Fourplex with In-Unit
For Sale
$629,000
1180 R Street, Springfield, OR 97477
Four leased 2-bedroom units each include in-unit laundry hookups and designated parking, with a newly installed roof.
Property Size3,604 SF
Price / SF$174.53
Days on Market158
Property Features for 1180 R Street
General Information
Standard status
Active
Size
3,604 SF
Property subtype
Multi Family
Occupancy
100%
Additional Details
Multifamily Units
4
Amenities
in-unit laundry hookups
designated parking
Building Details
Year Built
1982
Tenancy
Multi
Listing Agency:
ICON Real Estate Group
(541) 359-9132
Listed By:
Joshua Glaspie · License #201224520
(541) 359-9132
Source:
Compass
Added: Feb 22
Changed: Jul 23
Last Checked: Jul 30 at 1:45PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ICON Real Estate Group
Investment Insights
Based on property information with market context.
This fourplex includes four 2-bedroom, 1.5-bathroom units. Each unit is set up with in-unit laundry hookups and designated parking. The property also has a brand new roof.
The asset is positioned in Springfield’s Hayden Bridge neighborhood with convenient access to shopping, restaurants, and public transit.
An adjacent fourplex on the same lot is offered separately at the same list price, allowing buyers the option to purchase up to eight total units together or separately.
The asset is positioned in Springfield’s Hayden Bridge neighborhood with convenient access to shopping, restaurants, and public transit.
An adjacent fourplex on the same lot is offered separately at the same list price, allowing buyers the option to purchase up to eight total units together or separately.
Key Highlights
- Fourplex in Springfield’s Hayden Bridge neighborhood with four leased 2‑bedroom, 1.5‑bath units
- In‑unit laundry hookups in each unit plus designated parking
- Brand new composition shingle roof
Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $54.1k | $15.00 |
| − Vacancy | −$3.5k | −$0.98 |
| EGI | $50.5k | $14.03 |
| − OpEx | −$15.2k | −$4.21 |
| NOI | $35.4k | $9.82 |
3,604 SF · lease $15.00/SF/yr · vacancy 6.50% · expense 30.00%
Alternative Uses
Best Use
Multifamily LT 5
$505.5K
$442.3K – $589.7K
NOI $35,382 @ 7.0% cap · market cap 5.63%
Second Best
Apartment 5plus
$470.5K
$411.7K – $549.0K
NOI $32,938 @ 7.0% cap · market cap 5.24%
Theoretical Best
Office A
$911.8K
$797.8K – $1.06M
NOI $63,824 @ 7.0% cap · market cap 10.15%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
4
Residential units
100%
Occupancy
Multi-tenant
Tenancy
Location Intelligence
Trade Area within ½ mile
661
Businesses Nearby
Explore this area
Business Placement
Demographics for 97477, OR
37,602
Population
16,572
Households
2.3
Avg Household Size
39
Median Age
23%
College-Educated
89%
High-School Grad
12.4 sq mi
ZIP Area
3,032
Density / Sq Mi
$63,574
Median Household Income
$35,645
Median Earnings
$1,176
Median Rent
$345,800
Median Home Value
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Four leased 2-bedroom units each include in-unit laundry hookups and designated parking, with a newly installed roof.
Where is this quadplex located?
The property is located at 1180 R Street Springfield, OR.
What is the asking price?
The asking price for this property is $629,000.
What are key features of this property?
This property features: Fourplex in Springfield’s Hayden Bridge neighborhood with four leased 2‑bedroom, 1.5‑bath units; In‑unit laundry hookups in each unit plus designated parking; Brand new composition shingle roof
