Four-Level 8-Unit Apartment
144 Choate Street Fall River, MA 02723
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 Market159
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
Changed: Jul 21
Last Checked: Jul 27 at 11:50AM
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
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 authorities.
Property Analytics
Location Intelligence
Current Use
Frequently Asked Questions
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
