Two-Building Residential Income
For Sale
$1,350,000
119-121 Tremont St, Fall River, MA 02720
Residential Income, Fall River, MA
Property Size6,898 SF
Lot Size0.14 Acres
Price / SF$195.71
Days on Market144
Property Features for 119-121 Tremont St
General Information
Property type
Residential Multi Family
Property subtype
Other
Zoning
M
Bedrooms
21
Bathrooms
7
Full bathrooms
7
Rooms
Bedroom 3, Bathroom 6, Bedroom 6, Bedroom 13, Bedroom 2, Bedroom 14, Bedroom 7, Bathroom 7, Bedroom 15, Bathroom 2, Bathroom 4, Bathroom 3, Bedroom 18, Bedroom 9, Bedroom 11, Bedroom 17, Bedroom 4, Bedroom 19, Bedroom 10, Bedroom 8, Bedroom 16, Bathroom 5, Bathroom 1, Bedroom 1, Bedroom 5, Bedroom 21, Bedroom 20, Bedroom 12
Parking
7
Directions
Use GPS
Standard status
Active
APN
M:0M13 B:0000 L:0049,2832263
Size
6,898 SF
Lot size
0.14 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
9127
Building Details
Year built
1900
Floors in Building
5
Number of units
7
Listing Agency:
RE/MAX Vantage · RE/MAX International
(774) 992-0297
Listed By:
Eddie Lopez
(508) 999-4424
Added: Mar 30
Changed: Aug 19
Last Checked: Aug 20 at 10:06AM
MLS# 73493353
Copyright © 2026 MLS Property Information Network Inc. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
This residential income property consists of two buildings on the same lot: a six-unit structure and an additional single-family home. The six units are described as having three-bedroom layouts that are identical across the building, with a space heater and a galley-style kitchen opening to a living/dining area. The separate single-family residence is described as having three bedrooms and one bath.
Both buildings share a large, off-street parking lot area.
The property is offered for sale in Fall River, Massachusetts.
Both buildings share a large, off-street parking lot area.
The property is offered for sale in Fall River, Massachusetts.
Key Highlights
- Rare 6‑unit multifamily plus an additional single‑family home on the same lot
- 6 units consist of 3‑bedroom layouts with identical unit floorplans
- Each 6‑unit apartment includes a space heater and galley‑style kitchen with open living/dining area
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$114,564
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.49%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,291,280
$2.3M
Cap Rate 7%
$1,636,629
$1.6M
Cap Rate 9%
$1,272,933
$1.3M
Market Conditions
NOI Build-Up for 6,898 SF
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.
Gross rent
$223.5K $32.40/SF
− Vacancy
−$15.2K −$2.20/SF
EGI
$208.3K $30.20/SF
− OpEx
−$93.7K −$13.59/SF
NOI
$114.6K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$2,291,280
Cap Rate 7%
$1,636,629
Cap Rate 9%
$1,272,933
Alternative Uses
Best Use
Apartment 5plus
$1.64M
$1.43M – $1.91M
NOI $114,564 @ 7.0% cap · market cap 8.49%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.20M
$3.68M – $4.90M
NOI $294,053 @ 7.0% cap · market cap 21.78%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
Location Intelligence
Trade Area within ½ mile
2,346
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Two buildings on one lot include a six-unit property and a separate single-family home with shared off-street parking.
Where is this apartment building located?
The property is located at 119-121 Tremont St Fall River, MA.
What is the asking price?
The asking price for this property is $1,350,000.
What are key features of this property?
This property features: Rare 6‑unit multifamily plus an additional single‑family home on the same lot; 6 units consist of 3‑bedroom layouts with identical unit floorplans; Each 6‑unit apartment includes a space heater and galley‑style kitchen with open living/dining area
