Vacant Six-Family Residential
1017 Pine Street Fall River, MA 02723
1017 Pine Street, Fall River, MA, 02723
$975,000
For Sale
$975,000
Fully vacant six-family building with upgraded HVAC and on-demand hot water, separately metered utilities for new tenants.
Property Size4,457 SF
Price / SF$218.76
Days on Market42
Property Features for 1017 Pine Street
General Information
- Standard status
- Active
- Size
- 4,457 SF
- Property subtype
- 5-9 Family
Building Details
- Year Built
- 1900
Listing Agency
ERA The Castelo Group
(508) 496-1282
Listed by
Martin Correia
(508) 496-1282
Source
Lockandkeyre
Added: Jun 6 Checked: Jul 17 at 5:41 am
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 ERA The Castelo Group
Investment Insights
Based on property information with market context.
This well-maintained six-family residential property is fully vacant and ready for new tenants. The building has undergone major system upgrades, including updated heating and air conditioning systems, along with new on-demand hot water units. Utilities are separately metered, supporting straightforward billing and tenant-level control.
The property is located at 1017 Pine Street in Fall River, MA 02723. With the unit mix already in place and the key building systems improved, it offers a clear path to re-occupancy.
For buyers seeking a turnkey multifamily acquisition, the current vacancy status can reduce initial setup friction and allow immediate leasing efforts. Separately metered utilities can also be attractive for tenants and operators looking for cleaner, individual utility responsibility. Overall, it presents a practical option for an owner planning to stabilize occupancy while leveraging the completed mechanical upgrades.
The property is located at 1017 Pine Street in Fall River, MA 02723. With the unit mix already in place and the key building systems improved, it offers a clear path to re-occupancy.
For buyers seeking a turnkey multifamily acquisition, the current vacancy status can reduce initial setup friction and allow immediate leasing efforts. Separately metered utilities can also be attractive for tenants and operators looking for cleaner, individual utility responsibility. Overall, it presents a practical option for an owner planning to stabilize occupancy while leveraging the completed mechanical upgrades.
Key Highlights
- Six‑family building built in 1900, fully vacant and ready for new tenants
- Upgraded HVAC systems throughout, with major system improvements already completed
- New on‑demand hot water units installed
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $144.4k | $32.40 |
| − Vacancy | −$9.8k | −$2.20 |
| EGI | $134.6k | $30.20 |
| − OpEx | −$60.6k | −$13.59 |
| NOI | $74.0k | $16.61 |
4,457 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$925.3K – $1.23M
NOI $74,023 @ 7.0% cap · market cap 7.59%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.71M
$2.37M – $3.17M
NOI $189,997 @ 7.0% cap · market cap 19.49%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Fully vacant six-family building with upgraded HVAC and on-demand hot water, separately metered utilities for new tenants.
Where is this apartment building located?
The property is located at 1017 Pine Street Fall River, MA.
What is the asking price?
The asking price for this property is $975,000.
What are key features of this property?
This property features: Six‑family building built in 1900, fully vacant and ready for new tenants; Upgraded HVAC systems throughout, with major system improvements already completed; New on‑demand hot water units installed
