Six-Unit Multifamily
516-520 Third Street Fall River, MA 02721
516-520 Third Street, Fall River, MA, 02721
$1,300,000
For Sale
$1,300,000
Turnkey six-unit multifamily property with all units occupied and recent exterior siding and electrical updates.
Property Size6,282 SF
Price / SF$206.94
Days on Market94
Property Features for 516-520 Third Street
General Information
- Standard status
- Active
- Size
- 6,282 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1900
Listing agency
Vicente Realty,LLC
Listed by
Stephanie Barreau
(413) 584-2900
Source
Mapleandmainrealty
Added: Apr 19 Updated: Jul 21 at 7:41AM Checked: Jul 21 at 7:41AM
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 Vicente Realty,LLC
Investment Insights
Based on property information with market context.
This well-maintained six-unit multifamily property is offered as a turnkey investment, with all units currently occupied. The building has undergone recent renovations, including new exterior siding and updated electrical systems, supporting reduced maintenance and long-term durability.
Located at 516–520 Third Street in Fall River, the property is near local parks, major highways, and shopping and other amenities.
With consistent rental income from day one and a recently refreshed exterior and electrical infrastructure, the asset is positioned as a stable addition to a residential income portfolio.
Located at 516–520 Third Street in Fall River, the property is near local parks, major highways, and shopping and other amenities.
With consistent rental income from day one and a recently refreshed exterior and electrical infrastructure, the asset is positioned as a stable addition to a residential income portfolio.
Key Highlights
- 6‑unit multifamily at 516‑520 Third Street, Fall River, with all units currently occupied
- Recently renovated exterior with new siding
- Electrical systems updated, supporting reduced maintenance
Local Financial Insights For Apartment 5plus
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 | $203.5k | $32.40 |
| − Vacancy | −$13.8k | −$2.20 |
| EGI | $189.7k | $30.20 |
| − OpEx | −$85.4k | −$13.59 |
| NOI | $104.3k | $16.61 |
6,282 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,333 @ 7.0% cap · market cap 8.03%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,794 @ 7.0% cap · market cap 20.60%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
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FAQs
What type of property is this?
Apartment building - Turnkey six-unit multifamily property with all units occupied and recent exterior siding and electrical updates.
Where is this apartment building located?
The property is located at 516-520 Third Street Fall River, MA.
What is the asking price?
The asking price for this property is $1,300,000.
What are key features of this property?
This property features: 6‑unit multifamily at 516‑520 Third Street, Fall River, with all units currently occupied; Recently renovated exterior with new siding; Electrical systems updated, supporting reduced maintenance
