Description
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.
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0BEDS
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1.26ACRES
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0BATHS
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01/2 BATHS
School Information
Description
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.
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