As if the bragging rights of leading a prestigious university weren’t enough, past presidents of the University of Southern California formerly got to post up in some pretty swanky digs out in San Marino. But apparently even houses of education couldn’t pass up this seller’s market, as the L.A. Times reports that the long-held university residence has just sold for a record setting $25 million.
The American Colonial estate, named the Seeley Mudd Estate after the man who commissioned it, sits on seven acres of land donated by U.S. Army Gen. George Patton and railroad mogul Henry Huntington, who established San Marino’s Huntington Library a few miles away, according to the L.A. Times.
Spanning some 14,000 square feet of living space, the home has housed USC presidents since 1979. Boasting eight bedrooms and 11 baths, the estate was frequently used for university events.
A carriage house on the property includes a gas station, mechanic’s garage, an office and a chauffeur’s apartment, as well as a car wash bay.
The sale came after a financially hard year for USC. Per the L.A. Times, after pandemic-induced revenue loss, USC announced a hiring freeze last year and a 20 percent reduction to President Carol Folt’s salary. As an additional cost-cutting measure, USC trustees decided to sell the estate and spent $8.6 million on a smaller Santa Monica home for the President.
California Listings Beverly Hills Post Office expert Ernie Carswell and Austin Alfieri of Douglas Elliman held the listing alongside Brent Chang of Compass. Richard Williamson of Golden Gate Sotheby’s International Realty represented the unknown buyer.