6-Unit Apartment
For Sale
$1,300,000
1153 1157 Slade, Fall River, MA 02721
Renovated multifamily property features separately metered apartments and individual heating systems.
Property Size6,882 SF
Days on Market192
Property Features for 1153 1157 Slade
General Information
Standard status
Active
Size
6,882 SF
Total Parking Spaces
4
Property subtype
5-9 Family
Additional Details
Sprinkler System
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$10,083
Amenities
separate storage area in basement
laundry hookups
backyard
Building Details
Building Size
6,882 SF
Year Built
1900
Year Renovated
2013
Listing Agency:
Keller Williams South Watuppa
Listed By:
Cindy Ferry · License #9067567
(508) 677-3233
Source:
Donnellyandco
Added: Apr 13
Changed: Oct 19
Last Checked: Oct 19 at 11:24AM
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
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Investment Insights
Based on property information with market context.
This six-unit apartment building contains 6,882 square feet and was renovated in 2013, including updates to plumbing, heating, electrical systems, and the roof. Three apartments have two to three bedrooms; the other three have one to two bedrooms. Each unit has its own heating system, separate electrical meter, and 100 AMP breaker. Tenants are at will.
Building safety features include a full sprinkler system with coverage in every room, smoke detectors connected to an alarm panel that rings directly to the fire department, and heat sensors in each apartment. The basement provides a separate storage area for every unit and six laundry hookups. Four off-street parking spaces and a backyard are also included.
Building safety features include a full sprinkler system with coverage in every room, smoke detectors connected to an alarm panel that rings directly to the fire department, and heat sensors in each apartment. The basement provides a separate storage area for every unit and six laundry hookups. Four off-street parking spaces and a backyard are also included.
Key Highlights
- Six apartments: three with 2–3 bedrooms and three with 1–2 bedrooms
- 6,882 square feet; renovated in 2013, including plumbing, heating, electrical systems, and roof
- Separate electrical meters and 100 AMP breakers in each unit
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$114,298
Cap Rate
8.79%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,285,960
$2.3M
Cap Rate 7%
$1,632,829
$1.6M
Cap Rate 9%
$1,269,978
$1.3M
Market Conditions
NOI Build-Up for 6,882 SF
Gross rent
$223.0K $32.40/SF
− Vacancy
−$15.2K −$2.20/SF
EGI
$207.8K $30.20/SF
− OpEx
−$93.5K −$13.59/SF
NOI
$114.3K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,285,960
Cap Rate 7%
$1,632,829
Cap Rate 9%
$1,269,978
Alternative Uses
Best Use
Apartment 5plus
$1.63M
$1.43M – $1.90M
NOI $114,298 @ 7.0% cap · market cap 8.79%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.19M
$3.67M – $4.89M
NOI $293,371 @ 7.0% cap · market cap 22.57%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
6
Residential units
Yes
Sprinkler system
Location Intelligence
Trade Area within ½ mile
920
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
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 Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Renovated multifamily property features separately metered apartments and individual heating systems.
Where is this apartment building located?
The property is located at 1153 1157 Slade Fall River, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: Six apartments: three with 2–3 bedrooms and three with 1–2 bedrooms; 6,882 square feet; renovated in 2013, including plumbing, heating, electrical systems, and roof; Separate electrical meters and 100 AMP breakers in each unit
