Six-Unit Multifamily
For Sale
$1,200,000
516-520 Third St, Fall River, MA 02721
Turnkey six-unit multifamily property with all units occupied and recent exterior siding and electrical updates.
Property Size6,282 SF
Price / SF$191.02
Days on Market183
Property Features for 516-520 Third St
General Information
Standard status
Active
Size
6,282 SF
Total Parking Spaces
4
Property subtype
Multi-Family
Zoning
R-6
Occupancy
100%
Net Operating Income
$111,600
Additional Details
Business Included
Yes
Highway Access
Yes
Multifamily Units
6
Taxes and HOA fees
Annual Taxes
$8,000
Building Details
Building Size
6,282 SF
Year Built
1900
Stories
10
Tenancy
Multi
Listing Agency:
Vicente Realty, LLC
(508) 944-3144
Listed By:
Stephanie Barreau · License #9579106
(617) 953-5827
Source:
Churchillprop
Added: May 2
Changed: Oct 31
Last Checked: Oct 30 at 12:36PM
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
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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
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$104,333
Cap Rate
8.69%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,086,660
$2.1M
Cap Rate 7%
$1,490,471
$1.5M
Cap Rate 9%
$1,159,256
$1.2M
Market Conditions
NOI Build-Up for 6,282 SF
Gross rent
$203.5K $32.40/SF
− Vacancy
−$13.8K −$2.20/SF
EGI
$189.7K $30.20/SF
− OpEx
−$85.4K −$13.59/SF
NOI
$104.3K $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 Rate 5%
$2,086,660
Cap Rate 7%
$1,490,471
Cap Rate 9%
$1,159,256
Alternative Uses
Best Use
Apartment 5plus
$1.49M
$1.30M – $1.74M
NOI $104,333 @ 7.0% cap · market cap 8.69%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.83M
$3.35M – $4.46M
NOI $267,794 @ 7.0% cap · market cap 22.32%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Lease Details
6
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Turnkey business
Opportunity
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
2,781
Businesses Nearby
Explore this area
Business Placement
Demographics for 02721, MA
28,075
Population
12,358
Households
2.3
Avg Household Size
38
Median Age
15%
College-Educated
73%
High-School Grad
4.0 sq mi
ZIP Area
7,019
Density / Sq Mi
$50,666
Median Household Income
$40,315
Median Earnings
$1,010
Median Rent
$362,800
Median Home Value
Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
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 St Fall River, MA.
What is the asking price?
The asking price for this property is $1,200,000.
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
