Units: 92 · Sale price: $24,250,000 · Price per unit: $263,586 · Closed: date unverified
A 92-unit larger multifamily property at 3250 Fairesta St in Glendale, sold date unverified for $24,250,000 — approximately $263,586 per unit.
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 — $1.41 billion across 254 closed transactions over fourteen years at Marcus & Millichap.
Michael Sterman, Senior Managing Director Investments at Marcus & Millichap.
$1.41 billion across 254 closed transactions.
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