $1,190,000. The median sold price per/sqft for Los Angeles is $755 and this home is sold at $327.36 per/sqft which puts the price per square foot 56.64% lower than the current median sale per square foot for the city of Los Angeles.

About 2200 Toberman St

Detailed summary of property

2200 Toberman St is a multi family that recently sold in Los Angeles, CA 90007. This multi family property offered 6 bedrooms, 12 bathrooms, roughly 7,026 living square feet, and sits on an approximately 5,481 square foot lot. 2200 Toberman St was first listed on ArdentRealEstateGroup.com on April 7, 2022. The homeowner sold the property for $2,000,000. Home in Los Angeles are selling for a median price of $1,190,000 and a median price per square foot of $755. Based on Ardent Real Estate Group's Los Angeles Market Data, this home is sold 93.28% higher than the current median priced home. Local homes that are currently for sale include 3105 S Walton Ave, 1100 Magnolia Ave and 1041 Elden Ave. While the average home in Los Angeles, CA is selling in 94 days, 2200 Toberman St has a days on market of 286 days. There are currently 3654 homes for sale in the Los Angeles real estate market and 2456 of them are single family homes while 1102 of them are condos and 90 are townhomes. For more information on this home for sale at 2200 Toberman St Los Angeles, CA 90007 contact Ardent Real Estate Group and we will put you in touch with one of our Los Angeles agents.

Public Facts for 2200 Toberman St

Public county record property details
Beds
--
Baths
12
Year built
1909
Sq. Ft.
7,026
Lot Size
5,481
Stories
--
Type
Apartment House (5+ Units)
Pool
No
Spa
No
County
Los Angeles
Lot#
28
APN
5124-014-011

The source for these homes facts are from public records.

90007 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,199,999
Median List Price/Sq.Ft.
$616
Median Sold Price
$710,000
Median Sold Price/Sq.Ft.
$645
Total Inventory
13
Median Sale to List Price %
94.79%
Avg Days on Market
63
Loan Type
Conventional (0%), FHA (0%), VA (0%), Cash (0%), Other (0%)

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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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