2900 2904 Marconi Avenue

Sacramento, CA, 95821

$6,900,000

$6,900,000
Active
Active
 - For Sale
beds
1 Bed
baths
1 Bath
property_type
Multi-family
calendar
Built 1953
Morris Apartments is a 40-unit apartment complex built in 1953 with a mix of one- and two-bedrooms units. The apartment community has assigned parking, two on-site laundry facilities, and an on-site swimming pool. The subject property is an excellent opportunity to acquire a well-kept true value-add apartment complex in the thriving submarket of Arden-Arcade. A new owner can reposition the complex with some minor or extensive updates to maximize the rental income at the property. Average rents at the complex for one-bedroom units are $1,110 while new leases in the area are renting for $1,395 per month with $35 RUBs included. The two-bedroom units are also under rented at an average of $1315 where other similar units, in less desirable areas, of Sacramento are renting for upward of $1,600 per month. Please contact listing agent for a full marketing package with income and expense information.
MLS® ID:
223002959
Updated:
1/27/23

Interior Features

Total Bedrooms
1
Full Bathrooms
1
Floor Description
Carpet, Laminate, Vinyl
Cooling
Ceiling Fan(s)

Exterior/Building Features

Lot Size
1.26 acres lot
Architectural Style
Traditional

School Information

School District
Sacramento
High School
Sacramento Unified
Elementary School
Sacramento Unified

Other Property Details

Area Name
10821
Garage
No
Parking
40
Parking Total
40.0
View
N
County
Sacramento
Utilities
Natural Gas Available
Water Source
Public
Pool
No
Buyer Agency Compensation
2

Courtesy of Collier's International CA, Inc., Matthew Sarro,
Listing Contact:  

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