2550 College Pl, Fullerton, CA 92831
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2550 College Pl Fullerton, CA 92831

$8,700,000
  • 32 Beds
  • 28.5 Baths
  • 17,296 Sq.Ft.
For Sale
$8,700,000 Get Pre-Qualified

Map preview of 2550 College Pl, Fullerton, CA 92831

Property Overview: 2550 College Pl Fullerton, CA has 32 bedrooms, 28.5 bathrooms, 17,296 living square feet and 20,037 square feet lot size. Call an Ardent Real Estate Group agent to verify current availability of this home or with any questions you may have.

Agent Remarks: 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.

Listed by Tyler Leeson | BRE #01451551 | Marcus & Millichap RE Invest
Last checked: 9 minutes ago | Last updated: June 6th, 2024 | Source CRMLS | DOM: 38
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Home details

Lot Sq. Ft
20,037
HOA Dues
$0/mo
Year built
1988
Garage
21 Car
Property Type:
Apartment
Status
Active
MLS#
OC24100402
City
Fullerton
County
Orange
Time on Site
38 days
Multi-Family Unit Breakdown
Unit Mix Summary
  • Total # of Units: 18
  • Total # of Buildings: 1
  • # of Electric Meters: 18
  • # of Gas Meters: 18
  • # of Water Meters: 1
Unit Breakdown 1
  • # of Units: 14
  • # of Beds: 2
  • # of Baths: 2
  • Garage Spaces: 11
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $42,650
  • Total Rent: $42,650
  • Pro Forma/Market Rent: $46,130
Unit Breakdown 2
  • # of Units: 4
  • # of Beds: 1
  • # of Baths: 1
  • Garage Spaces: 10
  • Garaged Attached? No
  • Furnishing: Unfurnished
  • Actual Rent: $9,320
  • Total Rent: $9,320
  • Pro Forma/Market Rent: $9,580
Multi-Family Income/Expense Information
Property Income and Analysis
  • Cap Rate: 4.57%
  • Gross Rent Multiplier: 13.83
  • Gross Scheduled Income: $623,640
  • Net Operating Income: $397,698
  • Gross Operating Income: $604,931
  • Vacancy Allowance: $18,709
  • Other Income 1: $5,313
  • Other Income Description: Misc
Annual Expense Breakdown
  • Total Operating Expense: $212,546
  • Electric: $8,871
  • Gas/Fuel: $8,871
  • New Taxes: $92,431
  • Trash: $8,871
  • Insurance: $13,500
  • Maintenance: $12,600
  • Professional Management: $24,410
  • Water/Sewer: $8,874
  • Other Expenses: $34,118
  • Other Expense Description: Misc

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Property Details for 2550 College Pl

Interior Features
Laundry Information
  • Has Laundry
  • Community
Interior Features
  • Levels: Two
Exterior Features
Exterior Features
  • No Pool
  • Pool Features: None
Lot Details / Garage and Parking
Parking/Garage Information
  • # of Garage Spaces: 21
  • # of Parking Spaces: 21
Lot Information
  • Lot Features: Level with Street
  • Lot Size Source: Assessor
  • Common Interest: Community Apartment
Property Information
  • Common Walls: No Common Walls
  • Total # of Units: 18
  • Parcel Number: 33811214
  • Year Built Source: Assessor
  • Entry Level: 1
  • Property is not Attached
Homeowners Association, Utilities, Taxes / Assessments
Homeowners Association
  • Is Not Part of Association
Utilities Information
  • Sewer: Public Sewer
  • Water Source: Public
Location / Neighborhood
Location Information
  • Subdivision Name: Other (OTHR)
  • Other Subdivision Name: College Area
  • Directions: Cross Streets of College Place & North Placentia Avenue
Neighborhood Information
  • Community Features: Curbs, Gutters, Sidewalks
View more facts & features

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Sale History for 2550 College Pl

Last sold for $4,250,000 on May 31st, 2016
  • May, 2024

  • May 17, 2024

    Date

    Active

    CRMLS: OC24100402

    $8,700,000

    Price

  • May, 2016

  • May 31, 2016

    Date

    Sold (Public Records)

    Public Records

    $4,250,000

    Price

  • March, 2001

  • Mar 30, 2001

    Date

    Sold (Public Records)

    Public Records

    --

    Price

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Tax History for 2550 College Pl

Assessed Value (2020): $4,421,700
Year Land Value Improved Value Assessed Value
2020 $2,122,416 $2,299,284 $4,421,700

Home Value Compared to the Market

This property vs the competition

2550 College Pl is listed 792.31% higher than the median list price for the city of Fullerton which has a median list price of $975,000. The median price per/sqft for Fullerton is $603 and this home is listed at $503.01 per/sqft which puts the price per square foot 16.58% lower than the median price per square foot for the city of Fullerton.

About 2550 College Pl

Detailed summary of property

2550 College Pl is a apartment located in Fullerton, CA 92831 and is currently for sale. This apartment offers 32 bedrooms, 28.5 bathrooms, roughly 17,296 living square feet, and sits on an approximately 20,037 square foot lot. 2550 College Pl was first listed on ArdentRealEstateGroup.com on May 17, 2024. The homeowner is currently asking $8,700,000. The median priced home in Fullerton is $975,000 with a median price per square foot of $603. Based on Ardent Real Estate Group's Fullerton Market Data, this home is listed 792.31% higher than the median priced home. Local competing homes currently for sale include 339 S Oxford Ave, 641 N Hobart Blvd and 2041 N Vermont Ave. While the average home in Fullerton, CA is selling in 47 days, 2550 College Pl has a days on market of 38 days. There are currently 184 homes for sale in the Fullerton real estate market and 143 of them are single family homes while 27 of them are condos and 14 are townhomes. For more information on this home for sale at 2550 College Pl Fullerton, CA 92831 contact Ardent Real Estate Group and we will put you in touch with one of our Fullerton agents.

Public Facts for 2550 College Pl

Public county record property details
Beds
--
Baths
--
Year built
--
Sq. Ft.
--
Lot Size
19,360
Stories
--
Type
Multi-Family Dwellings (Generic, Any Combination 2+)
Pool
No
Spa
No
County
Orange
Lot#
--
APN
338-112-14

The source for these homes facts are from public records.

92831 Real Estate Sale History (Last 30 days)

Last 30 days of sale history and trends
Median List Price
$1,150,000
Median List Price/Sq.Ft.
$586
Median Sold Price
$845,000
Median Sold Price/Sq.Ft.
$526
Total Inventory
48
Median Sale to List Price %
96.02%
Avg Days on Market
22
Loan Type
Conventional (66.67%), FHA (4.17%), VA (4.17%), Cash (16.67%), Other (8.33%)

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Based on information from California Regional Multiple Listing Service, Inc. as of 2019. This information is for your personal, non-commercial use and may not be used for any purpose other than to identify prospective properties you may be interested in purchasing. Display of MLS data is usually deemed reliable but is NOT guaranteed accurate by the MLS. Buyers are responsible for verifying the accuracy of all information and should investigate the data themselves or retain appropriate professionals. Information from sources other than the Listing Agent may have been included in the MLS data. Unless otherwise specified in writing, Broker/Agent has not and will not verify any information obtained from other sources. The Broker/Agent providing the information contained herein may or may not have been the Listing and/or Selling Agent.