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.
This transaction is part of the Sterman Multifamily Group closed archive — over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
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