1638 S St - Apartments FOR SALE


Springfield, OR 97477- Outer Eugene
$1,745,000 USD
503-230-8600
1638 S St, Springfield, OR for Sale
$1,745,000 USD
Apartments - FOR SALE
1/17
null | 7.1% Cap Rate

1638 S St
Springfield, OR 97477
Outer Eugene


HIGHLIGHTS

  • low maintenance
  • good parking

OVERVIEW

call for tour, one unit is available to show. Rent rolls available, 1 vacancy as of 01/02/2025. Please do not disturb tenants. Original home on property has been updated and is in great condition. The Income statement for last year was self managed so management fees are minimal as seller hired a property manager. Projected net income and projected expenses now includes management fees. please write in Tina Nault Cascade title for escrow. 6 units were built in 2024 the original home is the 7th unit and was built in 1926 and renovated in 2024. Property description: Don’t miss this turnkey 7-unit property perfectly situated at “1638 S Street Springfield Or”. This rare find features six stylish townhomes newly constructed in 2024 with the original home renovated in 2024. Located in a high-demand, central pocket just minutes from the vibrant Washburne Historic District and the revitalized Downtown Springfield, home is situated within minutes of two hospitals, easy highway access, and the convenient Ems transit line for easy commuting to Eugene and the University of Oregon. Every unit is designed for low-maintenance luxury, boasting custom hardwood cabinetry, elegant quartz countertops, durable LVP flooring, and high-efficiency heat pumps for year-round comfort. With a proven rental history and the peace of mind that comes with nearly new construction, this property is a standout addition to any portfolio. Enjoy the benefits of a walkable neighborhood and a thriving community in one of the area’s most accessible locations

FOR SALE DETAILS

PRICE

$1,745,000 USD

PRICE/SF

$351 USD /SF

# OF UNITS

7

PRICE/UNIT

$249,286

CAP RATE

7.1%

% LEASED

86%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1638 S St, Springfield, OR 97477-2571

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

13

LAND DETAILS

LAND ACRES

0.27 AC

LAND SF

11,731 SF

ZONING

MDR

APN/PARCEL ID

1476983

ASK ABOUT THIS PROPERTY

Israel HillJohn L. Scott Real EstateMore Info
503-230-8600

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Israel HillJohn L. Scott Real EstateMore Info
503-230-8600

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.