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Home Massachusetts Fall River Multi-Family Homes for Sale

159 Cherry St Fall River, MA 02720

Contingent
Price Reduced $25,000
20 Photos
$1,025,000
7 Unit
6 Beds
8 Baths
6720 SQFT
0.12 Acre
159 Cherry St
Fall River, MA 02720

Property Description

Solid income producing 7-unit mixed use building in prime location!This large and meticulously renovated property boasts 6 spacious 1-bedroom apartments, a high-visibility corner storefront, and a 2-car garage making additional income. Enjoy stunning Braga Bridge and Battleship Cove views from some units. Recent upgrades include new kitchens, bathrooms, roof, vinyl floors throughout, carpet wall to drywall, windows, lead certificates, sewer line, and more. All units have forced hot air heating. A completely renovated unit is vacant, offering flexibility, while others house high-quality tenants providing steady income with potential for market rate increases. Store rent is $2200 with a 5yr auto escalation lease.Bonus! A brand new commuter rail station with imminent Boston access is a 15-minute walk. Plus, the revitalized Taunton Riverfront with exciting development is just steps away.Opposite a brand new condo development this area offers strong appreciation in the near future

Property Overview

Property Details click or tap to expand

Building Information

  • Total Units: 7
  • Total Floors: 9
  • Total Bedrooms: 6
  • Total Full Baths: 6
  • Total Half Baths: 2
  • Amenities: Laundromat, Marina, Park, Public Transportation, T-Station, Walk/Jog Trails

Financial

  • APOD Available: Yes
  • Expenses Source: Pro. Forma Available
  • Gross Operating Income: 123600
  • Gross Expenses: 29408
  • Net Operating Income: 98752

Utilities

  • Electric Info: 110 Volts, Circuit Breakers, On-Site, Underground
  • Energy Features: Insulated Windows
  • Utility Connections: for Gas Range
  • Water: City/Town Water, Private
  • Sewer: City/Town Sewer, Private

Unit 1 Description

  • Under Lease: No
  • Floors: 1
  • Levels: 1

Unit 2 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Unit 3 Description

  • Under Lease: Yes
  • Floors: 3
  • Levels: 3

Unit 4 Description

  • Under Lease: Yes
  • Floors: 2
  • Levels: 1

Construction

  • Year Built: 1875
  • Type: 5-9 Family
  • Construction Type: Brick, Stone/Concrete
  • Foundation Info: Brick, Fieldstone
  • Roof Material: Aluminum, Asphalt/Fiberglass Shingles
  • Flooring Type: Vinyl
  • Lead Paint: Certified Treated
  • Warranty: No

Other Information

  • MLS ID# 73259991
  • Last Updated: 07/26/24

Property History click or tap to expand

Date Event Price Price/Sq Ft Source
07/26/2024Contingent$1,025,000$153MLSPIN
07/22/2024Active$1,025,000$153MLSPIN
07/18/2024Price Change$1,025,000$153MLSPIN
07/07/2024Active$1,050,000$156MLSPIN
07/03/2024New$1,050,000$156MLSPIN

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Map & Resources

Seller's Representative: Jason Saphire, www.HomeZu.com
Sub Agent Compensation: n/a
Buyer Agent Compensation: 2%
Facilitator Compensation: 0
Compensation Based On: Net Sale Price
Sub-Agency Relationship Offered: No

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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.

MLS PIN data last updated at 2024-07-26 14:36:00

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