5236 Main St - Apartments FOR SALE


Springfield, OR 97478- Outer Springfield
$7,100,000 USD
503-702-6362
5236 Main St, Springfield, OR for Sale
$7,100,000 USD
Apartments - FOR SALE
1/3
null | 6.27% Cap Rate

5236 Main St
Springfield, OR 97478
Outer Springfield


OVERVIEW

Attractive Assumable Financing Village Park Apartments boasts assumable financing with a desirable 3.79% interest rate and 4 years of term remaining. Included: 0.52-Acre Adjacent Residential Building Lot Value-add potential by either building 10 apartment units with rental office or garages with added storage units (verify with building department). Historically High Occupancy Village Park Apartments is fully occupied with strong rent collections, and a significant upside by increasing current rents to the market rate. Highly Desirable Unit Mix Village Park Apartments comprises a diverse mix of one-, two-, and three- bedroom floorplans ranging in size from 546 to 746 square feet. Nearby Access to Willamalane Recreational Parks Village Park Apartments is less than a 5-minute drive from Willamalane’s extensive park and recreation network, including the Bob Keefer Center and Thurston Hills Natural Area, enhancing its appeal to outdoor enthusiasts and families alike. Proximity to Employment Centers and Schools The property is within a 10-mile drive to PeaceHealth Sacred Heart Medical Center, RiverBend Hospital, and a variety of highly rated schools in the Springfield School District, all of which generate consistent housing demand. High Barrier to Homeownership in Lane County With rising home prices and limited new housing supply in the county, renters are staying longer in apartments boosting the area’s sustained occupancy and upward rental trend.

FOR SALE DETAILS

PRICE

$7,100,000 USD

PRICE/SF

$214 USD /SF

# OF UNITS

48

PRICE/UNIT

$147,917

CAP RATE

6.27%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Village Park Apartments

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Garden

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1965

PARKING SPACES

60

LAND DETAILS

LAND ACRES

1.7 AC

LAND SF

74,052 SF

ZONING

LD

APN/PARCEL ID

1347663

ASK ABOUT THIS PROPERTY

Jim GiblinThe Mogharebi GroupMore Info
503-702-6362

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Jim GiblinThe Mogharebi GroupMore Info
503-702-6362

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