5-Unit Fully Renovated Apartment
New
For Sale
$1,995,000
683 Main St, Falmouth, MA 02540
Fully renovated five-unit apartment building with new plumbing and electrical, plus basement shared laundry.
Property Size3,697 SF
Price / SF$539.63
Days on Market3
Property Features for 683 Main St
General Information
Standard status
Active
Size
3,697 SF
Property subtype
Multifamily
Units
Unit Mix
4 x 1BR/1BA, 1 x 2BR/1BA
Multifamily Units
5
Amenities
shared laundry
Building Details
Building Size
3,697 SF
Year Built
1983
Listing Agency:
Cutter Luxe Living LLC
(774) 240-9174
Listed By:
Cutter Luxe Team
Source:
Classifiedrealtygroup
Added: Jul 29
Changed: Jul 30
Last Checked: Jul 31 at 2:57AM
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 Cutter Luxe Living LLC
Investment Insights
Based on property information with market context.
683 Main St is a fully renovated five-unit multifamily property in downtown Falmouth. The building is arranged with four mirrored 1-bedroom/1-bath units across the first and second floors, and one spacious 2-bedroom/1-bath unit at the basement level. The gross building area is 3,697 SF.
Improvements include all new plumbing and electrical throughout. The basement also provides shared laundry for the building’s tenants. Two of the second-floor units are identified as Medium Income units, while the remaining three units are described as unrestricted market rate.
Engineered and permitted plans for the five-unit configuration are complete (Lala Associates Engineers LLC, Project #24161). The property is walkable to downtown Falmouth’s shops, restaurants, and popular nearby beaches. Delivery is described as 100% vacant or tenanted.
Improvements include all new plumbing and electrical throughout. The basement also provides shared laundry for the building’s tenants. Two of the second-floor units are identified as Medium Income units, while the remaining three units are described as unrestricted market rate.
Engineered and permitted plans for the five-unit configuration are complete (Lala Associates Engineers LLC, Project #24161). The property is walkable to downtown Falmouth’s shops, restaurants, and popular nearby beaches. Delivery is described as 100% vacant or tenanted.
Key Highlights
- 3,697 SF gross building area in a five‑unit configuration
- Four mirrored 1‑bedroom/1‑bath units on the first and second floors
- One 2‑bedroom/1‑bath unit located at the basement level
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 | $138.9k | $37.56 |
| − Vacancy | −$4.2k | −$1.13 |
| EGI | $134.7k | $36.43 |
| − OpEx | −$60.6k | −$16.39 |
| NOI | $74.1k | $20.04 |
3,697 SF · lease $37.56/SF/yr · vacancy 3.00% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$1.06M
$926.0K – $1.23M
NOI $74,081 @ 7.0% cap · market cap 3.71%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$1.51M
$1.32M – $1.76M
NOI $105,459 @ 7.0% cap · market cap 5.29%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
5
Residential units
Location Intelligence
Trade Area within ½ mile
829
Businesses Nearby
Explore this area
Business Placement
Demographics for 02540, MA
8,450
Population
6,200
Households
1.4
Avg Household Size
61
Median Age
59%
College-Educated
94%
High-School Grad
11.0 sq mi
ZIP Area
768
Density / Sq Mi
$88,266
Median Household Income
$52,243
Median Earnings
$1,328
Median Rent
$756,300
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 - Fully renovated five-unit apartment building with new plumbing and electrical, plus basement shared laundry.
Where is this apartment building located?
The property is located at 683 Main St Falmouth, MA.
What is the asking price?
The asking price for this property is $1,995,000.
What are key features of this property?
This property features: 3,697 SF gross building area in a five‑unit configuration; Four mirrored 1‑bedroom/1‑bath units on the first and second floors; One 2‑bedroom/1‑bath unit located at the basement level
