8-Unit Apartment
62 Morton St, Fall River, MA 02720
For Sale
$1,379,000
Residents pay their own utility costs, with electric service separately metered and individual heating systems in each apartment.
Property Size5,570 SF
Price / SF$247.58
Days on Market14
Property Features for 62 Morton St
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Net Operating Income
Units
Unit Mix
Multifamily Units
Individually Metered Utilities
Additional Details
Gross Income
Tenant in Place
Building Details
Year Built
Buildings
Listing Agency:
The Agency Boston
(617) 420-9033
Listed By:
Adam Stivaletta
(781) 844-2149
Source:
Lockandkeyre
Added: Oct 27
Changed: Nov 9
Last Checked: Nov 8 at 6:42AM
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 The Agency Boston
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Investment Insights
Based on property information with market context.
Built in 1900, this 5,570-square-foot apartment property contains eight units: five two-bedroom apartments, two three-bedroom apartments and one one-bedroom apartment, totaling 17 bedrooms. Each apartment has separate electric metering and its own heating system, and residents cover their utility expenses. A roof replacement was completed around 2019, and off-street parking serves approximately six to eight vehicles.
The property has established residential occupancy, with most apartments held by tenants at will. Some residents have not had rent increases since 2024.
The property has established residential occupancy, with most apartments held by tenants at will. Some residents have not had rent increases since 2024.
Key Highlights
- Eight apartments with a total of 17 bedrooms
- Unit mix: five 2‑bedroom, two 3‑bedroom and one 1‑bedroom apartments
- 5,570 square feet; built in 1900
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$92,508
Cap Rate
6.71%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,850,160
$1.9M
Cap Rate 7%
$1,321,543
$1.3M
Cap Rate 9%
$1,027,867
$1.0M
Market Conditions
NOI Build-Up for 5,570 SF
Gross rent
$180.5K $32.40/SF
− Vacancy
−$12.3K −$2.20/SF
EGI
$168.2K $30.20/SF
− OpEx
−$75.7K −$13.59/SF
NOI
$92.5K $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%
$1,850,160
Cap Rate 7%
$1,321,543
Cap Rate 9%
$1,027,867
Alternative Uses
Best Use
Apartment 5plus
$1.32M
$1.16M – $1.54M
NOI $92,508 @ 7.0% cap · market cap 6.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$3.39M
$2.97M – $3.96M
NOI $237,442 @ 7.0% cap · market cap 17.22%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
8
Residential units
Location Intelligence
Trade Area within ½ mile
726
Businesses Nearby
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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
$361,800
Median Home Value
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Market
Average Price Trend$/SF for Apartment buildings in Fall River, MA
Properties on Market for Apartment buildings in Fall River
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Apartment building - Residents pay their own utility costs, with electric service separately metered and individual heating systems in each apartment.
Where is this apartment building located?
The property is located at 62 Morton St Fall River, MA.
What is the asking price?
The asking price for this property is $1,379,000.
What are key features of this property?
This property features: Eight apartments with a total of 17 bedrooms; Unit mix: five 2‑bedroom, two 3‑bedroom and one 1‑bedroom apartments; 5,570 square feet; built in 1900
