A LA Multifamily success story in Toluca Lake
Toluca Lake Triplex Sold @ 107% of Listed Price
10651 Whipple St.
Toluca Lake triplex at 10651 Whipple St sold 107% of list in 6 days after generating 6 offers in a more selective multifamily market.
Offering Price
$1,060,000
City
Toluca Lake
Current CAP
3.09%
Price per unit
$353,333
Lot Size
7,005 SF
10651 whipple st
Offering Price
$1,060,000
Number of Units
3 Units
Bldg. Size
1,990 SF
Price per Foot
$533
Year Built
1941
Market CAP
4.89%
Zoning
LAR3
Background
10651 Whipple St is a 1941-built triplex configured in a courtyard-style layout with mature landscaping and separation between units. The design creates a residential feel that aligns with the surrounding single-family streets in Toluca Lake rather than a typical stacked multifamily layout.
At the time of sale, the property included one vacant unit, introducing flexibility for both owner-users and investors. The combination of layout, vacancy, and location placed the asset in a position where multiple buyer profiles could underwrite it differently.
The seller initially connected with our team several years prior while researching active multifamily brokers in Los Angeles. When the time came to transact, the priority was execution in a market where timing and pricing have become more important than exposure alone.
Challenge
In the current market, smaller multifamily assets often sit between two distinct buyer pools. Investors are focused on yield, long-term rent growth, and downside protection. Owner-users are evaluating the same deal through a different lens, balancing income with the ability to occupy a unit and control their cost of living.
10651 Whipple St had elements that appealed to both. FHA eligibility, a vacant unit, and a low-density layout all expanded the potential buyer pool. At the same time, that versatility required careful positioning.
The objective was not to overemphasize one narrative. It was to present the property as a clean, well-supported opportunity anchored by comparable sales and realistic underwriting assumptions.
Result
10651 Whipple St demonstrates how pricing discipline and clear positioning can drive strong outcomes even as market conditions shift. For owners considering a sale in Toluca Lake or surrounding submarkets, recent transactions like 10651 Whipple St provide a clearer picture of how buyers are underwriting deals today.
If you would like a submarket-specific read on recent multifamily sales, we are happy to share additional data.
