Morse Plaza Apartments is a well maintained, 24 unit apartment community. The property consists of (16) 2 Bedroom 1 Bathroom units approximately 875 Sq. Ft & (8) 1 bedroom 1 Bathroom Units approximately 725 Sq. Ft. The property was built in 1971 and boasts updated interior units with vinyl plank flooring, granite counter tops, and updated kitchen cabinets. The building has many capital improvements including a new roof, 100 gallon water heater, swimming pool, patio area, automatic parking gate, exterior paint, exterior lighting, and updated parking lot with a fresh slurry coat. Each unit comes with central heat and air as well as private patios. Morse Plaza has an on site laundry room, covered carport parking, and a remodeled office. The purchaser of Morse Plaza will step into a value add opportunity by simply raising rents to market, in one of the nation's hottest rental markets. Rent Comparable's in the neighborhood strongly suggest that current rents for the apartments at Morse Plaza are under market.
Morse Plaza is located directly across from Kaiser Morse Hospital & next to Kaiser Medical office Building. The property is 2 miles from Arden Fair Mall and Cal Expo. The major shopping center for Sacramento consists of hundreds of stores, services, restaurants and eateries. Morse Plaza is centrally located in the heart of Arden-Arcade, between Alta Arden and Cottage Avenue, and only four miles from CSU Sacramento. The Property is in close proximity to the new Howe Bout Arden shopping center which includes Starbucks, Jamba Juice, Chili's, Nordstrom Rack, Homegoods, and Cinemark Movie Theater. Morse Plaza is just minutes from both Highway 50 and Highway 80. These provide the fastest route to the heart of Sacramento, and easy thoroughfare to the Bay Area, Lake Tahoe, and beyond.
