Six-Unit Apartment
For Sale
$995,000
124 Ash St, Fall River, MA 02724
Fully occupied apartment property with two-bedroom units, off-street parking, and recent system and interior improvements.
Property Size5,208 SF
Lot Size0.23 Acres
Price / SF$191.05
Days on Market16
Property Features for 124 Ash St
General Information
Standard status
Active
Size
5,208 SF
Total Parking Spaces
6
Lot size
0.23 Acres
Property subtype
Residential Income
Occupancy
100%
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
6 x 2BR
Multifamily Units
6
Additional Details
Gross Income
$116,000
Taxes and HOA fees
Annual Taxes
$9,425
Building Details
Year Built
1969
Buildings
1
Stories
3
Tenancy
Multi
Listing Agency:
eXp Realty LLC
(508) 951-6600
Listed By:
Mario Pereira
(508) 951-6600
Source:
Exprealty
Added: Aug 15
Changed: Aug 29
Last Checked: Aug 29 at 11:00AM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This three-story apartment building contains six two-bedroom units within 5208 square feet of living space. The property is fully occupied and includes six off-street parking spaces. Improvements completed since 2020 include renovated bathrooms, new flooring, updated appliances, and an energy-efficient heating system. Separate electric meters serve the units, while heat and hot water are included in the rents.
Built in 1969, the building sits on a 0.23-acre lot in Fall River’s South End. The property offers access to nearby highway routes and is a short drive from Fall River Depot Station, part of the MBTA network. Its unit count, parking, utility metering, and recent upgrades provide a well-defined multifamily configuration.
Built in 1969, the building sits on a 0.23-acre lot in Fall River’s South End. The property offers access to nearby highway routes and is a short drive from Fall River Depot Station, part of the MBTA network. Its unit count, parking, utility metering, and recent upgrades provide a well-defined multifamily configuration.
Key Highlights
- Six fully occupied two‑bedroom units
- 5208 square feet of living space on a 0.23‑acre lot
- Six off‑street parking spaces
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
$86,496
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
8.69%
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%
$1,729,920
$1.7M
Cap Rate 7%
$1,235,657
$1.2M
Cap Rate 9%
$961,067
$961.1K
Market Conditions
NOI Build-Up for 5,208 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
$168.7K $32.40/SF
− Vacancy
−$11.5K −$2.20/SF
EGI
$157.3K $30.20/SF
− OpEx
−$70.8K −$13.59/SF
NOI
$86.5K $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%
$1,729,920
Cap Rate 7%
$1,235,657
Cap Rate 9%
$961,067
Alternative Uses
Best Use
Apartment 5plus
$1.24M
$1.08M – $1.44M
NOI $86,496 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.17M
$2.78M – $3.70M
NOI $222,011 @ 7.0% cap · market cap 22.31%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,127
Businesses Nearby
Explore this area
Business Placement
Demographics for 02724, MA
18,050
Population
8,808
Households
2
Avg Household Size
38
Median Age
15%
College-Educated
76%
High-School Grad
1.8 sq mi
ZIP Area
10,028
Density / Sq Mi
$49,809
Median Household Income
$42,334
Median Earnings
$1,105
Median Rent
$368,300
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 - Fully occupied apartment property with two-bedroom units, off-street parking, and recent system and interior improvements.
Where is this apartment building located?
The property is located at 124 Ash St Fall River, MA.
What is the asking price?
The asking price for this property is $995,000.
What are key features of this property?
This property features: Six fully occupied two‑bedroom units; 5208 square feet of living space on a 0.23‑acre lot; Six off‑street parking spaces
