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Toberman House – 1899 Victorian, DTLA 1703 Toberman St 5 Unit Apartment Building $1,100,000 ($220,000/Unit) 8.08% Cap Rate Los Angeles, CA 90015
Investment Highlights
- Renovated 1899 Victorian — turn-key 2022 renovation
- 8.08% in-place cap on $88,833 NOI
- Blocks from South Park, LA Live and the DTLA core
- 5 legal units operated as 6 legal income keys
- Contracted 1-BR lease-up + below-market studios
Executive Summary
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.
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.
Property Facts
| Price | $1,100,000 | Building Class | C |
| Price Per Unit | $220,000 | Lot Size | 0.08 AC |
| Sale Type | Investment | Building Size | 2,934 SF |
| Cap Rate | 8.08% | Average Occupancy | 83% |
| Gross Rent Multiplier | 8.51 | No. Stories | 2 |
| No. Units | 5 | Year Built/Renovated | 1899/2022 |
| Property Type | Multifamily | Parking Ratio | 0.68/1,000 SF |
| Property Subtype | Apartment | Opportunity Zone |
Yes
|
| Apartment Style | Low-Rise | ||
| Zoning | LARD1.5 - restricted Density Multiple Dwelling | ||
| Price | $1,100,000 |
| Price Per Unit | $220,000 |
| Sale Type | Investment |
| Cap Rate | 8.08% |
| Gross Rent Multiplier | 8.51 |
| No. Units | 5 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.08 AC |
| Building Size | 2,934 SF |
| Average Occupancy | 83% |
| No. Stories | 2 |
| Year Built/Renovated | 1899/2022 |
| Parking Ratio | 0.68/1,000 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 | 3 | - | - |
| 1+1 | 1 | - | - |
| 2+1 | 1 | - | - |
1 1
Very walkable
80/100
Moderately drivable
70/100
Exceptional public transit
90/100
Somewhat bikeable
30/100
Property Taxes
| Parcel Number | 5135-025-017 | Improvements Assessment | $253,084 |
| Land Assessment | $441,967 | Total Assessment | $695,051 |
Property Taxes
Parcel Number
5135-025-017
Land Assessment
$441,967
Improvements Assessment
$253,084
Total Assessment
$695,051
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Toberman House – 1899 Victorian, DTLA | 1703 Toberman St