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Chuck Lamm

chuck.lamm@engelvoelkers.com +1(818) 652-2876

$ 8,700,000

Est. payment -/mo

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Active Under Contract

2550 College PL Fullerton, CA 92831

17,296 SqFt

UPDATED:

10/01/2024 04:33 PM

Key Details

Property Type Condo

Sub Type Apartment

Listing Status Active Under Contract

Purchase Type For Sale

Square Footage 17,296 sqft

Price per Sqft $503

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

Rooms

Ensuite Laundry Common Area

Interior

Laundry Location Common Area

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

Chuck Lamm

Broker Associate | License ID: 00857151

+1(818) 652-2876

Chuck Lamm

2550 College PL Fullerton, CA 92831

Key Details

Location

Rooms

Interior

Exterior

Building

Others

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2550 College PL