Turnkey Six-Unit Investment
For Sale
$979,000
131 Thomas St, Fall River, MA 02723
Fully occupied six-unit building with separate utilities and updates.
Property Size4,704 SF
Price / SF$208.12
Days on Market153
Property Features for 131 Thomas St
General Information
Standard status
Active
Size
4,704 SF
Property subtype
5-9 Family
Building Details
Year Built
1900
Listing Agency:
Dan Quintal Real Estate
(508) 676-7274
Listed By:
Daniel Quintal · License #450550781
(774) 248-5252
Source:
Lockandkeyre
Added: May 21
Changed: Oct 16
Last Checked: Oct 19 at 9:36AM
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 Dan Quintal Real Estate
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a six-unit, fully occupied investment property. All utilities are separate and paid for by the tenants. Updates have been made over the years, including a new fire panel and a roof that is approximately 10 years old. Two of the six units have de-lead certificates. The driveway could be extended to offer more off-street parking. Rents are currently below market. The property is located in a walkable community with a walk score of 89, indicating it is very walkable. The bike score is 63, indicating it is bikeable. The transit score is 43, indicating some transit options are available.
Key Highlights
- Turnkey 6‑unit building, currently fully occupied.
- All utilities are separated and paid by tenants.
- Rents are currently below market, offering potential for increased income.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$78,125
Cap Rate
7.98%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,562,500
$1.6M
Cap Rate 7%
$1,116,071
$1.1M
Cap Rate 9%
$868,056
$868.1K
Market Conditions
NOI Build-Up for 4,704 SF
Gross rent
$152.4K $32.40/SF
− Vacancy
−$10.4K −$2.20/SF
EGI
$142.0K $30.20/SF
− OpEx
−$63.9K −$13.59/SF
NOI
$78.1K $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%
$1,562,500
Cap Rate 7%
$1,116,071
Cap Rate 9%
$868,056
Alternative Uses
Best Use
Apartment 5plus
$1.12M
$976.6K – $1.30M
NOI $78,125 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$2.86M
$2.51M – $3.34M
NOI $200,526 @ 7.0% cap · market cap 20.48%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Location Intelligence
Trade Area within ½ mile
1,107
Businesses Nearby
Explore this area
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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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 - Fully occupied six-unit building with separate utilities and updates.
Where is this apartment building located?
The property is located at 131 Thomas St Fall River, MA.
What is the asking price?
The asking price for this property is $979,000.
What are key features of this property?
This property features: Turnkey 6‑unit building, currently fully occupied.; All utilities are separated and paid by tenants.; Rents are currently below market, offering potential for increased income.
