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Fullerton, CA 92831,2550 College PL
Fullerton, CA 92831,2550 College PL
Fullerton, CA 92831,2550 College PL
$8,500,000
Est. payment /mo
$8,700,000
2.3%
Est.Price: ?

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0.46 Acres Lot
SOLD DATE : 12/05/2024

Key Details

Sold Price $8,500,000

Property Type Condo

Sub Type Apartment

Listing Status Sold

Purchase Type For Sale

Subdivision College Area

MLS Listing ID OC24100402

Year Built 1988

Lot Size 0.460 Acres

Property Description

2550 College Place is an 18-unit multifamily investment property located directly adjacent to the campuses of Hope International University (HIU) and California State University, Fullerton (CSUF). 2550 College Place offers a highly desirable mix of 4, one-bedroom units and 14, two-bedroom units, each with a private patio or balcony. The property offers a gated parking garage and an on-site laundry facility, two highly desirable amenities for potential renters. 2550 College Place benefits from its optimal Fullerton location, within walking distance of HIU and CSUF, major employment and housing drivers for the area. Currently just 3 percent of CSUF students live in college-owned, -operated, or -affiliated housing leaving a substantial demand for the more than 40,000 enrolled students to find campus adjacent housing. Additionally, residents enjoy convenient access to downtown Fullerton, a popular destination for dining, entertainment, and nightlife. Furthermore, the property benefits from its close proximity to State Routes 57 and 91, connecting residents to employment hubs throughout Southern California. Given the property?s unique location, adjacent to HIU and CSUF, the property offers an investor the ability to capture quality tenants seeking an optimal location with access to the universities as well as a wide variety of activities and area amenities. This overall demand for well-located apartments will be a key driver in the continued growth at 2550 College Place.

Location

State CA

County Orange

Area 83 - Fullerton

Interior

Laundry Common Area

Exterior

Garage Spaces 21.0

Garage Description 21.0

Pool None

Community Features Curbs, Gutter(s), Sidewalks

Building

Lot Description Street Level

Story 2

Sewer Public Sewer

Water Public

New Construction No

Others

Acceptable Financing Cash, Cash to New Loan, 1031 Exchange

Listing Terms Cash, Cash to New Loan, 1031 Exchange

Special Listing Condition Standard

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California Regional MLS (CRMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com
Bought with Daniel Blackwell • CB Richard Ellis, Inc.
Devone Richard

Broker | License ID: 1002115

+1(626) 500-1212 | devone@nextadvisors.properties

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