Fully Leased Three-Unit
199 Franklin Street Fall River, MA 02720
199 Franklin Street, Fall River, MA, 02720
$639,999
For Sale
$639,999
Three spacious 3-bedroom, 1-bath units are leased as tenants-at-will, with separate gas and electric utilities and 7 off-street parking spaces.
Property Size3,115 SF
Price / SF$205.46
Days on Market43
Property Features for 199 Franklin Street
General Information
- Standard status
- Active
- Size
- 3,115 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
United Brokers
Listed by
Mission Impossible Team
(781) 933-7200
Source
Jmulkerinrealty
Added: Jun 9 Updated: Jul 20 at 9:14PM Checked: Jul 20 at 9:14PM
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 United Brokers
Investment Insights
Based on property information with market context.
This fully occupied three-family offers three spacious 3-bedroom, 1-bath residences, each currently leased with tenants-at-will. The property includes separate gas and electric utilities, helping to keep operating expenses more contained and straightforward to manage. Off-street parking is also provided with 7 spaces for tenant convenience.
Located at 199 Franklin Street in Fall River, the home offers convenient access to downtown, major highways, shopping, and local employers. The area is also benefiting from ongoing investment connected to the South Coast Rail commuter service, waterfront redevelopment, and Route 79 corridor improvements.
For buyers seeking either a turnkey multifamily addition or an owner-occupant setup, the current configuration provides flexibility for future rent adjustments while maintaining a fully leased status.
Located at 199 Franklin Street in Fall River, the home offers convenient access to downtown, major highways, shopping, and local employers. The area is also benefiting from ongoing investment connected to the South Coast Rail commuter service, waterfront redevelopment, and Route 79 corridor improvements.
For buyers seeking either a turnkey multifamily addition or an owner-occupant setup, the current configuration provides flexibility for future rent adjustments while maintaining a fully leased status.
Key Highlights
- Fully occupied 3‑family with three spacious 3‑bedroom, 1‑bath units
- All units leased as tenants‑at‑will
- Separate gas and electric utilities for the property
Local Financial Insights For Multifamily LT 5
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 | $86.0k | $27.60 |
| − Vacancy | −$6.4k | −$2.07 |
| EGI | $79.5k | $25.53 |
| − OpEx | −$23.9k | −$7.66 |
| NOI | $55.7k | $17.87 |
3,115 SF · lease $27.60/SF/yr · vacancy 7.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$795.3K
$695.9K – $927.8K
NOI $55,668 @ 7.0% cap · market cap 8.70%
Second Best
Apartment 5plus
$739.1K
$646.7K – $862.3K
NOI $51,735 @ 7.0% cap · market cap 8.08%
Theoretical Best
Office A
$1.90M
$1.66M – $2.21M
NOI $132,789 @ 7.0% cap · market cap 20.75%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Triplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Triplex - Three spacious 3-bedroom, 1-bath units are leased as tenants-at-will, with separate gas and electric utilities and 7 off-street parking spaces.
Where is this triplex located?
The property is located at 199 Franklin Street Fall River, MA.
What is the asking price?
The asking price for this property is $639,999.
What are key features of this property?
This property features: Fully occupied 3‑family with three spacious 3‑bedroom, 1‑bath units; All units leased as tenants‑at‑will; Separate gas and electric utilities for the property
