1715 Toberman St · Los Angeles, CA 90015

$525,000

2 bd · 1.0 ba · 2,215 sqft · MultiFamily · 8 Days on market

4,672 sqft lot $237/sqft · at area comps

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Why this score? — see what drove the B grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• 1% rule +10.0/10.0
• DSCR +10.0/10.0
• ARV discount +7.5/15.0
• Schools +3.6/10.0
• Livability +3.4/5.0
• Rent growth +2.5/5.0
• Condition / age +2.5/5.0
• Appreciation +2.1/10.0

Multi-family units

County records classify this as Multi-Family (2-4 Unit). Listing-text estimate: 1 unit. estimate disagrees with records

Listing remarks MLS

1711-1715 Toberman Street is a rare value-add multifamily opportunity consisting of 12 units across two adjacent LARD1.5-zoned parcels totaling 9,344 square feet in South Los Angeles. The property is improved with four separate buildings and includes a diverse mix of SRO and single units, plus a rear studio ADU that is approximately 45% complete. Located in a strong Downtown Los Angeles-adjacent rental corridor, the asset offers investors immediate upside through management and rent optimization, with current rents estimated to be roughly 30% below market. Major systems have been updated, reducing near-term capital needs, while the adjacent lot configuration and favorable zoning provide future flexibility for additional improvements or future development. Toberman offers a compelling combination of in-place cash flow, rental upside, ADU income potential, and long-term land value in a centrally located Los Angeles submarket. The large side-by-side lots create a strategic advantage rarely found at this price point. An investor can benefit from both near-term income growth and longer-term expansion potential. The location near employment, entertainment, transit, and civic hubs further supports tenant demand and long-term appreciation.

Key facts

• Six rental units
• Craftsman style
• Main house

Tags

• CRAFTSMAN STYLE
• SIX RENTAL UNITS
• DETACHED ONE BEDROOM UNIT
• MAIN HOUSE
• UPSTAIRS STUDIO UNITS
• DOWNSTAIRS STUDIO UNITS

🏷️ Possibly a rental listed for sale. The $525,000 price doesn't fit this home's estimated sale value (~$1,111,286) and the remarks read like a rental — treat the cards below with caution.

What this means for you Summary

Snapshot

• This is a 2-bed/1.0-bath multifamily listed at $525k.

Deal economics

• At list price, monthly cash flow is $12k ($143k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($20k rent vs $525k).
• Cap rate 33.6% vs local median 2.1% in Los Angeles — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 68/100 on livability (#273 in CA) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, employment B; Watch: health & safety C-, schools D+, crime F.
• Los Angeles Unified (urban): math 29% / reading 54% proficiency, ranked #223 of 517 in CA (top 43%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 67% free/reduced lunch — lower-income household profile, screen leases tightly.
• Market conditions: Rents flat; 116 active listings in the ZIP; 40 comparable units currently listed for rent nearby; rentals at typical pace (median 16d on market — plan ~3-4 weeks tenant-placement turnaround); 19,697 units permitted in Los Angeles County in 2024 (9,426 in 5+ unit buildings).
• At $19,690/mo this rent would consume 341% of the median local household income ($69k/yr) (locally 3433% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $4k of loan paydown is wiped out by about $16k of value loss. Plan a longer hold.
• Los Angeles County population projected at +9% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• At projected returns (-3.0% appreciation + 0.1% rent growth), your $147k cash investment doubles in ~2 years — after that, you're playing with house money.

Negotiation context

• Only 8 days on market — expect competitive offers; lowballing is unlikely to land.
• 8 sale attempts since 21y ago; this cycle's ask has dropped $763k (59%) from the opening price — seller is motivated, your offer sets the floor, not the list.

