New Multifamily Property in
For Sale
$7,500,000
10652 Whipple Street, North Hollywood, CA 91602
New 14-unit multifamily property in North Hollywood's Toluca Lake.
Property Size13,719 SF
Price / SF$546.69
Days on Market151
Property Features for 10652 Whipple Street
General Information
Standard status
Active
Size
13,719 SF
Property subtype
Commercial
Building Details
Year Built
2025
Listing Agency:
JOHNHART REAL ESTATE
(818) 246-1099
Listed By:
RAFFI SOUALIAN · License #01887303
Source:
Corcoran
Added: Mar 13
Changed: Jul 6
Last Checked: Aug 10 at 3:38AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of JOHNHART REAL ESTATE
Investment Insights
Based on property information with market context.
Located in the Toluca Lake neighborhood of North Hollywood, this multifamily property is an investment opportunity. The property, planned for 2025, will feature 14 units with approximately 13,719 square feet of living space. The unit mix includes nine 1-bedroom/1-bath units and five 2-bedroom/1-bath units. The property is designed with functional floorplans and includes private balconies, and in-unit washer and dryer. Eleven units will include attached garage parking. The property benefits from rental demand and proximity to studios, dining, shopping, and freeway access. This property is intended for investors seeking income in a centrally located neighborhood.
Key Highlights
- Brand‑new 2025 multifamily property in the highly desirable Toluca Lake neighborhood.
- Excellent unit mix of nine 1‑bedroom/1‑bath and five 2‑bedroom/1‑bath units.
- Eleven units include attached garage parking, a rare amenity.
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$220,750
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
2.94%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,415,000
$4.4M
Cap Rate 7%
$3,153,571
$3.2M
Cap Rate 9%
$2,452,778
$2.5M
Market Conditions
NOI Build-Up for 13,719 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$436.3K $31.80/SF
− Vacancy
−$34.9K −$2.54/SF
EGI
$401.4K $29.26/SF
− OpEx
−$180.6K −$13.17/SF
NOI
$220.7K $16.09/SF
Area
Los Angeles County, CA
Vacancy
8.00%
Lease Rate
$31.80 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$4,415,000
Cap Rate 7%
$3,153,571
Cap Rate 9%
$2,452,778
Alternative Uses
Best Use
Apartment 5plus
$3.15M
$2.76M – $3.68M
NOI $220,750 @ 7.0% cap · market cap 2.94%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.35M
$6.43M – $8.57M
NOI $514,157 @ 7.0% cap · market cap 6.86%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
2,081
Businesses Nearby
Explore this area
Business Placement
Demographics for 91602, CA
19,647
Population
10,791
Households
1.8
Avg Household Size
39
Median Age
55%
College-Educated
96%
High-School Grad
2.0 sq mi
ZIP Area
9,824
Density / Sq Mi
$97,994
Median Household Income
$61,134
Median Earnings
$2,186
Median Rent
$1,104,400
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - New 14-unit multifamily property in North Hollywood's Toluca Lake.
Where is this apartment building located?
The property is located at 10652 Whipple Street North Hollywood, CA.
What is the asking price?
The asking price for this property is $7,500,000.
What are key features of this property?
This property features: Brand‑new 2025 multifamily property in the highly desirable Toluca Lake neighborhood.; Excellent unit mix of nine 1‑bedroom/1‑bath and five 2‑bedroom/1‑bath units.; Eleven units include attached garage parking, a rare amenity.
