2200 Toberman Street

Los Angeles, CA 90007

$2,000,000
Last Sold Price
3
Beds
12
Baths
7,026 Sq. Ft.
$285 / Sq. Ft.
7,026
Sq. Ft.
$285
per Sq. Ft.

Description

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...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.
  1. Listed by Stephen Lampe • DRE #01164364 • Brokerage DRE #01508014 • Re/Max Commercial & Investment

Property Details for 2200 Toberman Street

Parking Spaces Total
0
Private Pool
No
Total Units
12.0
Building Type
Detached
Lot Size Source
Assessor
Living Area
7026
Assessor Parcel Number
5124-014-011
Property Attached YN
false

Location

Listing Courtesy of Re/Max Commercial & Investment, Stephen Lampe, DRE #01164364

Sold By NONMEMBER MRML, General NONMEMBER, DRE #01335696

Add your commute
LISTING UPDATED: 03/24/2023 09:01 AM

Property Details for 2200 Toberman Street

StatusClosed
MLS #SB22069017
Days on Market286
Taxes-
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeResidential Income
Year Built1909
Lot Size0.13 AC / 5,481 SF
CountyLos Angeles County

Location

Listing Courtesy of Re/Max Commercial & Investment, Stephen Lampe, DRE #01164364

Sold By NONMEMBER MRML, General NONMEMBER, DRE #01335696

Add your commute

Building Information for 2200 Toberman Street

Stories2Residences-Year Built1909Building Size-Lot Size0.13 AC / 5,481 SF

Payment Calculator

$11,296 per month

30 year fixed, 7.25% Interest

Principal and Interest

$10,915

Property Taxes

$381

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 2200 Toberman Street

Rental Info
Rental Info
  • Tenant Pays: Cable TV
Income / Expense / Tax Details
Income Details
  • Gross Income: $202,216
  • Gross Scheduled Income: $207,852
  • Vacancy Allowance: 6236
  • Gross Operating Income: $202,216
  • Net Operating Income: $130,621
  • Laundry Income: $600
  • Gross Multiplier: 11.03
  • Cap Rate: 5.68
  • Financing: Cash To Existing Loan
Expense Details
  • Operating Expense: $71,595
  • New Taxes Expense: $27,600
  • Fuel Expense: $2,928
  • Pest Control Expense: $1,022
  • Electric Expense: $4,099
  • Insurance Expense: $2,664
  • Maintenance Expense: $11,765
  • Professional Management Expense: $9,777
  • Trash Expense: $4,099
  • Water Sewer Expense: $4,099
  • Total Expenses: $71,595
Tax / Assessment Info
  • Tax Tract Number: 2244
  • Tax Census Tract: 2244.10
  • CFD/Mello-Roos Fee: $1,181
  • Tax Lot: 28
Community / Development
Community / Development
  • Community Features: Curbs, Sidewalks
Property / Structure Info
Interior Features
  • Laundry: Yes
  • Laundry Features: Common Area
Exterior Features
  • Pool Features: None
  • Pool Description: None
  • Pool: N/K
Land/Lot Info
  • Lot Features: Lot 6500-9999, Rectangular Lot, Level
  • Number Of Units: 12
  • Land Lease: No
  • Land Lease Type: Fee
  • Levels: Two
  • Water: Public
  • Sewer: Public Sewer
  • Water Source: Public
Parking Info
  • Garage Spaces: 0
  • Parking: No
  • Parking Garage: None
  • Parking Garage Spaces: 0
  • Carport Spaces: 0
  • Parking Features: None
Unit Information
Unit 1
  • Unit Type Units Total: 8
  • Unit Type Beds Total: 0
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,277
  • Unit Type Total Rent: $10,213
  • Unit Type Pro Forma: 1325
  • Unit Type Type: 1
Unit 2
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 1
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,523
  • Unit Type Total Rent: $3,045
  • Unit Type Pro Forma: 1595
  • Unit Type Type: 2
Unit 3
  • Unit Type Units Total: 2
  • Unit Type Beds Total: 2
  • Unit Type Baths Total: 1
  • Unit Type Furnished: Unfurnished
  • Unit Type Garage Spaces: 0
  • Unit Type Actual Rent: $1,835
  • Unit Type Total Rent: $3,670
  • Unit Type Pro Forma: 1875
  • Unit Type Type: 3
Unit Information
  • Rent Controlled: Yes
  • Number Of Buildings: 1
  • Number Of Separate Electric Meters: 1
  • Number Of Separate Gas Meters: 1
  • Number Of Separate Water Meters: 1

Property History for 2200 Toberman Street

DateEvent & SourcePriceAppreciation
DateEvent & SourcePrice

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 2200 Toberman Street

Taxable ValueLand$138,118Additions$139,028Total$277,146
Tax Record2023$4,567 ($381 / month)
Home Facts
Total Finished SqFt7,026 SqFtAbove Grade Finished SqFt7,026 SqFtLot Size5,481 SqFtStyleMulti-Family Res (5+ Units)Year Built1909ZoningLARD1.5CountyLOS ANGELESAPN5124-014-011

Schools near 2200 Toberman Street

This home is within Los Angeles Unified School District.
Rating
School
Type
Grades
Distance
Public - K to 5
Public - 6 to 8
Public - 9 to 12
Charter - 6 to 12
Rating
School
Distance
Norwood Street Elementary School
PublicK to 5

John Adams Middle School
Public6 to 8

West Adams Preparatory High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

Similar Homes

Sorry, we can't find any similar homes at this time. Please check back later.

Similar Sold Homes

Sorry, we can't find any similar sold homes at this time. Please check back later.

No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of Re/Max Commercial & Investment, Stephen Lampe, DRE #01164364

Based on information from one of the following Multiple Listing Services: CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS. Information being provided is for the visitor’s personal, noncommercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. The data contained herein is copyrighted by CRMLS, CLAW, I-Tech, ROWMLS, GPSMLS, SDMLS, VCRDS/PFAR, Idyllwild Association of Realtors, Ojai Valley Board of REALTORS and/or AVMLS is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited. Property information referenced on this web site comes from the Internet Data Exchange (IDX) program of the MLS. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. For the avoidance of doubt, the accuracy of all information, regardless of source, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.