488 Main st - Apartments FOR SALE


Springfield, OR 97477
$4,950,000 USD
541-465-8107
488 Main st, Springfield, OR for Sale
$4,950,000 USD
Apartments - FOR SALE
1/16
null | 5.67% Cap Rate

488 Main st
Springfield, OR 97477


HIGHLIGHTS

  • Mixed use development in downtown Springfield
  • New construction. Finished December of 2024
  • Lease up has begun. At the asking price, Seller will lease back any vacant apartment unit as of closing.
  • Inquiry for full package with financials and additional information.
  • 10 year property tax freeze (excludes commercial units.)

OVERVIEW

Rivett on 5th & Main is the newest mixed-use development in the Eugene/ Springfield metro area. Just finished in December of 2024, it features 12 townhouse style apartments on the second floor, two retail spaces and one live/work unit. Architecturally designed with top-of-the-line amenities. 10 year property tax freeze on apartments (excludes commercial units.) Lease up has just begun and at the asking price, Seller will lease back any apartment unit that is not leased by closing. Email to get financials and full package with additional information.

FOR SALE DETAILS

PRICE

$4,950,000 USD

PRICE/SF

$369 USD /SF

# OF UNITS

15

PRICE/UNIT

$330,000

CAP RATE

5.67%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Rivett Building on 5th & Main St.

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Storefront Retail/Residential

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2024

PARKING SPACES

-

LAND DETAILS

LAND ACRES

-

LAND SF

-

ZONING

mixed uses

APN/PARCEL ID

-

ASK ABOUT THIS PROPERTY

Justin SchmickWindermere Real Estate Lane CountyMore Info
541-465-8107

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Justin SchmickWindermere Real Estate Lane CountyMore Info
541-465-8107

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.