10651 Whipple Street is an FHA-eligible Toluca Lake multifamily triplex offering an owner-user opportunity in one of the San Fernando Valley’s most established residential neighborhoods. The property includes (3) 1-bed units, with 1 unit delivered vacant at close of escrow, allowing a buyer to occupy the property while generating supplemental rental income. This structure, combined with the accessible price point and favorable financing eligibility, positions 10651 Whipple Street as a compelling entry into Toluca Lake multifamily ownership.

Unlike conventional 1960s walk-up apartment product or newer uniform developments, 10651 Whipple Street features a courtyard-style layout that emphasizes privacy, character, and a distinctly residential feel. Mature trees, landscaped walkways, and a modest scale create an environment that blends seamlessly into the surrounding single-family neighborhood, a key differentiator for long-term tenancy and owner-user appeal.

Unit Configuration and Site Layout

The Toluca Lake multifamily property consists of three one-bedroom units averaging approximately 663 SF each, situated on a 7,005 SF lot. The layout is efficiently designed while maintaining separation between units, enhancing privacy for residents. At the rear of the property is a detached garage structure with three individual one-car garages, along with additional surface parking.

The garage configuration presents potential for ADU conversion, subject to buyer verification of zoning, setbacks, and feasibility. For Toluca Lake multifamily investors, this represents a potential path to incremental density and long-term value creation while maintaining the property’s low-density residential character.

Owner-User Opportunity & FHA Financing Eligibility

One of the most attractive aspects of 10651 Whipple Street is the vacant one-bedroom unit delivered at close of escrow. This vacancy provides immediate flexibility for an owner-user seeking to live on-site while collecting rental income from the remaining units. The property’s FHA eligibility further expands the buyer pool by offering access to lower down payment financing options, subject to lender verification.

For buyers seeking a manageable Toluca Lake multifamily asset with owner-user flexibility, the combination of a vacant unit and favorable financing eligibility is increasingly difficult to find in this submarket.

Location and Rental Demand in Toluca Lake

10651 Whipple Street is located in the heart of Toluca Lake, a neighborhood known for its tree-lined streets, strong community identity, and proximity to major employment centers. The property sits just minutes from Riverside Dr and Ventura Blvd, providing convenient access to well-known neighborhood destinations including The Front Yard, Hungry Crowd, Forman’s Tavern, and Trader Joe’s.

The location also benefits from close proximity to major studio employers such as Warner Bros., Disney, and Universal. This concentration of entertainment and creative employment continues to support consistent rental demand from professionals seeking housing in established Valley neighborhoods with easy access to work, dining, and recreation. Nearby amenities include Lakeside Golf Club and the residential streets that have long defined Toluca Lake’s appeal.

Conclusion

10651 Whipple Street represents a rare Toluca Lake multifamily opportunity combining owner-user flexibility, FHA eligibility, courtyard-style design, and long-term rental appeal in a supply-constrained neighborhood. The vacant unit, garage parking, potential ADU upside, and pride-of-ownership character position the property as an attractive option for buyers seeking a manageable triplex in one of the San Fernando Valley’s most established residential enclaves.