Four-Level 8-Unit Apartment
144 Choate St. Fall River, MA 02723
144 Choate St., Fall River, MA, 02723
$1,475,000
For Sale
$1,475,000
Well-maintained four-level property with four 3-bedroom and four 2-bedroom units, updated kitchens and baths, plus off-street parking.
Property Size7,686 SF
Price / SF$191.91
Days on Market57
Property Features for 144 Choate St.
General Information
- Standard status
- Active
- Size
- 7,686 SF
- Property subtype
- 5-9 Family
Building Details
- Year Built
- 1900
Listing agency
Paiva Real Estate Services, LLC
(774) 488-1427
Listed by
Christopher J. Paiva
(774) 488-1427
Source
Lockandkeyre
Added: May 26 Updated: Jul 21 at 2:15PM Checked: Jul 21 at 2:15PM
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 apartment building contains eight units: four 3-bedroom units and four 2-bedroom units. Many units have received updates, including improvements to common areas, kitchens, and baths. The building is served by baseboard heating, with individually metered electric in each unit. Off-street parking is provided for eight vehicles, and the seller has installed a new aluminum fire escape.
The property is located near highway access, parks, and schools, supporting everyday tenant convenience.
Current NOI exceeds $117K, according to the seller, with additional upside potential mentioned as part of the offering.
The property is located near highway access, parks, and schools, supporting everyday tenant convenience.
Current NOI exceeds $117K, according to the seller, with additional upside potential mentioned as part of the offering.
Key Highlights
- 8‑unit, four‑level income property built in 1900 with four 3‑bedroom units and four 2‑bedroom units
- Updates reported in individual units, including improvements to kitchens and baths, plus common‑area updates
- Each unit has baseboard heating and individually metered electric
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 8.65%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$4.68M
$4.10M – $5.46M
NOI $327,645 @ 7.0% cap · market cap 22.21%
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 property with four 3-bedroom and four 2-bedroom units, updated kitchens and baths, plus off-street parking.
Where is this apartment building located?
The property is located at 144 Choate St. Fall River, MA.
What is the asking price?
The asking price for this property is $1,475,000.
What are key features of this property?
This property features: 8‑unit, four‑level income property built in 1900 with four 3‑bedroom units and four 2‑bedroom units; Updates reported in individual units, including improvements to kitchens and baths, plus common‑area updates; Each unit has baseboard heating and individually metered electric
