Remodeled Four-Unit
For Sale
$649,000
224 Tripp St, Fall River, MA 02724
Updated interiors and individually metered electric provide a practical multifamily configuration.
Property Size2,184 SF
Price / SF$297.16
Days on Market41
Property Features for 224 Tripp St
General Information
Standard status
Active
Size
2,184 SF
Property subtype
Residential Income
Site & Location
Highway Access
Yes
Utilities to Site
Yes
Units
Unit Mix
4 x 1BR
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$6,228
Building Details
Buildings
1
Listing Agency:
eXp Realty LLC
(888) 854-7493
Listed By:
Mario Pereira
(508) 951-6600
Source:
Exprealty
Added: Aug 26
Changed: Oct 1
Last Checked: Oct 4 at 12:59PM
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 eXp Realty LLC
Investment Insights
Based on property information with market context.
This 2,184-square-foot quadplex contains four one-bedroom residences in a building constructed in 1900. Since 2020, each unit has received updates that include new flooring, kitchens, and bathrooms. Electric service is separately metered for each residence, supporting distinct utility tracking across the property.
The property also includes a sizable yard and is positioned near shopping, restaurants, schools, and major highway access. The zoning designation is IND. The third floor has been identified as an area with potential for additional living space, subject to buyer and buyer’s agent due diligence.
The property also includes a sizable yard and is positioned near shopping, restaurants, schools, and major highway access. The zoning designation is IND. The third floor has been identified as an area with potential for additional living space, subject to buyer and buyer’s agent due diligence.
Key Highlights
- Four one‑bedroom units in a quadplex configuration
- 2,184 square feet of total living space
- Units updated since 2020 with new flooring, kitchens, and bathrooms
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$39,030
Cap Rate
6.01%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,600
$780.6K
Cap Rate 7%
$557,571
$557.6K
Cap Rate 9%
$433,667
$433.7K
Market Conditions
NOI Build-Up for 2,184 SF
Gross rent
$60.3K $27.60/SF
− Vacancy
−$4.5K −$2.07/SF
EGI
$55.8K $25.53/SF
− OpEx
−$16.7K −$7.66/SF
NOI
$39.0K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$780,600
Cap Rate 7%
$557,571
Cap Rate 9%
$433,667
Alternative Uses
Best Use
Multifamily LT 5
$557.6K
$487.9K – $650.5K
NOI $39,030 @ 7.0% cap · market cap 6.01%
Second Best
Apartment 5plus
$518.2K
$453.4K – $604.5K
NOI $36,272 @ 7.0% cap · market cap 5.59%
Theoretical Best
Office A
$1.33M
$1.16M – $1.55M
NOI $93,101 @ 7.0% cap · market cap 14.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Yes
Highway access
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
671
Businesses Nearby
Explore this area
Business Placement
Demographics for 02724, MA
18,050
Population
8,808
Households
2
Avg Household Size
38
Median Age
15%
College-Educated
76%
High-School Grad
1.8 sq mi
ZIP Area
10,028
Density / Sq Mi
$49,809
Median Household Income
$42,334
Median Earnings
$1,105
Median Rent
$368,300
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Multifamily in Northeast region
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Frequently Asked Questions
What type of property is this?
Quadplex - Updated interiors and individually metered electric provide a practical multifamily configuration.
Where is this quadplex located?
The property is located at 224 Tripp St Fall River, MA.
What is the asking price?
The asking price for this property is $649,000.
What are key features of this property?
This property features: Four one‑bedroom units in a quadplex configuration; 2,184 square feet of total living space; Units updated since 2020 with new flooring, kitchens, and bathrooms
