MLS# 352831896 – 488 Main St, Springfield, OR 97477 – John Wesley McPherson, Jr., The Portland Team with Premiere Property Group, LLC

Listing courtesy of Windermere RE Lane County.

Property Description

Description

15 Units

Status: Active

Year Built: 2024

Days on Website: 27

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.

Property Details and Features

Property Access

Road Surface Type:

Concrete

Building

Building Area Total:

13408

Built in 2024

Storage:

IndividualStorageUnits

Stories:

Unit Type Type:

UnitTypeType1,UnitTypeType2,UnitTypeType3,UnitTypeType4

Community

Community Features:

AllLandscaping,Laundry

Cooling

Cooling Equipped

Cooling:

HeatPump

Exterior Features

Exterior Description:

Brick

Foundation

Foundation Details:

Slab

Heating

Heating Available

Heating:

HeatPump

Income

Gross Scheduled Income:

$372,014

Net Scheduled Income:

280420

Listing

Contract Status Change Date:

2025-01-28

Days On Market:

Last Transaction Date:

2025-02-24 17:13:13

List Price:

$4,950,000

Listing Contract Date:

2025-01-28

Listing Id:

352831896

Mls Status:

Active

Modification Timestamp:

2025-02-25 01:49:30

On Market Date:

2025-01-28

Rent Includes:

Sewer,TrashCollection,Water

Standard Status:

Active

Location

MLS Area Major:

_249

County Or Parish:

Lane

Lot

Size Acres:

0.11

Size Range:

SqFt3000to4999

Size Square Feet:

4,791

Size:

3,000 to 4,999 SqFt

Miscellaneous

Investor Information:

AnnualPropertyOperationData,ProfitLossStatement

Parking

Features:

OffSite

Possession

Possession:

SubjectToTenantRights

Property

Number Of Units Total:

Property Condition:

NewConstruction

Property View

Zoning:

MUC

Roof

Roof:

Membrane

Schools

Middle Or Junior School:

Springfield

Security Features

Features:

Entry,FireEscape,FireSprinklerSystem,HandicapAccess

Sewer

Sewer:

PublicSewer

Taxes

Annual Amount:

$11,467

Legal Description

Tax Year:

2024

Unit One

Actual Rent:

$1,550

Area:

600

Features:

AirConditioning,Deck,Dishwasher,Refrigerator

Units Total:

1 total bathroom

1 total bedroom

Unit Two

Actual Rent:

$1,702

Area:

689

Features:

AirConditioning,Dishwasher

Units Total:

1 total bathroom

1 total bedroom

Unit Three

Actual Rent:

$2,038

Area:

816

Units Total:

Unit Four

Actual Rent:

$6,490

Area:

2596

Features:

AirConditioning

Units Total:

Utilities

Fuel Description:

Electricity

Hot Water Description:

Recirculating,Tankless

Water Source:

PublicWater

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Contact an Agent

John Wesley McPherson, Jr., CFA

503406-1776 Email Me

Location

$4,950,000 -

488 Main St Springfield , OR 97477

MLS Area Major: _249

Street View

Nearby Schools

Recent Sales in the Area

This content last updated on February 25, 2025 11:43AM. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.