Risks & watch-outs

• Climate carrying-cost: extreme-heat days projected 7→22/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $525,000

Questions for the listing agent

1. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
2. Schools are D-rated, which usually means shorter tenancies and higher turnover. Who's the typical renter profile here, and what's been the actual vacancy rate?
3. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
4. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
5. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
6. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 3.75% ✓
• Cap rate: 33.55%
• Cash-on-cash: 97.36%
• DSCR: 5.33
• GRM: 2.2

CMA / ARV

• ARV (median comp): $1,111,286
• List price: $525,000
• Delta: -1.02%
• Verdict: FAIR
• Comps: 20 within 1.0 mi

Projected returns pro-forma

-3.0% appreciation · 0.06% rent growth · sell at horizon

5-year hold

• IRR: 95.0%
• Equity multiple: 5.21×
• Total profit: $618,275
• Equity at exit: $78,279

10-year hold

• IRR: 97.2%
• Equity multiple: 9.84×
• Total profit: $1,298,809
• Equity at exit: $45,392

Cash invested: $147,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (CITY): 0 Strongly Tenant-Friendly
• State California: 18 Strongly Tenant-Friendly · D+13
• County: — inherits STATE
• City Los Angeles: 0 Strongly Tenant-Friendly · D+22

LARSO + JCEO 2023; relocation for substantial remodel evictions.

Methodology + full state rankings →

ZIP-level market 90015

• Home prices YoY: -2.0%
• Rents YoY: 0.1%
• Active inventory: 116
• Price-to-rent: 26.7×

Monthly cashflow live

• Estimated rent: $19,690 high
• Mortgage (P&I): −$2,753
• Tax est. 1.5%: −$656 /mo · $7,875/yr
• Insurance: −$219
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,135
• Net cashflow: $11,927

Break-even live

Break-even rent $4,593

Max offer price $525,000

Occupancy floor 34%

Sensitivity live

Price	-10% $12,290	-5% $12,108	+0% $11,927	+5% $11,746	+10% $11,564
Rent	-10% $10,371	-5% $11,149	+0% $11,927	+5% $12,705	+10% $13,482
Rate	-1.0pp $12,191	-0.5pp $12,060	base $11,927	+0.5pp $11,791	+1.0pp $11,653

12-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 12× units	1	1	$19,692
Total (12 units)			$19,690

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $131,250
• Closing costs: $15,750
• Reserves months: —
• Total cash needed: —

