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Sold on 08/06/2025
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231 S 40th St, Springfield, OR 97478

  • $599,000

    Last sold 08/06/2025 after 7 Days

  • —

    bed

  • —

    bath

  • 3,158

    Sqft ($190/Sqft)

Multi-family not for sale
Movoto is helping 12 homebuyers near you

About 231 S 40th St

Property type Multi-family
Neighborhood
Year built 1973
HOA fee $0/month
Lot size 10,018 Sqft
Movoto estimate
Rental estimate
Property description
New To Market!-Prime Investment Opportunity! This well-maintained quadplex in Springfield is just off Main Street and sits on a spacious lot with private parking-2 spots per unit. Property features include: Three 2 bed/1 bath units & One 3 bed/1 bath unit, shared laundry on the first floor and a history of low to no vacancy. Perfect for seasoned investors or those looking to grow their portfolio with a solid, income-generating property.
Listed by
Listing Agent - Shelly Iverson
Listing Office - Joi Real Estate
Source: RMLS mls logo
MLS#163907285 • last updated 9 months ago
Movoto checked RMLS for data 9 minutes ago
Overview
Cooling/AC None
Heating Ceiling
MLS # 163907285
Type Multi Family
Status Active
Lot Size (SqFt) 10018
Lot Size (Acres) 0.23
Property Tax 5232.93
Year Built 1973
Exterior
Roof Composition
# Parking Spaces 8
Exterior Features T-111 Siding
Lot Desc Level
Amenities / Utilities
Hot Water Electricity
Sewer/ Septic Public Sewer
Water Source Public Water
Location
County Lane
Community Features Laundry
Area 249 - Lane Co: Springfield
Elementary School Douglas Gardens
Middle School Agnes Stewart
High School Springfield
Zoning R2
Directions Main To South 40th
APN 122729
Multifamily Details
Unit Type 3: Total Baths 1
Unit Type 1: # Bedrooms 2
Unit Type 1 : Total Baths 1
Unit Type 2: # Bedrooms 2
Unit Type 3: # Bedrooms 3
Unit Type 4: Total Baths 1
Unit Type 2: Total Baths 1
Unit Type 4: # Bedrooms 2
Unit Type 1: Rent 1000
Unit Type 4: Rent 670
Unit Type 3: Rent 710
Total # of Units 4
Gross Rent Multiplier 18.28
Operating Expense Scheduled 14000
Net Operating Income 18538
Operating Expense 14222
Gross Scheduled Income 37220
Gross Income 32760
Cap Rate 3.09
Net Scheduled Income 23220
Lot/ Land Details
Road Surface Paved
$584K
Range: $525K-$642K
Last 30 days 
Rental est.: $1,674/month
Gross rent multiplier: 29.8
  • Sep 2025
    mls logo MLS # 163907285
  • Sep 15, 2025 Sold
    $599,000
  • Aug 6, 2025 Pending
    —
  • Jul 30, 2025 Listed
    $599,000 (+199.5%)
  • May 2003
    Public Records
  • May 12, 2003 Sold
    $200,000
  • 231 S 40th St
    $599K
  • Mid-Springfield
    $314K -18% y/y
  • 97478
    $501K +2% y/y
  • Springfield
    $476K +2% y/y
No chart available
Statistics calculated by Movoto

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5/10
Agnes Stewart Middle School
public Grades 6-8
Springfield School District 19
3/10
Springfield High School
public Grades 9-12
Springfield School District 19
Source: GreatSchools.org © 2026. All rights reserved.

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