Fullerton, CA 92831 2550 College Place

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Presented By: Tyler Leeson with Marcus & Millichap RE Invest; 714-713-9086
  • MLS# OC24100402
  • 05/17/2024
  • Request Tour
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  • BedBeds • 32
  • BathBaths • 2
  • FootageSQFT • 17,296
  • GarageGarage • 21

Home Details

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.
Presented By: Tyler Leeson with Marcus & Millichap RE Invest; 714-713-9086

Interior Features for 2550 College Place

Other Interior Features

Air Conditioning Y/NNo
Basement (Y/N)No
Common WallsNoCommonWalls
Electric On Property Y/NNo
Fireplace Y/NNo
Heating Y/NNo
Laundry FeaturesCommonArea
Total Stories2

Other Rooms

Entry Level1

General for 2550 College Place

Additional Parcels Y/NNo
Attached Garage No
Building Area UnitsSquareFeet
Cap Rate4.57
Carport Y/NNo
CityFullerton
Community FeaturesCurbs, Gutters, Sidewalks
CountyOrange
Days on Market19
DirectionsCross Streets of College Place & North Placentia Avenue
Electric Expense8871.0
Entry LocationFirst Level
Fuel Expense8871.0
Garage Spaces21.0
Garage Y/NYes
Gross Income628953.0
HOA0.0
HOA / Comm AssnNo
Home Warranty Y/NNo
Insurance Expense13500.0
Land Lease Y/NNo
Lease Considered Y/NNo
Lease Renewal Y/NNo
LevelsTwo
Listing TermsCash, CashtoNewLoan, Item1031Exchange
Lot Size Square Feet20037.6
Lot Size UnitsAcres
MLS Area83 - Fullerton
MaintenanceExpense12600.0
MobileHomeRemainsYNNo
Net Operating Income397698.0
New ConstructionNo
NumberOfUnitsTotal18
Operating Expense212546.0
Pool FeaturesNone
Private PoolNo
Property Attached Y/NNo
Property Sub Type AdditionalApartment
Property SubTypeApartment
Property TypeResidentialIncome
Rent Control Y/NNo
Senior Community Y/NNo
SewerPublicSewer
Special Listing ConditionsStandard
Standard StatusActive
StatusActive
Stories2
Subdivision NameCollege Area
Tax Lot2
Taxes$92,431
Trash Expense8871.0
View Y/NNo
Water Sewer Expense8874.0
Waterfront Y/NNo
Year Built1988
Year Built SourceAssessor

Exterior for 2550 College Place

Building Area Total17296.0
Crops Included Y/NNo
Horse Y/NNo
Irrigation Water Rights Y/NNo
Lot FeaturesStreetLevel
Lot Size Acres0.46
Lot Size Area0.46
Lot Size SourceAssessor
Number of Buildings1
Number of Separate Electric Meters18
Number of Separate Gas Meters18
Number of Separate Water Meters1
Open Parking Y/NNo
SpaNo
Total Parking21.0
Water SourcePublic

Additional Details

Price History

1527188455

First Team Client Services

Price $8,700,000
MLS#OC24100402
List Date 05/17/2024
Property Type Multi-Family
Phone 714.964.3311
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