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2900 Marconi Avenue

Sacramento, CA 95821
  • $6,900,000
  • STATUS: Active
  • ON SITE: 18 Days
  • MLS #: 223002959
$6,900,000
  • 0
    BEDS
  • 1.26
    ACRES
  • 0
    BATHS
  • 0
    1/2 BATHS
Type:
Multi-Family
Built:
1953
County:

School Information

Elementary School:
Middle School:
High School:
School District:

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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Metrolist MLS logo © 2023 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2023-01-31T23:38:45.293. MetroList® MLS Terms of Use. IDX provided by BoomTown.
www.sacramentoareahomefinder.com/homes/136056464
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2900 Marconi Avenue Sacramento, CA 95821

  • Price: $6,900,000
  • Status: Active
  • On Site: 18 Days
  • MLS #: 223002959
0
Beds
0
Baths
0
½ Baths
1.26
Acres
1953
Built
Neighborhood:
Sacto Arden/Arcade Creek/Vicinit
County:
Sacramento
Area:
Sacto Arden/Arcade Creek/Vicinit
Elementary School:
Sacramento Unified
Middle School:
Sacramento Unified
High School:
Sacramento Unified
School District:
Sacramento
Property 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.
Exterior Features

Architectural Style Traditional Carport Spaces 0.00 Construction Materials ConcreteStuccoWood SidingMasonry Covered Spaces 0.00 Foundation Concrete Independent Parking Spaces 0 Lot Features Other Num Of Floors 2 Num Of Guest Spaces 0 Open Parking Spaces 0.00 Parking Features Off Street Tandem Parking Spaces 0 Total Parking Spaces 40.00

Interior Features

Cooling Ceiling Fan(S)Wall Unit(S) Flooring CarpetLaminateVinylLinoleum Heating Wall Furnace Laundry Features Washer/Dryer LeasedIn Common Area Num Of Rooms 0 Num Of Studio Units 0 Num Of1 Bedroom Units 24 Num Of2 Bedroom Units 16 Num Of3 Bedroom Units 0 Num Of4 Bedroom Units 0 Unit1 Approx Sq Ft 500 Unit1 Bedrooms 1 Unit1 Full Baths 1 Unit1 Partial Baths 0 Unit1 Rent 1350 Unit1 Rooms 1 Unit2 Approx Sq Ft 0 Unit2 Bedrooms 0 Unit2 Full Baths 0 Unit2 Partial Baths 0 Unit2 Rent 0 Unit2 Rooms 0 Unit3 Approx Sq Ft 0 Unit3 Bedrooms 0 Unit3 Full Baths 0 Unit3 Partial Baths 0 Unit3 Rent 0 Unit3 Rooms 0 Unit4 Approx Sq Ft 0 Unit4 Bedrooms 0 Unit4 Full Baths 0 Unit4 Partial Baths 0 Unit4 Rent 0 Unit4 Rooms 0

Property Features

1 Bedroom Annual Occupancy 0 2 Bedroom Annual Occupancy 0 3 Bedroom Annual Occupancy 0 4 Bedroom Annual Occupancy 0 Association No Association Fee 0 Elevation 0 Income Includes Rent Only Irrigation Other Lease Deposit 0 Num Of Commercial Units 0 Property Subtype 5 Or More Units Property Type Residential Income Sewer None Special Listing Conditions None Studio Annual Occupancy 0 Subtype Description ApartmentsGarden Apartments Utilities Natural Gas ConnectedElectric Water Source Public Zoning Rd-30

Metrolist MLS logo Listing provided courtesy of Collier's International Ca, Inc.: . Listing information © 2023 MetroList Services, Inc.


Metrolist MLS logo © 2023 MetroList® MLS. All rights reserved. All measurements and all calculations of area are approximate. Information provided by Seller/Other sources, not verified by Broker. All interested persons should independently verify accuracy of information. Provided properties may or may not be listed by the office/agent presenting the information. Data last updated 2023-01-31T23:38:45.293. MetroList® MLS Terms of Use. IDX provided by BoomTown.
 
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Joanie Cowan - Keller Williams Realty
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Roseville CA, 95678