Updated Two-Family
For Sale
$669,000
74 California Street, Fall River, MA 02723
Two-family home with spacious driveway, detached garage, and updated second and third levels, delivered vacant on upper floors.
Property Size2,391 SF
Price / SF$279.80
Days on Market100
Property Features for 74 California Street
General Information
Standard status
Active
Size
2,391 SF
Total Parking Spaces
8
Property subtype
Multi-Family
Zoning
S
Additional Details
Multifamily Units
2
Taxes and HOA fees
Annual Taxes
$4,839
Building Details
Building Size
2,391 SF
Year Built
1925
Stories
2
Listing Agency:
RE/MAX Vantage
(508) 999-4424
Listed By:
Melisa Gagne · License #9551506
(508) 264-6905
Source:
Churchillprop
Added: Jul 15
Changed: Oct 21
Last Checked: Oct 20 at 6:23PM
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 RE/MAX Vantage
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Investment Insights
Based on property information with market context.
This meticulously maintained two-family residence shows pride of ownership throughout. The property includes a spacious driveway and a detached garage, along with a well-cared-for interior and exterior. The second and third levels have been extensively updated, and the finished third floor adds additional rooms and flexible living space.
The first-floor unit is currently tenant-at-will and is scheduled to vacate at the end of August, with delivery potentially fully vacant depending on the closing date. The second and third floors will be delivered vacant.
Overall, the home is positioned for move-in readiness, with updates focused on the upper floors and additional versatility provided by the finished third level. FHA friendly, subject to buyer qualification.
The first-floor unit is currently tenant-at-will and is scheduled to vacate at the end of August, with delivery potentially fully vacant depending on the closing date. The second and third floors will be delivered vacant.
Overall, the home is positioned for move-in readiness, with updates focused on the upper floors and additional versatility provided by the finished third level. FHA friendly, subject to buyer qualification.
Key Highlights
- 1925‑built two‑family home with spacious driveway and detached garage.
- Second and third levels have been extensively updated and will be delivered vacant.
- Finished third floor adds additional rooms and flexible living space.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$42,730
Cap Rate
6.39%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,600
$854.6K
Cap Rate 7%
$610,429
$610.4K
Cap Rate 9%
$474,778
$474.8K
Market Conditions
NOI Build-Up for 2,391 SF
Gross rent
$66.0K $27.60/SF
− Vacancy
−$4.9K −$2.07/SF
EGI
$61.0K $25.53/SF
− OpEx
−$18.3K −$7.66/SF
NOI
$42.7K $17.87/SF
Area
Bristol County, MA
Vacancy
7.50%
Lease Rate
$27.60 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$854,600
Cap Rate 7%
$610,429
Cap Rate 9%
$474,778
Alternative Uses
Best Use
Multifamily LT 5
$610.4K
$534.1K – $712.2K
NOI $42,730 @ 7.0% cap · market cap 6.39%
Second Best
Apartment 5plus
$567.3K
$496.4K – $661.8K
NOI $39,710 @ 7.0% cap · market cap 5.94%
Theoretical Best
Office A
$1.46M
$1.27M – $1.70M
NOI $101,925 @ 7.0% cap · market cap 15.24%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
442
Businesses Nearby
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Business Placement
Demographics for 02723, MA
16,084
Population
7,976
Households
2
Avg Household Size
38
Median Age
13%
College-Educated
74%
High-School Grad
1.6 sq mi
ZIP Area
10,053
Density / Sq Mi
$41,789
Median Household Income
$40,140
Median Earnings
$1,058
Median Rent
$312,900
Median Home Value
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Market
Vacancy Rate% for Multifamily in Northeast region
Frequently Asked Questions
What type of property is this?
Duplex - Two-family home with spacious driveway, detached garage, and updated second and third levels, delivered vacant on upper floors.
Where is this duplex located?
The property is located at 74 California Street Fall River, MA.
What is the asking price?
The asking price for this property is $669,000.
What are key features of this property?
This property features: 1925‑built two‑family home with spacious driveway and detached garage.; Second and third levels have been extensively updated and will be delivered vacant.; Finished third floor adds additional rooms and flexible living space.
