Three-Unit Multifamily
For Sale
$699,900
121 Almy St, Fall River, MA 02720
Well-maintained rental property with matching three-bedroom units, private basement storage, and access to commuter rail.
Property Size2,520 SF
Days on Market10
Property Features for 121 Almy St
General Information
Standard status
Active
Size
2,520 SF
Property subtype
Investment
Units
Unit Mix
3 x 3BR/1BA
Multifamily Units
3
Additional Details
Public Transit
Yes
Taxes and HOA fees
Annual Taxes
$5,590
Amenities
individual storage areas
off-street parking
Building Details
Building Size
2,520 SF
Year Built
1912
Stories
3
Units
3
Listing Agency:
(603) 834-4587
Listed By:
Bernadette Trafton
(603) 834-4587
Source:
Elliman
Added: Aug 12
Changed: Aug 15
Last Checked: Aug 20 at 7:37AM
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 Bernadette Trafton
Investment Insights
Based on property information with market context.
Built in 1912, this triplex contains three residential units, each configured with 3 bedrooms and 1 bathroom. The basement provides designated storage areas for each unit, along with space that may support a future ADU subject to buyer verification and applicable approvals. Off-street and on-street parking are available.
The property is located at 121 Almy St in Fall River, Massachusetts, within walking distance of the MBTA commuter rail. Shopping, restaurants, schools, public transportation, and major highways are also nearby, with rail service providing access to Boston and surrounding communities. Walk Score is 82, Bike Score is 54, and Transit Score is 40.
The property is located at 121 Almy St in Fall River, Massachusetts, within walking distance of the MBTA commuter rail. Shopping, restaurants, schools, public transportation, and major highways are also nearby, with rail service providing access to Boston and surrounding communities. Walk Score is 82, Bike Score is 54, and Transit Score is 40.
Key Highlights
- Three units, each with 3 bedrooms and 1 bathroom
- Built in 1912 at 121 Almy St, Fall River, MA 02720
- Basement includes individual storage areas for each unit
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
$45,035
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
6.43%
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%
$900,700
$900.7K
Cap Rate 7%
$643,357
$643.4K
Cap Rate 9%
$500,389
$500.4K
Market Conditions
NOI Build-Up for 2,520 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
$69.6K $27.60/SF
− Vacancy
−$5.2K −$2.07/SF
EGI
$64.3K $25.53/SF
− OpEx
−$19.3K −$7.66/SF
NOI
$45.0K $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 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%
$900,700
Cap Rate 7%
$643,357
Cap Rate 9%
$500,389
Alternative Uses
Best Use
Multifamily LT 5
$643.4K
$562.9K – $750.6K
NOI $45,035 @ 7.0% cap · market cap 6.43%
Second Best
Apartment 5plus
$597.9K
$523.2K – $697.6K
NOI $41,853 @ 7.0% cap · market cap 5.98%
Theoretical Best
Office A
$1.53M
$1.34M – $1.79M
NOI $107,425 @ 7.0% cap · market cap 15.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
3
Residential units
Location Intelligence
Trade Area within ½ mile
1,056
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?
Triplex - Well-maintained rental property with matching three-bedroom units, private basement storage, and access to commuter rail.
Where is this triplex located?
The property is located at 121 Almy St Fall River, MA.
What is the asking price?
The asking price for this property is $699,900.
What are key features of this property?
This property features: Three units, each with 3 bedrooms and 1 bathroom; Built in 1912 at 121 Almy St, Fall River, MA 02720; Basement includes individual storage areas for each unit
