$8,700,000
2550 College PL Fullerton, CA 92831
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$8,700,000
Est. payment /mo
0.46 Acres Lot
Pending
2550 College PL Fullerton, CA 92831
UPDATED:
11/11/2024 05:11 PM
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Pending
Purchase Type For Sale
Subdivision College Area
MLS Listing ID OC24100402
HOA Y/N No
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
Fireplace No
Laundry Common Area
Exterior
Garage Spaces 21.0
Garage Description 21.0
Pool None
Community Features Curbs, Gutter(s), Sidewalks
Total Parking Spaces 21
Private Pool No
Building
Lot Description Street Level
Story 2
Entry Level Two
Sewer Public Sewer
Water Public
Level or Stories Two
New Construction No
Others
Senior Community No
Tax ID 33811214
Energy Description 8871.0
Acceptable Financing Cash, Cash to New Loan, 1031 Exchange
Listing Terms Cash, Cash to New Loan, 1031 Exchange
Special Listing Condition Standard
Listed by Tyler Leeson • Marcus & Millichap RE Invest • tleeson@marcusmillichap.com