Rent comps 40 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
1408 S Burlington Ave Los Angeles, CA	3.0	2.0	1800	$3,200	$1.78	44d	1	0.32mi
922 W 23rd St Unit 101 Los Angeles, CA	3.0	2.0	1723	$2,990	$1.74	8d	1	0.38mi
2601 S Hoover St Los Angeles, CA	8.0	1.0–8.0	1477	$4,525	$3.06	1d	1	0.60mi
1724 Menlo Ave Unit 1/2 Los Angeles, CA	3.0	3.5	1450	$3,758	$2.59	24d	1	0.69mi
1200 S Figueroa St Los Angeles, CA	1.0–3.0	1.0–4.0	2305	$12,878	$5.59	1d	32	0.74mi
2652 Ellendale Pl Los Angeles, CA	2.0–5.0	2.0–3.0	1200	$850	$0.71	44d	1	0.76mi
2640 Menlo Ave Los Angeles, CA	2.0–9.0	2.0–7.5	2185	$3,000	$1.37	1d	2	0.82mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2625	$15,000	$5.71	25d	7	0.83mi
900 W Olympic Blvd Los Angeles, CA	1.0–3.0	2.0–4.0	2620	$14,950	$5.71	5d	9	0.83mi
900 W Olympic Blvd Los Angeles, CA	1.0–2.0	1.5–3.0	1460	$9,800	$6.71	44d	7	0.83mi
1623 S New Hampshire Ave Unit 1/2 Los Angeles, CA	3.0	4.0	1565	$3,290	$2.10	44d	1	0.84mi
1133 S Hope St Los Angeles, CA	4.0	1.0–3.0	1287	$5,028	$3.91	2d	17	0.87mi
1155 S Grand Ave #817 Los Angeles, CA	1.0	2.0	1400	$3,990	$2.85	44d	1	0.92mi
1100 S Hope St #1714 Los Angeles, CA	2.0	3.0	2000	$9,750	$4.88	25d	1	0.92mi
1100 S Hope St Ph 205 Los Angeles, CA	2.0	3.0	1920	$7,500	$3.91	44d	1	0.93mi
1111 S Grand Ave #701 Los Angeles, CA	2.0	2.0	2100	$6,250	$2.98	44d	1	0.95mi
1120 S Grand Ave Los Angeles, CA	2.0	1.0–2.5	1335	$11,364	$8.51	1d	50	0.96mi
717 W Olympic Blvd Los Angeles, CA	1.0–2.0	1.0–2.5	1760	$8,335	$4.73	11d	15	0.99mi
330 W 11th St Los Angeles, CA	2.0	1.5–2.0	1470	$4,050	$2.75	15d	2	1.00mi
330 W 11th St Apt 306 Los Angeles, CA	2.0	2.0	1621	$4,600	$2.84	25d	1	1.00mi
1100 S Grand Ave Unit A205 Los Angeles, CA	2.0	2.0	1560	$4,650	$2.98	44d	1	1.00mi
991 Arapahoe St Unit 402A Los Angeles, CA	3.0	3.0	1700	$3,880	$2.28	25d	1	1.03mi
889 Francisco St #1806 Los Angeles, CA	2.0	3.0	1400	$5,800	$4.14	25d	1	1.03mi
889 Francisco St #3406 Los Angeles, CA	2.0	2.5	1720	$5,500	$3.20	12d	1	1.03mi
889 Francisco St #3406 Los Angeles, CA	2.0	3.0	1700	$5,900	$3.47	19d	1	1.03mi
889 Francisco St Los Angeles, CA	2.0	2.5	1720	$5,900	$3.43	25d	1	1.03mi
900 S Figueroa St Los Angeles, CA	2.0	1.0–2.5	1371	$7,658	$5.58	2d	63	1.04mi
901 S Flower St Los Angeles, CA	1.0–2.0	1.0–2.0	1230	$4,200	$3.41	4d	4	1.06mi
600 W 9th St Los Angeles, CA	1.0–2.0	1.0–2.0	1187	$6,500	$5.47	45d	6	1.11mi
705 W 9th St Los Angeles, CA	1.0–2.0	1.0–2.0	1204	$5,812	$4.83	2d	21	1.12mi
1000 W 8th St Los Angeles, CA	4.0	1.0–2.5	1991	$14,150	$7.11	1d	22	1.13mi
725 S Bixel St Los Angeles, CA	3.0	1.0–2.5	1360	$3,086	$2.27	5d	24	1.16mi
409 W Olympic Blvd Los Angeles, CA	2.0	1.0–1.5	1117	$5,000	$4.47	25d	1	1.16mi
888 S Hope St Los Angeles, CA	2.0	1.0–2.0	1014	$6,929	$6.83	1d	64	1.18mi
230 W Olympic Blvd Los Angeles, CA	1.0–5.0	1.0–6.0	2538	$9,374	$3.69	1d	30	1.19mi
960 W 7th St Los Angeles, CA	3.0	1.0–2.5	1124	$6,828	$6.07	3d	45	1.22mi
801 S Hope St Los Angeles, CA	1.0–3.0	1.0–3.0	1202	$3,843	$3.20	4d	27	1.23mi
982 S New Hampshire Ave Los Angeles, CA	3.0	2.0	1500	$3,150	$2.10	8d	1	1.25mi
801 S Grand Ave Los Angeles, CA	2.0–3.0	2.0–3.0	1660	$3,900	$2.35	44d	4	1.26mi
801 S Grand Ave Los Angeles, CA	2.0	2.0	1372	$3,925	$2.86	1d	2	1.26mi

Listing history 31 events

1. 2026-06-18
   days on market $525,000 Active 8 DOM
2. 2026-06-17
   days on market $525,000 Active 7 DOM
3. 2026-06-16
   days on market $525,000 Active 6 DOM
4. 2026-06-15
   days on market $525,000 Active 5 DOM
5. 2026-06-13
   pricedays on marketlisting id $525,000 Active 3 DOM
6. 2026-06-04
   days on market $1,100,000 Active 76 DOM
7. 2026-06-03
   days on market $1,100,000 Active 75 DOM
8. 2026-06-02
   days on market $1,100,000 Active 74 DOM
9. 2026-06-01
   days on market $1,100,000 Active 73 DOM
10. 2026-05-31
    days on market $1,100,000 Active 72 DOM
11. 2026-04-29
    price $1,100,000 1251-char remark

    Show marketing remark (1251 chars)

