Three-Unit Triplex with
For Sale
$739,900
117 Thomas Street, Fall River, MA 02723
Three residential units feature separate utilities, refreshed interiors, basement laundry hookups, and outdoor amenities including parking and a fenced yard.
Property Size3,045 SF
Price / SF$242.99
Days on Market22
Property Features for 117 Thomas Street
General Information
Standard status
Active
Size
3,045 SF
Property subtype
Multi-family
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Utilities to Site
Yes
Amenities
laundry hook-up
fenced yard
gardening area
off-street parking
garage
Building Details
Year Built
1900
Buildings
1
Listing Agency:
Citipoint Realty Services,LLC
Listed By:
Ola Oladoja
(978) 922-3683
Source:
Jbarrettrealty
Added: Sep 14
Changed: Oct 4
Last Checked: Oct 4 at 10:30AM
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 Citipoint Realty Services,LLC
Investment Insights
Based on property information with market context.
Built in 1900, this 3,045-square-foot triplex contains three residential units, each offering 3 bedrooms, 1 bathroom, a large living room, and a dining room. Kitchen updates were completed in 2023 with granite countertops, while bathrooms were remodeled the same year. Hardwood flooring was installed throughout in 2022, and electrical service was updated in 2019. Additional improvements include refrigerators for all units in 2023, three new gas hot water tanks in 2024, and stove replacements scheduled for Units 1 and 2 in 2026, with a new stove installed in Unit 3 in 2024.
Each unit has its own gas heating system and electrical meter, with separate utilities throughout and a house meter. The basement includes hookups for coin-operated laundry equipment. Exterior features include a fenced yard with a gardening area, off-street parking, and a garage. The property is located at 117 Thomas Street in Fall River, Massachusetts.
Each unit has its own gas heating system and electrical meter, with separate utilities throughout and a house meter. The basement includes hookups for coin-operated laundry equipment. Exterior features include a fenced yard with a gardening area, off-street parking, and a garage. The property is located at 117 Thomas Street in Fall River, Massachusetts.
Key Highlights
- 3,045‑square‑foot triplex with three residential units
- Each unit includes 3 bedrooms, 1 bathroom, living room, and dining room
- Updated kitchens and remodeled bathrooms completed in 2023
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$54,417
Cap Rate
7.35%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,088,340
$1.1M
Cap Rate 7%
$777,386
$777.4K
Cap Rate 9%
$604,633
$604.6K
Market Conditions
NOI Build-Up for 3,045 SF
Gross rent
$84.0K $27.60/SF
− Vacancy
−$6.3K −$2.07/SF
EGI
$77.7K $25.53/SF
− OpEx
−$23.3K −$7.66/SF
NOI
$54.4K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,088,340
Cap Rate 7%
$777,386
Cap Rate 9%
$604,633
Alternative Uses
Best Use
Multifamily LT 5
$777.4K
$680.2K – $907.0K
NOI $54,417 @ 7.0% cap · market cap 7.35%
Second Best
Apartment 5plus
$722.5K
$632.2K – $842.9K
NOI $50,572 @ 7.0% cap · market cap 6.83%
Theoretical Best
Office A
$1.85M
$1.62M – $2.16M
NOI $129,805 @ 7.0% cap · market cap 17.54%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
3
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
969
Businesses Nearby
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Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Triplex - Three residential units feature separate utilities, refreshed interiors, basement laundry hookups, and outdoor amenities including parking and a fenced yard.
Where is this triplex located?
The property is located at 117 Thomas Street Fall River, MA.
What is the asking price?
The asking price for this property is $739,900.
What are key features of this property?
This property features: 3,045‑square‑foot triplex with three residential units; Each unit includes 3 bedrooms, 1 bathroom, living room, and dining room; Updated kitchens and remodeled bathrooms completed in 2023
