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635 637 Fall River Ave

5 Unit Apartment Building $1,450,000 ($290,000/Unit) 6% Cap Rate Seekonk, MA 02771

EXECUTIVE SUMMARY

Phenomenal investment opportunity on heavily trafficked Fall River Road in SeekonkDiscover the potential of this fantastic investment opportunity! Nestled on a high-visibility corner lot, this property features not one, but two buildings on a single lot, providing a diverse income stream to ensure solid returns every month.
The first building houses a thriving driving school, leased for $2,400/month on a secure 3-year lease. The second building hosts a convenience store generating $2,400/month on a month-to-month basis. Both businesses are currently occupied, providing you with immediate income and stability.
In addition to the commercial spaces, this property includes three residential units, each contributing to the robust monthly income. Currently leased at competitive rates, the units consist of a 1-bedroom unit at $1,350/month, a 2-bedroom unit at $1,450/month, and a spacious 3-bedroom unit at $1,600/month. There's great potential to increase rental rates, maximizing your returns.
Convenience is key, and with on-site parking for 12 vehicles, your tenants and customers will appreciate the ease of access. Whether you're an experienced investor or just starting in real estate, this property offers a solid foundation for financial growth.
Seize this opportunity to own a prime piece of real estate with two thriving businesses, stable residential income, and the potential for increased returns. Act now to secure your future with this high-performing investment. Schedule a viewing and witness the lucrative possibilities this property has in store for you.

PROPERTY FACTS

Price $1,450,000
Price Per Unit $290,000
Sale Type Investment
Cap Rate 6%
No. Units 5
Property Type Multifamily
Property Subtype Apartment
Building Size 3,990 SF
No. Stories 3
Year Built 1910

UNIT MIX INFORMATION

DESCRIPTION NO. UNITS AVG. RENT/MO SF
1+1 1 $1,350 -
2+1 1 $1,450 -
3+1 1 $1,600 -
  • Listing ID: 26286204

  • Date on Market: 7/29/2022

  • Last Updated:

  • Address: 635 637 Fall River Ave, Seekonk, MA 02771

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