Movoto Real Estate
Sold on 06/03/2025
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275 S 40th Pl, Springfield, OR 97478

$489,165

Last sold 06/03/2025 for $473K

  • —

    bed

  • —

    bath

  • 2,076

    Sqft ($228/Sqft)

Multi-family not for sale

About 275 S 40th Pl

Property type Multi-family
Neighborhood
Year built 1976
HOA fee $0/month
Lot size 7,840 Sqft
Movoto estimate
Parking 2 garage spaces
Rental estimate
Property description
Investor Alert: Duplex's two units are being sold together. Welcome to 275/273 S. 40th Pl, a well-maintained duplex nestled in a quiet cul-de-sac in one of Springfield's central neighborhoods. Each unit offers 2 spacious upstairs bedrooms, 1 bathroom upstairs, a half bath downstairs, and approximately 1,038 sq ft of comfortable living space with vaulted ceilings in the living rooms. The property features deep one-car garages with washer/dryer hookups (laundry appliances not included) and fully fenced, generously sized backyards—perfect for outdoor activities. One unit (275) has been updated with newer flooring and a refreshed kitchen, adding modern appeal. Whether you're looking to live in one unit and rent the other or expand your investment portfolio, this property provides excellent income potential, with current long-term tenants renting on a month-to-month basis. Conveniently located just minutes from schools, parks, bike paths, shopping, and downtown Springfield, with easy access to major highways. Enjoy the charm and lifestyle of the Willamette Valley while making a smart, versatile investment. Don't miss out on this exceptional duplex—schedule your showing today! 24-hour advance scheduling is in place. PLEASE DO NOT DISTURB TENANTS
Listed by
Listing Agent - Dave Lacy
Listing Agent Contact: 541-747-9971
Listing Office - Valley Real Estate
Source: RMLS mls logo
MLS#677190226 • last updated 1 year ago
Movoto checked RMLS for data 3 minutes ago
Overview
Cooling/AC Air Conditioning Ready
Heating Forced Air
MLS # 677190226
Type Multi Family
Status Active
Lot Size (SqFt) 7840
Lot Size (Acres) 0.18
Property Tax 3975.06
Year Built 1976
Exterior
Roof Composition
# Parking Spaces 2
# Garage Spaces 2
Exterior Features Plywood, T111Siding
Lot Desc Cul_de_sac, Level, Trees
Amenities / Utilities
Hot Water Electricity
Sewer/ Septic Public Sewer
Water Source Public Water
Location
View Seasonal
County Lane
Area 249 - Lane Co: Springfield
Elementary School Douglas Gardens
Middle School Agnes Stewart
High School Springfield
Zoning R2
Directions Main St. To S. 40th To L. On Oregon To 275 S. 40th PL
APN 1181195
Multifamily Details
Unit Type 1: # Bedrooms 2
Unit Type 1 : Total Baths 2
Unit Type 2: # Bedrooms 2
Unit Type 2: Total Baths 2
Unit Type 1: Rent 1250
Unit Type 2: Rent 830
Total # of Units 2
Gross Rent Multiplier 18.81
Net Operating Income 17870
Operating Expense 6590
Gross Income 24460
Cap Rate 3.88
Lot/ Land Details
Road Surface Paved
$489K
Range: $440K-$538K
Last 30 days 
Rental est.: $1,589/month
Gross rent multiplier: 24.8
  • May 2025
    mls logo MLS # 677190226
  • May 28, 2025 Listed
    $460,000
  • 275 S 40th Pl
    $473K
  • Mid-Springfield
    $358K -7% y/y
  • 97478
    $469K -4% y/y
  • Springfield
    $439K -4% y/y
No chart available
Statistics calculated by Movoto

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5/10
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Source: GreatSchools.org © 2026. All rights reserved.

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