3250 Fairesta St, Glendale — 92-Unit Multifamily, $24.2M (Jul 2014)

Updated April 28, 2026

Units: 92 · Sale price: $24,250,000 · Price per unit: $263,586 · Closed: July 2014

A 92-unit larger multifamily property at 3250 Fairesta St in Glendale, sold July 2014 for $24,250,000 — approximately $263,586 per unit.

2014 was an active year for LA multifamily — deepening buyer pool, increasing transaction volume, pricing compressing steadily in core submarkets.

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

Larger multifamily at this scale draws institutional and private equity capital with deeper underwriting processes and longer hold horizons.

Set against the rest of the Glendale record, this is the largest of the 12 Glendale apartment buildings Michael Sterman has closed.

At $263,587 a unit it traded essentially on the Glendale median of $258,854, across those 12 closings.

Other Glendale closings the same year: 1345 Hilda Ave (9 units, $2,325,000), 1355 Hilda Ave (7 units, $2,100,000), 1036 Linden Ave (6 units, $1,325,000).

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.