12-Unit Residential Income
526 3RD Street Fall River, MA 02721
526 3RD Street, Fall River, MA, 02721
$2,500,000
For Sale
$2,500,000
Built in 1985, this 12-unit property features single-level 3-bedroom homes with in-unit laundry.
Property Size12,012 SF
Price / SF$208.13
Days on Market323
Property Features for 526 3RD Street
General Information
- Standard status
- Active
- Size
- 12,012 SF
- Property subtype
- Multi-family
Building Details
- Year Built
- 1985
Listing agency
Lock and Key Realty Inc.
Listed by
Patriot Living Group
(617) 262-6200
Source
Cabotandcompany
Added: Sep 2, 2025 Updated: Jul 21 at 1:14AM Checked: Jul 21 at 7:16AM
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 Lock and Key Realty Inc.
Investment Insights
Based on property information with market context.
This 12-unit residential income building was built in 1985 and is offered with the option to keep the units as rentals or sell units individually. Each unit is configured as a spacious 3-bedroom, single-level condominium with in-unit laundry.
The units are separately served with a gas-powered forced hot air heating system, a gas hot water heater, and individual electric service. The building owner meter covers common areas and exterior needs. The ownership structure includes full control of the HOA, and most units are currently rented with a few recent vacancies.
The property is located at 526 3RD Street in Fall River, MA 02721.
The units are separately served with a gas-powered forced hot air heating system, a gas hot water heater, and individual electric service. The building owner meter covers common areas and exterior needs. The ownership structure includes full control of the HOA, and most units are currently rented with a few recent vacancies.
The property is located at 526 3RD Street in Fall River, MA 02721.
Key Highlights
- 12‑unit building built in 1985 with single‑level 3‑bedroom condominium‑style units and in‑unit laundry
- Most units currently rented with a few recent vacancies, providing an existing rental income base
- Each unit has its own gas‑powered forced hot air heating system and gas hot water heater
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 | $389.2k | $32.40 |
| − Vacancy | −$26.5k | −$2.20 |
| EGI | $362.7k | $30.20 |
| − OpEx | −$163.2k | −$13.59 |
| NOI | $199.5k | $16.61 |
12,012 SF · lease $32.40/SF/yr · vacancy 6.80% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$2.85M
$2.49M – $3.32M
NOI $199,498 @ 7.0% cap · market cap 7.98%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$7.32M
$6.40M – $8.53M
NOI $512,057 @ 7.0% cap · market cap 20.48%
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 - Built in 1985, this 12-unit property features single-level 3-bedroom homes with in-unit laundry.
Where is this apartment building located?
The property is located at 526 3RD Street Fall River, MA.
What is the asking price?
The asking price for this property is $2,500,000.
What are key features of this property?
This property features: 12‑unit building built in 1985 with single‑level 3‑bedroom condominium‑style units and in‑unit laundry; Most units currently rented with a few recent vacancies, providing an existing rental income base; Each unit has its own gas‑powered forced hot air heating system and gas hot water heater