    1711-1715 Toberman Street is a rare value-add multifamily opportunity consisting of 12 units across two adjacent LARD1.5-zoned parcels totaling 9,344 square feet in South Los Angeles. The property is improved with four separate buildings and includes a diverse mix of SRO and single units, plus a rear studio ADU that is approximately 45% complete. Located in a strong Downtown Los Angeles-adjacent rental corridor, the asset offers investors immediate upside through management and rent optimization, with current rents estimated to be roughly 30% below market. Major systems have been updated, reducing near-term capital needs, while the adjacent lot configuration and favorable zoning provide future flexibility for additional improvements or future development. Toberman offers a compelling combination of in-place cash flow, rental upside, ADU income potential, and long-term land value in a centrally located Los Angeles submarket. The large side-by-side lots create a strategic advantage rarely found at this price point. An investor can benefit from both near-term income growth and longer-term expansion potential. The location near employment, entertainment, transit, and civic hubs further supports tenant demand and long-term appreciation.

12. 2026-04-06
    price $1,200,000 1251-char remark

    Show marketing remark (1251 chars)

    1711-1715 Toberman Street is a rare value-add multifamily opportunity consisting of 12 units across two adjacent LARD1.5-zoned parcels totaling 9,344 square feet in South Los Angeles. The property is improved with four separate buildings and includes a diverse mix of SRO and single units, plus a rear studio ADU that is approximately 45% complete. Located in a strong Downtown Los Angeles-adjacent rental corridor, the asset offers investors immediate upside through management and rent optimization, with current rents estimated to be roughly 30% below market. Major systems have been updated, reducing near-term capital needs, while the adjacent lot configuration and favorable zoning provide future flexibility for additional improvements or future development. Toberman offers a compelling combination of in-place cash flow, rental upside, ADU income potential, and long-term land value in a centrally located Los Angeles submarket. The large side-by-side lots create a strategic advantage rarely found at this price point. An investor can benefit from both near-term income growth and longer-term expansion potential. The location near employment, entertainment, transit, and civic hubs further supports tenant demand and long-term appreciation.

13. 2026-03-20
    listed $1,288,000 Active 1251-char remark

    Show marketing remark (1251 chars)

    1711-1715 Toberman Street is a rare value-add multifamily opportunity consisting of 12 units across two adjacent LARD1.5-zoned parcels totaling 9,344 square feet in South Los Angeles. The property is improved with four separate buildings and includes a diverse mix of SRO and single units, plus a rear studio ADU that is approximately 45% complete. Located in a strong Downtown Los Angeles-adjacent rental corridor, the asset offers investors immediate upside through management and rent optimization, with current rents estimated to be roughly 30% below market. Major systems have been updated, reducing near-term capital needs, while the adjacent lot configuration and favorable zoning provide future flexibility for additional improvements or future development. Toberman offers a compelling combination of in-place cash flow, rental upside, ADU income potential, and long-term land value in a centrally located Los Angeles submarket. The large side-by-side lots create a strategic advantage rarely found at this price point. An investor can benefit from both near-term income growth and longer-term expansion potential. The location near employment, entertainment, transit, and civic hubs further supports tenant demand and long-term appreciation.

14. 2026-01-18
    historical
15. 2025-10-31
    listed $790,000 Active
16. 2025-10-15
    historical
17. 2025-07-07
    listed $799,000 Active
18. 2025-06-27
    historical
19. 2025-06-01
    historical
20. 2025-04-09
    listed $888,000 Active
21. 2025-03-28
    historical
22. 2025-02-11
    listed $888,000 Active
23. 2025-02-11
    historical
24. 2025-01-21
    price $988,000
25. 2025-01-03
    price $1,088,000
26. 2024-11-22
    price $1,298,000
27. 2024-10-09
    listed $1,398,000 Active
28. 2006-04-01
    historical
29. 2006-03-31
    historical
30. 2005-09-12
    listed
31. 2005-09-01
    listed $799,000

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Climate risk First Street

• 🌊 Flood 1/10 Low FEMA zone X (shaded) · 0% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 6/10 Major 7 d/yr ≥90°F today · 22 d/yr by 30 yrs out
• 💨 Wind 1/10 Low
• 🫁 Air quality 5/10 Major 7 unhealthy d/yr today · 7 by 30 yrs out

