848 N St Springfield, OR 97477
- Commercial real estate
- 2,664 SF
Current Use by Public Records
- Commercial real estate
Property Details for 848 N St
- Year built
- 1973
- Property size
- 2,664 SF
- Property type
- Commercial real estate
Description
This exceptional five-unit multifamily investment property, located at 848 N St, Springfield, OR 97477, presents a compelling opportunity. Comprising two separate buildings – a duplex and a triplex – this property boasts a total of 2,664 square feet of net rentable space situated on a sizable 13,504 square foot corner lot. Built in 1973, the property features six bedrooms across the five units, with some units including garages. The property benefits from a desirable location, close to public transportation and shopping amenities. Exterior paint was refreshed in 2021, and unit 1530 has undergone recent remodeling. The property's strong financial performance is evidenced by a current NOI of $44,881, translating to a 6.55% cap rate at an asking price of $685,000. The property is zoned R1 and offers potential for future development, such as an Accessory Dwelling Unit (ADU), subject to local regulations. The large backyard provides ample space. Please note that the property is currently occupied by long-term tenants, and any showings must be scheduled with consideration for their privacy. The property is offered as-is, with no seller financing available. The APN is 0223733.
Value Estimation
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Springfield
- County
- Lane
- State
- Oregon
- Longitude
- -123.014
- Latitude
- 44.0591
