Renovated Six-Unit Apartment
1153-1157 Slade Street Fall River, MA 02724
For Sale
$1,400,000
Completely renovated six-unit property with separate heating, individually metered electric, and full sprinkler coverage throughout.
Property Size6,882 SF
Price / SF$203.43
Days on Market106
Property Features for 1153-1157 Slade Street
General Information
- Standard status
- Active
- Size
- 6,882 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1900
Listing Agency:
Keller Williams South Watuppa
(508) 677-3233
Listed By:
Cindy Ferry · License #9067567
(508) 677-3233
Source:
Compass
Added: Apr 13
Changed: Jul 23
Last Checked: Jul 26 at 12:57PM
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 Keller Williams South Watuppa
Investment Insights
Based on property information with market context.
This renovated six-unit apartment building was completely updated in 2013, including plumbing, heating, electrical, and the roof. The property offers a mix of 2-3 bedroom units and 1-2 bedroom units, with each apartment served by its own separate heating system. Electrical service is individually metered for each unit with 100 AMP breakers, providing independent utility control.
Safety systems include a full sprinkler system with sprinklers in every room, smoke detectors tied to an alarm panel that rings directly to the fire department, and heat sensors in every apartment. The building also includes individual storage space in the basement for each unit, as well as laundry hookups in the basement.
Additional amenities include four off-street parking spaces and a small backyard. All current tenants are tenants at will.
Safety systems include a full sprinkler system with sprinklers in every room, smoke detectors tied to an alarm panel that rings directly to the fire department, and heat sensors in every apartment. The building also includes individual storage space in the basement for each unit, as well as laundry hookups in the basement.
Additional amenities include four off-street parking spaces and a small backyard. All current tenants are tenants at will.
Key Highlights
- Completely renovated 6‑family property (renovated in 2013, including plumbing, heating, electrical, and roof)
- 2‑3 bedroom units in 3 apartments and 1‑2 bedroom units in the remaining 3 apartments
- Separate heating systems for all units; electrical is separately metered with 100 AMP breakers in each apartment
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 | $223.0k | $32.40 |
| − Vacancy | −$15.2k | −$2.20 |
| EGI | $207.8k | $30.20 |
| − OpEx | −$93.5k | −$13.59 |
| NOI | $114.3k | $16.61 |
6,882 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,298 @ 7.0% cap · market cap 8.16%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,371 @ 7.0% cap · market cap 20.96%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Apartment buildings
FAQs
What type of property is this?
Apartment building - Completely renovated six-unit property with separate heating, individually metered electric, and full sprinkler coverage throughout.
Where is this apartment building located?
The property is located at 1153-1157 Slade Street Fall River, MA.
What is the asking price?
The asking price for this property is $1,400,000.
What are key features of this property?
This property features: Completely renovated 6‑family property (renovated in 2013, including plumbing, heating, electrical, and roof); 2‑3 bedroom units in 3 apartments and 1‑2 bedroom units in the remaining 3 apartments; Separate heating systems for all units; electrical is separately metered with 100 AMP breakers in each apartment
