157 40th St Springfield, OR 97478
East Springfield NeighborhoodEstimated payment $4,147/month
About This Home
4-Plex in Highly Desirable Thurston NeighborhoodExcellent investment opportunity in one of Springfield’s most sought-after areas. Each townhouse-style unit offers two bedrooms and one full bath upstairs, plus a convenient half bath on the main level. The floor plan features spacious living areas, washer and dryer hookups in each private garage, and large yards — a rare find for multifamily living.These properties have a strong, long-term rental history with consistent tenant demand. The exterior was recently painted, and the current owners have cared for and maintained the property for over 20 years. This is a well-preserved and stable investment in a prime location close to schools, parks, shopping, and easy freeway access. New exterior photos and interior photos of vacant unit coming soon.!!!!
Listing Agent
ICON Real Estate Group Brokerage Email: ICON@TheICONREGroup.com License #201208715 Listed on: 11/04/2025
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $5,710
Year Built
- Built in 1973
Lot Details
- 0.31 Acre Lot
Parking
- 4 Car Garage
- Garage Door Opener
Home Design
- Composition Roof
- Vinyl Siding
- Concrete Perimeter Foundation
Interior Spaces
- 4,704 Sq Ft Home
- 2-Story Property
- Crawl Space
Bedrooms and Bathrooms
- 8 Bedrooms
- 8 Bathrooms
Schools
- Riverbend Elementary School
- Briggs Middle School
- Thurston High School
Utilities
- No Cooling
- Zoned Heating
- Electric Water Heater
Listing and Financial Details
- Assessor Parcel Number 1810637
Community Details
Overview
- 4 Units
Building Details
- Operating Expense $19,827
- Gross Income $65,880
- Net Operating Income $46,053
Map
Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2025 | $5,804 | $316,496 | -- | -- |
| 2024 | $5,710 | $307,278 | -- | -- |
| 2023 | $5,710 | $298,329 | $0 | $0 |
| 2022 | $5,288 | $289,640 | $0 | $0 |
| 2021 | $5,193 | $281,204 | $0 | $0 |
| 2020 | $5,042 | $273,014 | $0 | $0 |
| 2019 | $4,890 | $265,063 | $0 | $0 |
| 2018 | $4,403 | $257,343 | $0 | $0 |
| 2017 | $4,425 | $257,343 | $0 | $0 |
| 2016 | $4,415 | $254,544 | $0 | $0 |
| 2015 | $4,301 | $250,088 | $0 | $0 |
| 2014 | $4,353 | $249,486 | $0 | $0 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 11/20/2025 11/20/25 | Pending | -- | -- | -- |
| 11/18/2025 11/18/25 | For Sale | $700,000 | 0.0% | $149 / Sq Ft |
| 11/04/2025 11/04/25 | Pending | -- | -- | -- |
| 11/04/2025 11/04/25 | For Sale | $700,000 | -- | $149 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Bargain Sale Deed | -- | None Available | |
| Bargain Sale Deed | -- | Western Title & Escrow Compa | |
| Warranty Deed | -- | First American Title | |
| Warranty Deed | $350,000 | First American Title |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Previous Owner | $197,000 | New Conventional | |
| Previous Owner | $200,000 | Unknown |
Source: Regional Multiple Listing Service (RMLS)
MLS Number: 239958980
APN: 1810637
Disclaimer: Certain information contained herein is derived from information provided by parties other than Homes.com. All information provided is deemed reliable, but is not guaranteed to be accurate and should be independently verified.
The content relating to real estate for sale on this web site comes in part from the IDX program of the RMLS™ of Portland, Oregon. Real estate listings held by brokerage firms other than Ten-X are marked with the RMLS™ logo, and detailed information about these properties includes the names of the listing brokers. Listing content is copyright © 2025 RMLS™, Portland, Oregon. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available. All information provided is deemed reliable but is not guaranteed and should be independently verified.