Three-Story Multifamily
For Sale
$675,000
47 Boutwell, Fall River, MA 02720
Three-story multifamily building with six 2-bedroom, 1-bath units offered for sale.
Property Size2,917 SF
Days on Market19
Property Features for 47 Boutwell
General Information
Standard status
Active
Size
2,917 SF
Property subtype
Investment
Additional Details
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,077
Building Details
Building Size
2,917 SF
Year Built
1900
Stories
5
Units
6
Listing Agency:
Horvath & Tremblay
(617) 688-9909
Listed By:
Spencer Smith · License #9576051
(617) 688-9909
Source:
Elliman
Added: Jul 25
Changed: Aug 9
Last Checked: Aug 11 at 10:53AM
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 Horvath & Tremblay
Investment Insights
Based on property information with market context.
This three-story multifamily property offers six residential units. Each unit is configured as a 2-bedroom, 1-bath layout, providing a consistent floor plan across the building.
The property is offered for sale in Fall River, Massachusetts at 47 Boutwell Street. Walkability is rated very walkable, with some transit service indicated.
As an income-focused asset, the building’s total unit count and uniform unit mix may be attractive for buyers seeking straightforward residential operations.
The property is offered for sale in Fall River, Massachusetts at 47 Boutwell Street. Walkability is rated very walkable, with some transit service indicated.
As an income-focused asset, the building’s total unit count and uniform unit mix may be attractive for buyers seeking straightforward residential operations.
Key Highlights
- Three‑story multifamily building with six 2‑bedroom, 1‑bath units
- Built in 1900
- Fall River, MA address at 47 Boutwell Street
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
$48,446
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
7.18%
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%
$968,920
$968.9K
Cap Rate 7%
$692,086
$692.1K
Cap Rate 9%
$538,289
$538.3K
Market Conditions
NOI Build-Up for 2,917 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
$94.5K $32.40/SF
− Vacancy
−$6.4K −$2.20/SF
EGI
$88.1K $30.20/SF
− OpEx
−$39.6K −$13.59/SF
NOI
$48.4K $16.61/SF
Area
Bristol County, MA
Vacancy
6.80%
Lease Rate
$32.40 /SF/Yr
Expense Ratio
45.00%
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%
$968,920
Cap Rate 7%
$692,086
Cap Rate 9%
$538,289
Alternative Uses
Best Use
Apartment 5plus
$692.1K
$605.6K – $807.4K
NOI $48,446 @ 7.0% cap · market cap 7.18%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.78M
$1.55M – $2.07M
NOI $124,348 @ 7.0% cap · market cap 18.42%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
6
Residential units
Location Intelligence
Trade Area within ½ mile
974
Businesses Nearby
Explore this area
Business Placement
Demographics for 02720, MA
31,209
Population
14,940
Households
2.1
Avg Household Size
41
Median Age
21%
College-Educated
81%
High-School Grad
13.2 sq mi
ZIP Area
2,364
Density / Sq Mi
$62,907
Median Household Income
$45,199
Median Earnings
$1,177
Median Rent
$361,800
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?
Apartment building - Three-story multifamily building with six 2-bedroom, 1-bath units offered for sale.
Where is this apartment building located?
The property is located at 47 Boutwell Fall River, MA.
What is the asking price?
The asking price for this property is $675,000.
What are key features of this property?
This property features: Three‑story multifamily building with six 2‑bedroom, 1‑bath units; Built in 1900; Fall River, MA address at 47 Boutwell Street
