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Multifamily

1406 Toberman St

1406 Toberman St, Los Angeles, CA 90015

Listing Price: $1,990,000

Cap Rate
2.54%
Number of Units
8
Occupancy
100.0%
Price/Unit
$248,750
Price/Gross SF
$444.99
Gross SF
4,472

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an 8-unit apartment building in the Pico-Union neighborhood of Los Angeles, California. Built in 1954, 1406 Toberman Street sits on a 5,870 square foot lot with 4,472 square feet of rentable space and is comprised of one (1) Single unit, six (6) 1 Bedroom/1 Bathroom units, & one (1) 2 Bedroom/1 Bathroom unit. The property features on-site parking (repaved in 2021), a new roof (installed in 2020), and a laundry room with hookups (currently inactive). The complex is fully occupied and all rent is paid on time. This is a value-add opportunity with ~39% potential upside in gross rents. 1406 Toberman Street is situated North of Venice Boulevard and just East of South Union Ave. The property provides easy access to the 10 and 110 Freeways and is within a mile of Downtown and all of the local employers and attractions including the LA Convention Center, The Staples Center, The Grammy Museum LA Live, the Microsoft Theater, Loyola Law School, and more.

Investment Highlights

  • New Roof Installed in 2020
  • Parking Lot Repaved in 2021
  • On-Site Laundry Room
  • 100% Occupied
  • Value-Add Opportunity

Exclusively Listed By

Listing Price: $1,990,000

Cap Rate
2.54%
Number of Units
8
Occupancy
100.0%
Price/Unit
$248,750
Price/Gross SF
$444.99
Gross SF
4,472

Investment Highlights

  • New Roof Installed in 2020
  • Parking Lot Repaved in 2021
  • On-Site Laundry Room
  • 100% Occupied
  • Value-Add Opportunity

Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire an 8-unit apartment building in the Pico-Union neighborhood of Los Angeles, California. Built in 1954, 1406 Toberman Street sits on a 5,870 square foot lot with 4,472 square feet of rentable space and is comprised of one (1) Single unit, six (6) 1 Bedroom/1 Bathroom units, & one (1) 2 Bedroom/1 Bathroom unit. The property features on-site parking (repaved in 2021), a new roof (installed in 2020), and a laundry room with hookups (currently inactive). The complex is fully occupied and all rent is paid on time. This is a value-add opportunity with ~39% potential upside in gross rents. 1406 Toberman Street is situated North of Venice Boulevard and just East of South Union Ave. The property provides easy access to the 10 and 110 Freeways and is within a mile of Downtown and all of the local employers and attractions including the LA Convention Center, The Staples Center, The Grammy Museum LA Live, the Microsoft Theater, Loyola Law School, and more.

Exclusively Listed By

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