234 West Fairview Avenue, Glendale — 19-Unit Multifamily, $4.5M (Apr 2012)

Updated April 28, 2026

Units: 19 · Sale price: $4,520,000 · Price per unit: $237,894 · Closed: April 2012

A 19-unit mid-size multifamily property at 234 West Fairview Avenue in Glendale, sold April 2012 for $4,520,000 — approximately $237,894 per unit.

In 2012, LA multifamily transaction volume was rebuilding from the post-2008 trough. Pricing was beginning to firm as institutional capital returned to the asset class.

Glendale operates under its own local rental ordinance distinct from LA City RSO, producing a different buyer underwriting profile than comparable LA City buildings.

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 Glendale record, this is the 4th largest of the 12 Glendale apartment buildings Michael Sterman has closed.

At $237,895 a unit it sits below the Glendale median of $258,854 — which is what size does to a per-unit number. This building is larger than the median Glendale closing at 8 units, and per-door pricing falls as unit count rises almost everywhere in Los Angeles. A citywide average per unit is not information; the comparable set has to match the building's size.

This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.

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Related

• Selling Multifamily Property in Glendale
• Glendale: the neighborhood, its buildings and what they sell for
• 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

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Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.