4-Unit Quadplex with Adjacent
For Sale
$800,000
121 W C ST, Springfield, OR 97477
Four two-bedroom apartments are paired with two adjoining parcels carrying different zoning designations.
Property Size3,000 SF
Days on Market10
Property Features for 121 W C ST
General Information
Standard status
Active
Size
3,000 SF
Property subtype
MULTI_FAMILY
Units
Unit Mix
4 x 2BR/1BA
Multifamily Units
4
Taxes and HOA fees
Annual Taxes
$4,043
Building Details
Building Size
3,000 SF
Year Built
1950
Buildings
1
Listing Agency:
Keller Williams Realty Eugene and Springfield
Listed By:
Derrick Roser · License #201224743
(541) 653-7377
Source:
Worthlandrealestate
Added: Oct 1
Changed: Oct 8
Last Checked: Oct 10 at 2:40AM
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 Keller Williams Realty Eugene and Springfield
Investment Insights
Based on property information with market context.
This quadplex contains four apartments, each configured with two bedrooms and one bathroom, at approximately 650 square feet. One apartment has its own washer and dryer connections. A shared area occupies the main level, and unfinished storage space upstairs measures approximately 1,800 square feet according to county records. The building has a metal roof and was constructed in 1950.
Two adjoining lots are included: one measures 0.12 acres and is zoned community commercial, while the other is 0.25 acres and zoned residential. The property is near Willamalane Recreation Center, the Senior Center, Historic Downtown Springfield, and Island Park. Any potential use is subject to due diligence with the City of Springfield.
Two adjoining lots are included: one measures 0.12 acres and is zoned community commercial, while the other is 0.25 acres and zoned residential. The property is near Willamalane Recreation Center, the Senior Center, Historic Downtown Springfield, and Island Park. Any potential use is subject to due diligence with the City of Springfield.
Key Highlights
- Four 2‑bedroom, 1‑bath apartments, approximately 650 square feet each
- Two adjoining parcels: 0.12 acres zoned community commercial and 0.25 acres zoned residential
- Approximately 1,800 square feet of unfinished upper‑level storage, per county records
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,452
Cap Rate
3.68%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,040
$589.0K
Cap Rate 7%
$420,743
$420.7K
Cap Rate 9%
$327,244
$327.2K
Market Conditions
NOI Build-Up for 3,000 SF
Gross rent
$45.0K $15.00/SF
− Vacancy
−$2.9K −$0.98/SF
EGI
$42.1K $14.03/SF
− OpEx
−$12.6K −$4.21/SF
NOI
$29.5K $9.82/SF
Area
Lane County, OR
Vacancy
6.50%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$589,040
Cap Rate 7%
$420,743
Cap Rate 9%
$327,244
Alternative Uses
Best Use
Multifamily LT 5
$420.7K
$368.2K – $490.9K
NOI $29,452 @ 7.0% cap · market cap 3.68%
Second Best
Apartment 5plus
$391.7K
$342.7K – $457.0K
NOI $27,418 @ 7.0% cap · market cap 3.43%
Theoretical Best
Office A
$759.0K
$664.1K – $885.5K
NOI $53,127 @ 7.0% cap · market cap 6.64%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
818
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
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Quadplex - Four two-bedroom apartments are paired with two adjoining parcels carrying different zoning designations.
Where is this quadplex located?
The property is located at 121 W C ST Springfield, OR.
What is the asking price?
The asking price for this property is $800,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath apartments, approximately 650 square feet each; Two adjoining parcels: 0.12 acres zoned community commercial and 0.25 acres zoned residential; Approximately 1,800 square feet of unfinished upper‑level storage, per county records
