181-187 Nashua St

    Fall River, MA 02721
    • $440,000
    • STATUS: Active
    • MLS #: 72513419
    UPDATED: 55 min ago
    $440,000
    • 12
      BEDS
    • 0.11
      ACRES
    • 6
      BATHS
    • 0
      1/2 BATHS
    • 4,215
      SQFT
    • $104
      $/SQFT
    Neighborhood:
    Type:
    Multi-Family
    Built:
    1901
    County:
    Area:

    School Ratings & Info

    Listing courtesy of David Ferreira of Fortified Realty Group.

    Description

    NOI is $36,312 and Cap Rate is 8.25%. The rental market is tight and vacancies fill quickly for a premium. At $73,333 a unit, this 6-unit building is being offered for an investor looking to add a cash flowing and well managed property to their portfolio. Current ownership purchased the property, stabilized and repaired it and brought in a top management team to manage the day to day operations. Current management company has over 400 units under management and is willing to continue working with the new owners to ensure a seamless transition. This represents an opportunity for a passive investor to purchase income producing property and remain "hands off. Fall River has several economic factors to continue to support the current income (and future growth) at this property. Sale includes 6 Fridges/6 Stoves/6 Water Heaters. Contract with vendor for coin-op laundry for added income. See attached report for further complete breakdown of property.

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    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2019-11-18T09:06:16.713.
    www.primarynational.com/homes/95576200

    181-187 Nashua St Fall River, MA 02721

    • Price: $440,000
    • Status: Active
    • Updated: 55 min ago
    • MLS #: 72513419
    12
    Beds
    6
    Baths
    0
    ½ Baths
    0.11
    Acres
    4,215
    SQFT
    $104
    $/SQFT
    1901
    Built
    Neighborhood:
    Other
    County:
    Bristol
    Area:
    Other
    Property Description
    NOI is $36,312 and Cap Rate is 8.25%. The rental market is tight and vacancies fill quickly for a premium. At $73,333 a unit, this 6-unit building is being offered for an investor looking to add a cash flowing and well managed property to their portfolio. Current ownership purchased the property, stabilized and repaired it and brought in a top management team to manage the day to day operations. Current management company has over 400 units under management and is willing to continue working with the new owners to ensure a seamless transition. This represents an opportunity for a passive investor to purchase income producing property and remain "hands off. Fall River has several economic factors to continue to support the current income (and future growth) at this property. Sale includes 6 Fridges/6 Stoves/6 Water Heaters. Contract with vendor for coin-op laundry for added income. See attached report for further complete breakdown of property.
    Exterior Features

    Beachfront No Color Brick Red Exterior Brick Foundation FieldstoneGranite Garage Spaces 0 Lot Description City View(S) Parking Features Off-Street Parking Spaces 6 Road Type Public Roof Material Asphalt/Fiberglass Shingles Waterfront Flag No Waterview Flag No

    Interior Features

    Appliances Common WasherDryer Appliances Unit1 RangeRefrigerator Appliances Unit2 RangeRefrigerator Appliances Unit3 RangeRefrigerator Appliances Unit4 RangeRefrigerator Basement Yes Basement Features Full Bedrooms Unit1 2 Bedrooms Unit2 2 Bedrooms Unit3 2 Bedrooms Unit4 2 Fireplaces 0 Fireplaces Unit1 0 Fireplaces Unit2 0 Fireplaces Unit3 0 Fireplaces Unit4 0 Floors Unit1 1 Floors Unit2 1 Floors Unit3 2 Floors Unit4 2 Full Baths Unit1 1 Full Baths Unit2 1 Full Baths Unit3 1 Full Baths Unit4 1 Half Baths Unit1 0 Half Baths Unit2 0 Half Baths Unit3 0 Half Baths Unit4 0 Heat Units 6 Heat Zones 6 Heating Unit1 GasSpace Heater Heating Unit2 GasSpace Heater Heating Unit3 GasSpace Heater Heating Unit4 GasSpace Heater Hot Water Natural GasTank Levels 3 Levels Unit1 1 Levels Unit2 1 Levels Unit3 1 Levels Unit4 1 Rooms 36 Rooms Common Laundry Rooms Unit1 6 Rooms Unit2 6 Rooms Unit3 6 Rooms Unit4 6

    Property Features

    Apod Available Yes Assessments 212200.00 Disclosure No Disclosures Seller Has Never Occupied The Property. Many Repairs Were Completed including New Roof And New Water HeatersUnit RepairsEtc. Property is Professionally Managed. Washer/Dryer Owned By Automatic Laundry - Contract To Pass To New Owner. See Attached Packet For Further info. Electric Features Circuit Breakers60 Amps/Less Expenses Source Owner Provided Expenses Year End 05/19 Gross Operating Income 58800 Lead Paint Unknown Lease Unit1 N Lease Unit2 N Lease Unit3 N Lease Unit4 N Lender Owned No Multifamily Type 5-9 Family Net Operating Income 36738 Rent Description Unit1 Water Rent Description Unit2 Water Rent Description Unit3 Water Rent Description Unit4 Water Rent Unit1 800 Rent Unit2 850 Rent Unit3 800 Rent Unit4 850 Sewer City/Town Sewer Short Sale Lender App Required No Sq Ft Disclosures From Public Records - Buyer To Verify Sq Ft Source Public Record Tax Year 2019 Taxes 3094.00 Water City/Town Water Year Built Description Approximate Year Built Source Public Record Zoning A-3

    Listing information © 2019 MLS Property Information Network. All information is deemed reliable but should be independently verified.
    Listing provided courtesy of David Ferreira of Fortified Realty Group.


    The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein. Data last updated 2019-11-18T09:06:16.713.
     
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    Listing courtesy of David Ferreira of Fortified Realty Group.