Four-Level 8-Unit Apartment
144 Choate Street Fall River, MA 02723
144 Choate Street, Fall River, MA, 02723
$1,500,000
For Sale
$1,500,000
Well-maintained four-level multifamily with four 3-bedroom and four 2-bedroom units, individually metered electric, and off-street parking.
Property Size7,686 SF
Price / SF$195.16
Days on Market153
Property Features for 144 Choate Street
General Information
- Standard status
- Active
- Size
- 7,686 SF
- Property subtype
- Multi-family / 5-9 Family
Building Details
- Year Built
- 1900
Listing agency
Paiva Real Estate Services, LLC
(508) 970-5612
Listed by
Christopher J. Paiva · License #9532605
(508) 970-5612
Source
Compass
Added: Feb 19 Updated: Jul 21 at 1:55PM Checked: Jul 22 at 7:28AM
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 Paiva Real Estate Services, LLC
Investment Insights
Based on property information with market context.
This well-maintained four-level 8-unit apartment building offers four 3-bedroom units and four 2-bedroom units. Updates are reported throughout, including improvements to common areas, kitchens, and baths. Heating is provided by baseboard units, and each apartment has individually metered electric. Off-street parking is available for eight vehicles. Prior to closing, the seller will install a new aluminum fire escape.
The property is located with convenient access to major highway routes, and it is also described as being near parks and schools.
The current NOI is stated to exceed $117,000, with additional upside potential noted by the seller.
The property is located with convenient access to major highway routes, and it is also described as being near parks and schools.
The current NOI is stated to exceed $117,000, with additional upside potential noted by the seller.
Key Highlights
- 8‑unit multifamily in Fall River with four 3‑bedroom units and four 2‑bedroom units across four levels
- Each unit has individually metered electric and baseboard heating
- Updates reported in common areas, kitchens, and baths
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- 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.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $249.0k | $32.40 |
| − Vacancy | −$16.9k | −$2.20 |
| EGI | $232.1k | $30.20 |
| − OpEx | −$104.4k | −$13.59 |
| NOI | $127.7k | $16.61 |
7,686 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.82M
$1.60M – $2.13M
NOI $127,651 @ 7.0% cap · market cap 8.51%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.10M – $5.46M
NOI $327,645 @ 7.0% cap · market cap 21.84%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Well-maintained four-level multifamily with four 3-bedroom and four 2-bedroom units, individually metered electric, and off-street parking.
Where is this apartment building located?
The property is located at 144 Choate Street Fall River, MA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 8‑unit multifamily in Fall River with four 3‑bedroom units and four 2‑bedroom units across four levels; Each unit has individually metered electric and baseboard heating; Updates reported in common areas, kitchens, and baths
