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Sold on 11/20/2025
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157 40th St, Springfield, OR 97478

  • $711,000

    Last sold 11/20/2025 after 16 Days

  • —

    bed

  • —

    bath

  • 4,704

    Sqft ($151/Sqft)

Multi-family not for sale
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About 157 40th St

Property type Multi-family
Neighborhood
Year built 1973
HOA fee $0/month
Lot size 0.31 Acre
Movoto estimate
Parking 4 garage spaces
Rental estimate
Property description
4-Plex in Highly Desirable Thurston NeighborhoodExcellent investment opportunity in one of Springfield’s most sought-after areas. Each townhouse-style unit offers two bedrooms and one full bath upstairs, plus a convenient half bath on the main level. The floor plan features spacious living areas, washer and dryer hookups in each private garage, and large yards — a rare find for multifamily living.These properties have a strong, long-term rental history with consistent tenant demand. The exterior was recently painted, and the current owners have cared for and maintained the property for over 20 years. This is a well-preserved and stable investment in a prime location close to schools, parks, shopping, and easy freeway access. New exterior photos and interior photos of vacant unit coming soon.!!!!
Listed by
Listing Agent - Sandra Boyst
Listing Agent Contact: ICON@TheICONREGroup.com
Listing Office - ICON Real Estate Group
Source: RMLS mls logo
MLS#239958980 • last updated 6 months ago
Movoto checked RMLS for data 7 minutes ago
Overview
Cooling/AC None
Heating Zoned
MLS # 239958980
Type Multi Family
Status Sold
Lot Size (SqFt) 13503
Lot Size (Acres) 0.31
Property Tax 5709.78
Year Built 1973
Exterior
Roof Composition
# Parking Spaces 4
# Garage Spaces 4
Exterior Features Vinyl Siding
Amenities / Utilities
Hot Water Electricity
Sewer/ Septic Public Sewer
Water Source Public Water
Location
County Lane
Area 249 - Lane Co: Springfield
Elementary School Riverbend
Middle School Briggs
High School Thurston
Zoning R-2
Directions MAIN ST LEFT 40TH
APN 1810637
Multifamily Details
Unit Type 3: Total Baths 2
Unit Type 1: # Bedrooms 2
Unit Type 1 : Total Baths 2
Unit Type 2: # Bedrooms 2
Unit Type 3: # Bedrooms 2
Unit Type 4: Total Baths 2
Unit Type 2: Total Baths 2
Unit Type 4: # Bedrooms 2
Unit Type 1: Rent 1300
Unit Type 4: Rent 1495
Unit Type 3: Rent 1395
Unit Type 2: Rent 1300
Total # of Units 4
Gross Rent Multiplier 10.63
Net Operating Income 46053
Operating Expense 19827
Gross Income 65880
Cap Rate 6.58
Lot/ Land Details
Road Surface Paved
$718K
Range: $674K-$761K
Last 30 days 
Rental est.: $1,604/month
Gross rent multiplier: 36.4
  • Dec 2025
    mls logo MLS # 239958980
  • Dec 22, 2025 Sold
    $711,000 (+1.6%)
  • Nov 20, 2025 Pending
    —
  • Nov 18, 2025 Listed
    —
  • Nov 4, 2025 Pending
    —
  • Nov 4, 2025 Listed
    $700,000
  • 157 40th St
    $711K
  • Mid-Springfield
    $356K -4% y/y
  • 97478
    $494K +1% y/y
  • Springfield
    $459K -1% y/y
No chart available
Statistics calculated by Movoto

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2/10
Riverbend Elementary School
public Grades K-5
Springfield School District 19
5/10
Briggs Middle School
public Grades 6-8
Springfield School District 19
4/10
Thurston High School
public Grades 9-12
Springfield School District 19
Source: GreatSchools.org © 2026. All rights reserved.

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