Taxation est. · year 1

• Rental income: $236,280
• − Mortgage interest: −$29,408
• − Property taxes: −$7,875
• − Insurance: −$2,625
• − Repairs & maintenance: −$18,902
• − Management: −$18,902
• − Depreciation: −$15,273
• Taxable income: $143,294
• Est. tax owed @ 24.0%: −$34,391
• After-tax cash flow: $108,733/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Schools (NCES district)

• District: Los Angeles Unified
• NCES district ID: 0622710
• Math proficiency: 29% ▼ -4.00%
• Reading proficiency: 54% ▲ 10.00%
• Median HH income: $50,403
• Composite: 35.67/100
• National rank: #4875
• State rank: #223 of 517 in CA

Livability — Los Angeles

• Score: 68/100
• State rank: #273
• US rank: #9237

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment B Housing B- Health & safety C- User ratings C-

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Los Angeles, CA
• County: Los Angeles County · 9,444,647 people
• City population: 3,838,149
• Metro: Los Angeles-Long Beach-Anaheim, CA
• Population (ZIP): 24,704
• Household income: $69,268
• Rent vs Own: 88.6% rent · 11.4% own
• Severe rent burden: 3433.0

Population outlook (Los Angeles County) Hauer SSP2

• Today (2025): 10,940,515 people
• By 2030: 11,256,481 · +2.9%
• By 2040: 11,729,929 · +7.2%
• By 2050: 11,948,407 · +9.2%
• By 2075: 11,818,114 · +8.0%
• By 2100: 10,842,928 · -0.9%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 45% Asian 24% White 16% Two or more races 12% Black 9% Native American 4%
• Hispanic origin (detail): Mexican 27%
• Common ancestry: Iranian 2% Scotch-Irish 1% Italian 1%
• Foreign-born: 44% · Canada, China, South Korea
• Languages at home: 34% English-only · Spanish 40% Chinese 10% Korean 8%

Political lean MEDSL · Los Angeles

• 2024 margin: Solid D (+32.9) · D 64.8% · R 31.9% · Other 3.3%
• 2008→2024 swing: -7.4pp toward R · 2008: 40.4pp · 2024: 32.9pp
• All cycles: 2024: D+32.9 2020: D+44.2 2016: D+48.0 2012: D+40.0 2008: D+40.4

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -5.78%
• Current HPI: 283.6213
• Rent YoY: ▲ 0.06%
• Metro: Los Angeles-Long Beach-Anaheim, CA
• State GDP YoY: ▲ 3.21%
• F500 in state: 116

Industry mix (Fortune 500 HQ in CA)

Industry	F500 HQs	Revenue
▸Technology	27	$1,492B
▸Financial Services	3	$174B
▸Retail	3	$44B
▸Insurance	3	$26B
▸Media / Entertainment	2	$115B
▸Pharmaceuticals / Biotech	2	$62B

Price history

+37.7% since first listed

21 events — show timeline

• 2026-04-29 Price Changed $1,100,000 TheMLS
• 2026-04-06 Price Changed $1,200,000 TheMLS
• 2026-03-20 Listed $1,288,000 TheMLS
• 2026-01-18 Listing Removed — CRMLS
• 2025-10-31 Listed $790,000 CRMLS
• 2025-10-15 Listing Removed — CRMLS
• 2025-07-07 Listed $799,000 CRMLS
• 2025-06-27 Coming Soon — CRMLS
• 2025-06-01 Listing Removed — CRMLS
• 2025-04-09 Listed $888,000 CRMLS
• 2025-03-28 Listing Removed — CRMLS
• 2025-02-11 Listing Removed — CRMLS
• 2025-02-11 Listed $888,000 CRMLS
• 2025-01-21 Price Changed $988,000 CRMLS
• 2025-01-03 Price Changed $1,088,000 CRMLS
• 2024-11-22 Price Changed $1,298,000 CRMLS
• 2024-10-09 Listed $1,398,000 CRMLS
• 2006-04-01 Delisted — TheMLS
• 2006-03-31 Listing Removed — CRMLS
• 2005-09-12 Listed — TheMLS
• 2005-09-01 Listed $799,000 CRMLS