615 S Glendale Ave, Glendale — 27-Unit Multifamily, $2.9M (Jun 2015)

Updated April 28, 2026

Units: 27 · Sale price: $2,925,000 · Price per unit: $108,333 · Closed: June 2015

A 27-unit mid-size multifamily property at 615 S Glendale Ave in Glendale, sold June 2015 for $2,925,000 — approximately $108,333 per unit.

By 2015, LA multifamily transaction volume had returned to pre-2008 levels. Institutional and 1031 capital were both active across the full range of 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.

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 2nd largest of the 12 Glendale apartment buildings Michael Sterman has closed.

At $108,333 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.