Bay-View
For Sale
$679,000
23-27 Ash St, Fall River, MA 02724
Three spacious residential units with separate utilities, off-street parking, and shared laundry facilities.
Property Size3,137 SF
Price / SF$216.45
Days on Market67
Property Features for 23-27 Ash St
General Information
Standard status
Active
Size
3,137 SF
Total Parking Spaces
2
Property subtype
Multi-Family
Zoning
A-2
Net Operating Income
$26,400
Taxes and HOA fees
Annual Taxes
$7,128
Building Details
Building Size
3,137 SF
Year Built
1900
Stories
3
Listing Agency:
546 Realty Group
(978) 578-5013
Listed By:
Chris Bernier
(978) 578-5013
Source:
Churchillprop
Added: Jun 26
Changed: Aug 29
Last Checked: Aug 30 at 2:19PM
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 546 Realty Group
Investment Insights
Based on property information with market context.
This 3,137-square-foot triplex, built in 1900, contains three residential units, each with three bedrooms, one full bathroom, a large kitchen, and a spacious living room. Recent updates, separated utilities, two off-street parking spaces, and a fully fenced backyard support practical ownership and tenant use. An on-site coin-operated washer and dryer adds a shared laundry amenity.
The property has bay views and is positioned near local parks, waterfront trails, shopping, and dining. Access to Routes 195 and 24, the Commuter Rail, and local T-Stations is also noted. The property is zoned A-2 and located at 23-27 Ash St in Fall River, Massachusetts.
The property has bay views and is positioned near local parks, waterfront trails, shopping, and dining. Access to Routes 195 and 24, the Commuter Rail, and local T-Stations is also noted. The property is zoned A-2 and located at 23-27 Ash St in Fall River, Massachusetts.
Key Highlights
- 3,137 SF triplex with three residential units
- Each unit includes 3 bedrooms and 1 full bath
- Built in 1900 with recent updates
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$56,061
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.26%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,121,220
$1.1M
Cap Rate 7%
$800,871
$800.9K
Cap Rate 9%
$622,900
$622.9K
Market Conditions
NOI Build-Up for 3,137 SF
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.
Gross rent
$86.6K $27.60/SF
− Vacancy
−$6.5K −$2.07/SF
EGI
$80.1K $25.53/SF
− OpEx
−$24.0K −$7.66/SF
NOI
$56.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$1,121,220
Cap Rate 7%
$800,871
Cap Rate 9%
$622,900
Alternative Uses
Best Use
Multifamily LT 5
$800.9K
$700.8K – $934.4K
NOI $56,061 @ 7.0% cap · market cap 8.26%
Second Best
Apartment 5plus
$744.3K
$651.3K – $868.3K
NOI $52,100 @ 7.0% cap · market cap 7.67%
Theoretical Best
Office A
$1.91M
$1.67M – $2.23M
NOI $133,727 @ 7.0% cap · market cap 19.69%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
1,037
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
Market
Vacancy Rate% for Multifamily in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Triplex - Three spacious residential units with separate utilities, off-street parking, and shared laundry facilities.
Where is this triplex located?
The property is located at 23-27 Ash St Fall River, MA.
What is the asking price?
The asking price for this property is $679,000.
What are key features of this property?
This property features: 3,137 SF triplex with three residential units; Each unit includes 3 bedrooms and 1 full bath; Built in 1900 with recent updates
