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

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3 Beds
3 Baths
0.46 Acres Lot
SOLD DATE : 12/05/2024

Key Details

Sold Price $8,500,000

Property Type Multi-Family

Sub Type Res Income 2-4 Units

Listing Status Sold

Purchase Type For Sale

MLS Listing ID OC24100402

Sold Date 12/05/24

Bedrooms 3

HOA Y/N No

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 propertys 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.
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 propertys 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 Oc - Fullerton (92831)

Zoning Assessor

Building

Lot Description Curbs, Sidewalks

Story 2

Lot Size Range .25 to .5 AC

Level or Stories 2 Story

Others

Monthly Total Fees $384

Acceptable Financing Cash, Exchange

Space Rent $9,320

Listing Terms Cash, Exchange

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San Diego Regional MLS (SDMLS)
Listed by Tyler Leeson • Marcus & Millichap RE Invest
Bought with San Diego

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agent

Mary Ellen Haywood

+1(619) 994-5515

Broker Associate | CA DRE#01264878

Broker Associate CA DRE#01264878

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