USC lists president's mansion for sale

USC listed its Santa Monica president’s mansion for sale earlier this month at an asking price of $9.98 million.

The sleek four-bed, five-bath Ray Kappe-designed property served as a home for former President Carol Folt, who stepped down from her role in July. The school bought the modernist compound — complete with a pool, gym, and ocean view — in 2020 for $8.6 million.

“Supremely situated in one of Santa Monica's most desirable enclaves, this home captures the essence of California coastal living,” reads the Zillow listing for 721 Adelaide Pl.

Morning, Trojan previously reported that the school spent $50,000 to install a waist-high gate at the home amid a budget crisis that has led to over 700 employee layoffs. The school initially cited security for the construction.

In April, Folt and her husband purchased a $2.7 million corner-unit penthouse on the top floor of a luxury Santa Monica high rise, property records show.

Tomo Chien can be reached at [email protected].