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31457920
31665866

168 S 63rd St, Springfield, OR 97478

JR
OR OR 201237753
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland
$720,000
63 days on market
Updated 34 days ago

63rd Street Fourplex

Details
Property Type Multifamily
Sub Type Apartment Building
Square Footage 5,840
Net Rentable (SqFt) 4,940
Units 4
Cap Rate 5.58%
NOI $40,183
Occupancy 100%
Pro-Forma Cap Rate 6.76%
Pro-Forma NOI $48,691
Price per SqFt $123
Class C
Year Built 1979
Buildings 1
Stories 2
Acreage 0.240
Investment Type Value Add

Value-add Four Plex - Large Townhome Units

Marketing description

The 63rd Street Fourplex is a two-story multifamily property located at 168 S. 63rd Street in Springfield, Oregon. Built in 1979, the property sits on approximately 0.24 acres and consists of four residential units totaling approximately 4,940 square feet of living space. The unit mix includes two two-bedroom/one-and-one-half-bathroom units and two three-bedroom/one-and-one-half-bathroom units, offering spacious layouts that appeal to a wide range of tenants seeking larger floor plans in the Springfield rental market.

Each unit features desirable amenities including private garages and fenced yards, providing tenants with additional privacy and storage while creating a more single-family style living environment. The property is individually metered for electricity and water, helping to keep operating expenses low for ownership.

Location Overview –

The property is positioned in a convenient residential area of Springfield with easy access to major transportation corridors including Highway 126 and Interstate 5, allowing residents to quickly commute throughout the Eugene–Springfield metro area. The location provides excellent connectivity to major employment hubs, retail centers, and daily amenities while maintaining a quiet neighborhood setting.

Residents benefit from close proximity to Gateway Mall, RiverBend Medical Center, and numerous shopping, dining, and entertainment options located just minutes away along Gateway Street and Beltline Road. The surrounding area is also home to several parks, schools, and community amenities, making it an attractive location for long-term renters seeking both convenience and livability.

Investment highlights

  • Value-add potential by increasing rents to market
  • Strong unit mix of two and three bedroom units
  • Garage parking and fenced yard for every unit
  • Low vacancy with long term tenants

Listing Contacts

JR
OR OR 201237753
Marcus & Millichap - Portland
Listed by Marcus & Millichap - Portland

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Loan Amount
$0.00
Annual Debt Service
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Annual Cash Flow
$40,183.00
$3,348.58/mo

Valuation Metrics

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DSCR
5.58%
Cap Rate
5.58%
ROI

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Additional Information

Name
Joshua Reynolds
License
OR 201237753
Brokerage
Marcus & Millichap
Title
Apartment Broker
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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