Three-Unit Multifamily
For Sale
$699,995
16 Fales Street, Central Falls, RI 02863
Three apartments combine owner-occupant flexibility with the potential for rental income from the other two units.
Property Size3,924 SF
Price / SF$178.39
Days on Market63
Property Features for 16 Fales Street
General Information
Standard status
Active
Size
3,924 SF
Total Parking Spaces
2
Property subtype
Multi Family
Site & Location
Highway Access
Yes
Public Transit
Yes
Units
Unit Mix
first-floor: 3 bedrooms, second-floor: 2 bedrooms, third-floor: 2 bedrooms
Multifamily Units
3
Taxes and HOA fees
Annual Taxes
$7,560
Amenities
fenced backyard
partial basement with full bathroom
separate washer and dryer hookups
Building Details
Building Size
3,924 SF
Year Built
1938
Buildings
1
Stories
3
Listing Agency:
Citylight Homes
Listed By:
Saul Sanchez · License #RES.0208667
(617) 594-7634
Source:
Baker21
Added: Aug 25
Changed: Oct 26
Last Checked: Oct 26 at 2:50PM
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 Citylight Homes
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Investment Insights
Based on property information with market context.
This 3,924-square-foot, three-unit property was built in 1938. The first-floor apartment has three bedrooms; the second- and third-floor apartments each have two. Original double parlors, hardwood flooring, and natural wood details are found throughout. The partially finished basement includes a full bathroom and separate washer and dryer hookups for each unit.
Outdoor features include a fenced backyard with a grassy area, a detached two-car garage, and off-street parking. At 16 Fales Street in Central Falls, the property has access to restaurants, schools, public transportation, and major highways. The property is being sold as-is.
Outdoor features include a fenced backyard with a grassy area, a detached two-car garage, and off-street parking. At 16 Fales Street in Central Falls, the property has access to restaurants, schools, public transportation, and major highways. The property is being sold as-is.
Key Highlights
- Three apartments: one three‑bedroom unit and two two‑bedroom units
- 3,924 square feet; built in 1938
- Original double parlors, hardwood floors, and natural wood details
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$51,854
Cap Rate
7.41%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,080
$1.0M
Cap Rate 7%
$740,771
$740.8K
Cap Rate 9%
$576,156
$576.2K
Market Conditions
NOI Build-Up for 3,924 SF
Gross rent
$100.3K $25.56/SF
− Vacancy
−$6.0K −$1.53/SF
EGI
$94.3K $24.03/SF
− OpEx
−$42.4K −$10.81/SF
NOI
$51.9K $13.21/SF
Area
Providence County, RI
Vacancy
6.00%
Lease Rate
$25.56 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,037,080
Cap Rate 7%
$740,771
Cap Rate 9%
$576,156
Alternative Uses
Best Use
Multifamily LT 5
$933.4K
$816.7K – $1.09M
NOI $65,336 @ 7.0% cap · market cap 9.33%
Second Best
Apartment 5plus
$740.8K
$648.2K – $864.2K
NOI $51,854 @ 7.0% cap · market cap 7.41%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Lease Details
3
Residential units
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
1,239
Businesses Nearby
Explore this area
Business Placement
Demographics for 02863, RI
22,596
Population
8,341
Households
2.7
Avg Household Size
32
Median Age
12%
College-Educated
60%
High-School Grad
1.2 sq mi
ZIP Area
18,830
Density / Sq Mi
$45,921
Median Household Income
$30,050
Median Earnings
$1,118
Median Rent
$300,500
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Triplex - Three apartments combine owner-occupant flexibility with the potential for rental income from the other two units.
Where is this triplex located?
The property is located at 16 Fales Street Central Falls, RI.
What is the asking price?
The asking price for this property is $699,995.
What are key features of this property?
This property features: Three apartments: one three‑bedroom unit and two two‑bedroom units; 3,924 square feet; built in 1938; Original double parlors, hardwood floors, and natural wood details
