Updated 6-Unit Apartment
For Sale
$900,000
3701 Morse Ave, Sacramento, CA 95821
Six residential units feature refreshed interiors, individual HVAC systems, resident laundry, and off-street parking.
Property Size3,688 SF
Price / SF$244.03
Days on Market62
Property Features for 3701 Morse Ave
General Information
Standard status
Active
Size
3,688 SF
Property subtype
Multi-Family
Units
Unit Mix
6 x 2BR/1BA
Multifamily Units
6
Amenities
on-site laundry
off-street parking
Building Details
Year Built
1957
Buildings
1
Listing Agency:
North Coast Commercial, Inc.
Listed By:
Timothy P Swanston · License #01887506
(916) 979-9930
Source:
Aspirerealestateca
Added: Aug 18
Changed: Oct 15
Last Checked: Oct 16 at 11:31AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of North Coast Commercial, Inc.
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Investment Insights
Based on property information with market context.
This 6-unit apartment property in Sacramento’s Arden/Arcade submarket was built in 1957 and offers an all two-bedroom, one-bathroom unit mix. Interiors include updated cabinetry, countertops, appliances, and bathroom vanities, with laminate flooring in living areas and bathrooms and carpeting in the bedrooms. Each residence includes an electric range, refrigerator, dishwasher, and garbage disposal, along with an individual wall-mounted heating and air conditioning system. Residents pay the utilities serving their units.
On-site amenities include laundry facilities and off-street resident parking. Recent capital work includes replacement of the central water heater in 2025, a roof installed approximately two years ago, and upgraded electrical subpanels with Arc-Fault and Tamper-Resistant circuit breakers. The property is located at 3701 Morse Ave in Sacramento, CA 95821.
On-site amenities include laundry facilities and off-street resident parking. Recent capital work includes replacement of the central water heater in 2025, a roof installed approximately two years ago, and upgraded electrical subpanels with Arc-Fault and Tamper-Resistant circuit breakers. The property is located at 3701 Morse Ave in Sacramento, CA 95821.
Key Highlights
- 6‑unit apartment building with an all two‑bedroom, one‑bathroom unit mix
- Approximately 634 square feet per unit
- Updated cabinetry, countertops, appliances, bathroom vanities, and flooring
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$57,931
Cap Rate
6.44%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,620
$1.2M
Cap Rate 7%
$827,586
$827.6K
Cap Rate 9%
$643,678
$643.7K
Market Conditions
NOI Build-Up for 3,688 SF
Gross rent
$110.6K $30.00/SF
− Vacancy
−$5.3K −$1.44/SF
EGI
$105.3K $28.56/SF
− OpEx
−$47.4K −$12.85/SF
NOI
$57.9K $15.71/SF
Area
Sacramento, CA
Vacancy
4.80%
Lease Rate
$30.00 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,158,620
Cap Rate 7%
$827,586
Cap Rate 9%
$643,678
Alternative Uses
Best Use
Apartment 5plus
$827.6K
$724.1K – $965.5K
NOI $57,931 @ 7.0% cap · market cap 6.44%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$991.0K
$867.1K – $1.16M
NOI $69,371 @ 7.0% cap · market cap 7.71%
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
1,048
Businesses Nearby
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Business Placement
Demographics for 95821, CA
39,310
Population
16,403
Households
2.4
Avg Household Size
37
Median Age
28%
College-Educated
87%
High-School Grad
7.1 sq mi
ZIP Area
5,537
Density / Sq Mi
$58,331
Median Household Income
$41,630
Median Earnings
$1,342
Median Rent
$470,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Apartment building - Six residential units feature refreshed interiors, individual HVAC systems, resident laundry, and off-street parking.
Where is this apartment building located?
The property is located at 3701 Morse Ave Sacramento, CA.
What is the asking price?
The asking price for this property is $900,000.
What are key features of this property?
This property features: 6‑unit apartment building with an all two‑bedroom, one‑bathroom unit mix; Approximately 634 square feet per unit; Updated cabinetry, countertops, appliances, bathroom vanities, and flooring
