10640 Woodbridge St, Toluca Lake — 21-Unit Multifamily, $14.7M (Jan 2016)
Updated April 28, 2026
Units: 21 · Sale price: $14,725,000 · Price per unit: $701,190 · Closed: January 2016
A 21-unit mid-size multifamily property at 10640 Woodbridge St in Toluca Lake, sold January 2016 for $14,725,000 — approximately $701,190 per unit.
2016 was mid-cycle for LA multifamily. Pricing had firmed meaningfully from post-2008 lows. Strong bid across stabilized inventory.
Toluca Lake is a small, stable Valley submarket. Buildings transact infrequently but pricing holds when they do.
Mid-size multifamily in this unit range attracts both private investors and smaller institutional buyers, particularly on value-add theses.
Set against the rest of the Toluca Lake record, this is the 2nd largest of the 4 Toluca Lake apartment buildings Michael Sterman has closed.
At $701,190 a unit it sits 108% above the Toluca Lake median of $337,625. Per-unit price tracks condition and the in-place rent roll as much as location, so the gap is a starting question rather than a verdict.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Related
- Selling Multifamily Property in Toluca Lake
- How to Sell a Multifamily Property in Los Angeles
- Request a free evaluation of your building
- Verify this sale independently — search public records and coverage for this transaction yourself
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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