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1703 Toberman St 5 Unit Apartment Building $1,050,000 ($210,000/Unit) 8% Cap Rate Los Angeles, CA 90015
INVESTMENT HIGHLIGHTS
- A renovated 5-Unit building with turnkey and remodeled units for new ownership to generate high cashflow on day one.
- Corner lot in a Pico-Union within a short drive to Downtown LA.
- New roof, plumbing, and electrical resulting in low maintenance for new owners.
- A 8% CAP Rate and 7.76 GRM on actual income.
- New systems completed with permits.
EXECUTIVE SUMMARY
This renovated 5-unit building offers a turnkey investment opportunity with fully remodeled units, allowing new ownership to generate strong cash flow from day one. With a 8% CAP Rate and a 7.7 GRM based on actual income, this property delivers both stability and performance. Situated on a prominent corner lot in Pico-Union, it provides excellent accessibility and is just a short drive to Downtown Los Angeles, making it highly attractive for tenants seeking convenience and urban living.
The property has undergone extensive upgrades with all new systems completed under permits, ensuring long-term value and peace of mind. Major improvements include a new roof, updated plumbing, and modernized electrical systems, significantly reducing future maintenance costs for new owners. This combination of prime location, strong financials, and low upkeep makes it a standout investment opportunity in one of LA’s most in-demand rental markets.
The property has undergone extensive upgrades with all new systems completed under permits, ensuring long-term value and peace of mind. Major improvements include a new roof, updated plumbing, and modernized electrical systems, significantly reducing future maintenance costs for new owners. This combination of prime location, strong financials, and low upkeep makes it a standout investment opportunity in one of LA’s most in-demand rental markets.
FINANCIAL SUMMARY (ACTUAL - 2024) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$135,396
|
$49.60
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$4,062
|
$1.49
|
| Effective Gross Income |
$131,334
|
$48.11
|
| Taxes |
$33,429
|
$12.25
|
| Operating Expenses |
$14,203
|
$5.20
|
| Total Expenses |
$47,632
|
$17.45
|
| Net Operating Income |
$83,702
|
$30.66
|
FINANCIAL SUMMARY (ACTUAL - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $135,396 |
| Annual Per SF | $49.60 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $4,062 |
| Annual Per SF | $1.49 |
| Effective Gross Income | |
|---|---|
| Annual | $131,334 |
| Annual Per SF | $48.11 |
| Taxes | |
|---|---|
| Annual | $33,429 |
| Annual Per SF | $12.25 |
| Operating Expenses | |
|---|---|
| Annual | $14,203 |
| Annual Per SF | $5.20 |
| Total Expenses | |
|---|---|
| Annual | $47,632 |
| Annual Per SF | $17.45 |
| Net Operating Income | |
|---|---|
| Annual | $83,702 |
| Annual Per SF | $30.66 |
PROPERTY FACTS
| Price | $1,050,000 | Building Class | C |
| Price Per Unit | $210,000 | Lot Size | 0.08 AC |
| Sale Type | Investment | Building Size | 2,730 SF |
| Cap Rate | 8% | Average Occupancy | 95% |
| Gross Rent Multiplier | 7.7 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1899/2022 |
| Property Type | Multifamily | Parking Ratio | 0.73/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Mid-Rise | ||
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $1,050,000 |
| Price Per Unit | $210,000 |
| Sale Type | Investment |
| Cap Rate | 8% |
| Gross Rent Multiplier | 7.7 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Mid-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 2,730 SF |
| Average Occupancy | 95% |
| No. Stories | 2 |
| Year Built/Renovated | 1899/2022 |
| Parking Ratio | 0.73/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | LARD1.5 - restricted Density Multiple Dwelling |
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Granite Countertops
- High Speed Internet Access
- Vinyl Flooring
SITE AMENITIES
- Fenced Lot
- Vintage Building
- Community-Wide WiFi
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 5 | $1,866 | - |
1 1
Walk Score®
Very Walkable (87)
Transit Score®
Excellent Transit (82)
Bike Score®
Very Bikeable (81)
PROPERTY TAXES
| Parcel Number | 5135-025-017 | Total Assessment | $695,051 (2025) |
| Land Assessment | $441,967 (2025) | Annual Taxes | $33,429 ($12.25/SF) |
| Improvements Assessment | $253,084 (2025) | Tax Year | 2024 |
PROPERTY TAXES
Parcel Number
5135-025-017
Land Assessment
$441,967 (2025)
Improvements Assessment
$253,084 (2025)
Total Assessment
$695,051 (2025)
Annual Taxes
$33,429 ($12.25/SF)
Tax Year
2024
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1703 Toberman St
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