3250 Fairesta St, Glendale — 92 Units at $263,587 a Door in 2014

Updated August 25, 2026

Ninety-two units. $24,250,000. July 2014. $263,587 a unit.

The number that should stop an LA City owner is the year. In 2014, a large Glendale building traded at over a quarter of a million dollars a door — a level most comparable pre-1978 buildings inside the City of Los Angeles did not reach until years later, if at all.

Size usually pushes per-unit pricing down. Here it did not.

Across this archive, per-door pricing falls as unit count rises. The largest closing in the record, 138 units in Reseda, traded at $105,072 a unit. A 92-unit building clearing $263,587 runs directly against that gradient.

The explanation is not the building. It is the jurisdiction.

Glendale is not Los Angeles

Glendale is its own incorporated city. The LA City Rent Stabilization Ordinance does not apply there, and neither does Measure ULA. Glendale has no local rent control ordinance of its own, so covered buildings run on the statewide Tenant Protection Act, AB 1482 — currently 5% plus regional CPI, capped at 10%, which for increases effective August 2026 through July 2027 means 8.7%.

An equivalent pre-1978 building inside LA City sits under the rewritten RSO at 3% for the current year.

That difference compounds. On ninety-two units, over a hold period, the gap between an income stream that can grow at the state formula and one capped near inflation is not a detail — it is the valuation. A buyer paying $263,587 a door in 2014 was not paying for the walls. They were paying for the rent trajectory the walls were allowed to have.

What that means for an owner comparing across the line

The most common and most expensive mistake in the eastern and northern edges of this market is treating the city boundary as an address detail. It is a pricing variable, and frequently the largest one.

Two buildings of similar age, size and condition — one in Glendale, one a few miles south inside LA City — are not the same asset and should never be priced from the same comparable set. The Glendale building's income can grow at roughly three times the rate. That is capitalized into the price, and it should be.

Measure ULA sharpens it further at this size. On a $24,250,000 sale inside LA City, the transfer tax alone would run 5.5% of gross price. In Glendale it is zero.

What an owner should take from it

Establish the jurisdiction before the comparables. Not the neighborhood — the incorporated city. It determines the rent formula and the transfer tax, and both are priced.

Size does not always suppress per-unit pricing. Where a regulatory advantage exists, it can more than offset the scale discount, as it did here.

A cross-boundary comparison needs an adjustment, not an average. Comparing a Glendale building to an LA City building without adjusting for the regime produces a wrong number in a predictable direction.

Every figure is taken directly from the closed-deal archive. Regulatory positions were verified against current sources on 25 August 2026. This is a broker's analysis, not legal or tax advice.