20-Unit Multifamily Building For
99 Irving Street, Fall River, MA 02723
For Sale
$2,950,000
Well-maintained 20-unit building with renovated units and income potential.
Property Size13,555 SF
Days on Market224
Property Features for 99 Irving Street
General Information
Standard status
Size
Total Parking Spaces
Property subtype
Taxes and HOA fees
Annual Taxes
Building Details
Building Size
Year Built
Listing Agency:
Lamacchia Realty, Inc.
Listed By:
Ronald Rusin
(508) 509-3792
Source:
Classifiedrealtygroup
Added: Apr 1
Changed: Oct 29
Last Checked: Nov 8 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 Lamacchia Realty, Inc.
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Investment Insights
Based on property information with market context.
Located at 99 Irving Street in Fall River, this well-maintained brick building features 20 units, including 17 renovated units. The property generates an income of 302,952 and offers a unit mix of 11 one-bedroom units, 8 two-bedroom units, and 1 studio. Each unit has separate electric meters. The building includes two central hot water tanks and a coin-operated laundry room. A paved parking lot across the street is included in the sale, with the garage excluded, plus additional on-site paved parking. The property is located near Route 24, I-195, downtown Fall River, waterfront attractions, Bristol Community College, and public transportation. The walk score is 89, indicating it is very walkable, the bike score is 63, indicating it is bikeable, and the transit score is 43, indicating some transit options are available. This multifamily property presents an investment opportunity with immediate stability and long-term upside.
Key Highlights
- High‑income 20‑unit brick building with 17 renovated units.
- Strong unit mix: 11 one‑bedrooms, 8 two‑bedrooms, and 1 studio.
- Paved parking lot across the street included, plus additional on‑site parking.
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$225,125
Cap Rate
7.63%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$4,502,500
$4.5M
Cap Rate 7%
$3,216,071
$3.2M
Cap Rate 9%
$2,501,389
$2.5M
Market Conditions
NOI Build-Up for 13,555 SF
Gross rent
$439.2K $32.40/SF
− Vacancy
−$29.9K −$2.20/SF
EGI
$409.3K $30.20/SF
− OpEx
−$184.2K −$13.59/SF
NOI
$225.1K $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%
$4,502,500
Cap Rate 7%
$3,216,071
Cap Rate 9%
$2,501,389
Alternative Uses
Best Use
Apartment 5plus
$3.22M
$2.81M – $3.75M
NOI $225,125 @ 7.0% cap · market cap 7.63%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$8.25M
$7.22M – $9.63M
NOI $577,833 @ 7.0% cap · market cap 19.59%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Who owns this building?
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Open Analytics
Location Intelligence
Trade Area within ½ mile
880
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
$312,900
Median Home Value
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Cap Rate, Value Estimation, Potential NOI and more
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Market
Average Price Trend$/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 - Well-maintained 20-unit building with renovated units and income potential.
Where is this apartment building located?
The property is located at 99 Irving Street Fall River, MA.
What is the asking price?
The asking price for this property is $2,950,000.
What are key features of this property?
This property features: High‑income 20‑unit brick building with 17 renovated units.; Strong unit mix: 11 one‑bedrooms, 8 two‑bedrooms, and 1 studio.; Paved parking lot across the street included, plus additional on‑site parking.
