157 40th St

Springfield, OR 97478

$700,000
Price
—
Beds
—
Baths
4,704 Sq. Ft.
$149 / Sq. Ft.
4,704
Sq. Ft.
$149
per Sq. Ft.
Pending
Pending
a black car in front of white house

Description

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...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.!
  1. Listed by Sandra Boyst • ICON Real Estate Group • ICON@TheICONREGroup.com

Property Details for 157 40th Street

Parking Features
Garage, Garage Door Opener
Zoning
R-2
Garage Spaces
4.00
Parking Total
4.00
LISTING UPDATED: 11/20/2025 05:26 PM

Property Details for 157 40th Street

StatusPending
MLS #239958980
Days on Market16
Taxes$5,710 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built1973
Lot Size0.31 AC / 13,503 SF
CountyLane County

Location

Listing Courtesy of ICON Real Estate Group
Add your commute

Building Information for 157 40th Street

Stories2Residences4Year Built1973Building Size-Lot Size0.31 AC / 13,503 SF

Payment Calculator

$3,935 per month

30 year fixed, 6.28% Interest

Principal and Interest

$3,459

Property Taxes

$476

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 157 40th Street

Summary
Location and General Information
  • Country: US
  • Directions: MAIN ST LEFT 40TH
  • Road Surface: Paved
School Information
  • Elementary School: Riverbend
  • High School: Thurston
  • Middle Or Junior School: Briggs
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $5,709.78
  • Parcel Number: 1810637
  • Tax Legal Description: 17-02-31-41-00404
Property
Lot Information
  • Acres: 0.31
  • Lot Size Square Feet: 13503.0
  • Lot Size Range: Sq Ft10000to14999
  • Lot Size: 10,000 to 14,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: Existing
  • Year Built: 1973
Utilities
  • Cooling Description: None
  • Fuel Description: Electricity
  • Heating Description: Zoned
  • Hot Water Description: Electricity
  • Sewer Description: Public Sewer
  • Rent Includes: Maintenance Grounds
Interior and Exterior Features
Exterior Features
  • Exterior Description: Vinyl Siding
  • Roof Type: Composition
Interior Features
  • Basement: Crawl Space
  • Foundation Details: Concrete Perimeter
  • Stories: 2
Multi Family
Multi-Family Information
  • Number Of Units Total: 4
  • Gross Income Actual: $65,880.00
  • Gross Rent Multiplier: $10.63
  • Investor Information: According To Owner, Rent Records
  • Net Income Actual: $46,053.00
  • Operating Expense: $19,827.00
  • Storage: Garage
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • SqFt Approximate Building Total: 4704
Unit 1 Information
  • Unit Type 1 Baths Total: 2
  • Unit Type 1 Baths Decimal: 1.10
  • Unit Type 1 Beds Total: 2
  • Unit Type 1 Features: Dishwasher, Range, Refrigerator, Washer Dryer Hookup
  • Unit Type 1 Rent: $1,300
  • Unit Type 1 SqFt: 950.0
  • Unit Type 1 Units Total: 1
Unit 2 Information
  • Unit Type 2 Baths Total: 2
  • Unit Type 2 Baths Decimal: 1.10
  • Unit Type 2 Beds Total: 2
  • Unit Type 2 Rent: $1,300
  • Unit Type 2 SqFt: 950.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 2
  • Unit Type 3 Baths Decimal: 1.10
  • Unit Type 3 Beds Total: 2
  • Unit Type 3 Features: Range, Refrigerator, Washer Dryer Hookup
  • Unit Type 3 Rent: $1,395
  • Unit Type 3 SqFt: 950.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 2
  • Unit Type 4 Baths Decimal: 1.10
  • Unit Type 4 Beds Total: 2
  • Unit Type 4 Rent: $1,495
  • Unit Type 4 SqFt: 950
  • Unit Type 4 UnitsTotal: 1

Property History for 157 40th Street

DateEvent & SourcePriceAppreciation
Dec 6, 2007

Sold (Public Record)

Public Record #229900291

$350,000—
DateEvent & SourcePrice
12/06/2007

Sold (Public Record)

Public Record #229900291

$350,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 157 40th Street

Taxable ValueLand-Additions-Total-
Tax Record2025$5,804 ($484 / month)
Home Facts
Baths6Total Finished SqFt4,704 SqFtAbove Grade Finished SqFt4,704 SqFtStories2Lot Size13,504 SqFtStyleQuadraplexYear Built1973Year Renovated1986ZoningMD- MEDIUM DECountyLANEAPN17-02-31-41-00404-000

Schools near 157 40th Street

This home is within Springfield School District 19.
Rating
School
Type
Grades
Distance
Riverbend Elementary School
Public - K to 5
Briggs Middle School
Public - 6 to 8
Thurston High School
Public - 9 to 12
Gateways High School
Public - 9 to 12
Rating
School
Distance
Riverbend Elementary School
PublicK to 5

Briggs Middle School
Public6 to 8

Thurston High School
Public9 to 12

Gateways High School
Public9 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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No guarantee, warranty or representation of any kind is made regarding the completeness or accuracy of descriptions or measurements (including square footage measurements and property condition), such should be independently verified, and Compass, Inc., its subsidiaries, affiliates and their agents and associated third parties expressly disclaims any liability in connection therewith. Photos may be virtually staged or digitally enhanced and may not reflect actual property conditions. Offers of compensation are subject to change at the discretion of the seller. No financial or legal advice provided. Equal Housing Opportunity.

Listing Courtesy of ICON Real Estate Group

All information provided is deemed reliable but is not guaranteed 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 Compass are marked with the RMLS logo and detailed information about these properties includes the names of the listing brokers. Copyright © 2025 RMLS, Portland, Oregon. Last updated: 11/20/2025 05:26 PM