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1638 S St, Springfield, OR 97477-2571 1638 S St 7 Unit Apartment Building $2,412,288 CAD ($344,613 CAD/Unit) 7.10% Cap Rate Springfield, OR 97477
Investment Highlights
- low maintenance
- good parking
Executive Summary
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
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
Financial Summary (Actual - 2025) |
Annual (CAD) | Annual Per SF (CAD) |
|---|---|---|
| Gross Rental Income |
$193,145
|
$38.88
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$193,145
|
$38.88
|
| Taxes |
$9,562
|
$1.92
|
| Operating Expenses |
$12,384
|
$2.49
|
| Total Expenses |
$21,946
|
$4.42
|
| Net Operating Income |
$171,199
|
$34.46
|
Financial Summary (Actual - 2025)
| Gross Rental Income (CAD) | |
|---|---|
| Annual | $193,145 |
| Annual Per SF | $38.88 |
| Other Income (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss (CAD) | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income (CAD) | |
|---|---|
| Annual | $193,145 |
| Annual Per SF | $38.88 |
| Taxes (CAD) | |
|---|---|
| Annual | $9,562 |
| Annual Per SF | $1.92 |
| Operating Expenses (CAD) | |
|---|---|
| Annual | $12,384 |
| Annual Per SF | $2.49 |
| Total Expenses (CAD) | |
|---|---|
| Annual | $21,946 |
| Annual Per SF | $4.42 |
| Net Operating Income (CAD) | |
|---|---|
| Annual | $171,199 |
| Annual Per SF | $34.46 |
Property Facts
Amenities
Unit Amenities
- Air Conditioning
- Microwave
- Washer/Dryer
- Range
- Tub/Shower
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 2+1 | 1 | $2,365 CAD | 900 |
| 2+1.5 | 1 | $2,310 CAD | 828 |
| 2+1.5 | 1 | $2,421 CAD | 828 |
| 2+1.5 | 1 | $2,407 CAD | 828 |
| 2+1.5 | 1 | $2,089 CAD | 828 |
| 2+1.5 | 1 | $2,130 CAD | 828 |
| 2+1.5 | 1 | $2,343 CAD | 828 |
1 1
Fairly walkable
50/100
Exceptionally drivable
90/100
Limited public transit
30/100
Moderately bikeable
70/100
Property Taxes
| Parcel Number | 1476983 | Total Assessment | $688,233 CAD |
| Land Assessment | $0 CAD | Annual Taxes | $9,562 CAD ($1.92 CAD/SF) |
| Improvements Assessment | $0 CAD | Tax Year | 2025 |
Property Taxes
Parcel Number
1476983
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$688,233 CAD
Annual Taxes
$9,562 CAD ($1.92 CAD/SF)
Tax Year
2025
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1638 S St, Springfield, OR 97477-2571 | 1638 S St
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