488 Main St

Springfield, OR 97477

$4,950,000
Price
—
Beds
—
Baths
13,408 Sq. Ft.
$369 / Sq. Ft.
13,408
Sq. Ft.
$369
per Sq. Ft.

Description

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.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.
  1. Listed by Kristena Cox • Windermere RE Lane County • 541-501-3399

Property Details for 488 Main Street

Parking Features
Off Site
Zoning
MUC
View
City, Mountain
LISTING UPDATED: 12/18/2025 12:12 AM

Property Details for 488 Main Street

StatusActive
MLS #352831896
Days on Market324
Taxes$11,467 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeMulti Family
MLS TypeMulti Family
Year Built2024
Lot Size0.11 AC / 4,791 SF
CountyLane County

Location

Listing Courtesy of Windermere RE Lane County
Add your commute

Building Information for 488 Main Street

Stories2Residences15Year Built2024Building Size-Lot Size0.11 AC / 4,791 SF

Payment Calculator

$25,415 per month

30 year fixed, 6.28% Interest

Principal and Interest

$24,460

Property Taxes

$956

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 488 Main Street

Summary
Location and General Information
  • Country: US
  • Directions: Main St. to address. Located at corner of 5th & Main
  • Road Surface: Concrete
School Information
  • Middle Or Junior School: Springfield
Taxes and HOA
  • Tax Year: 2024
  • Tax Annual Amount: $11,466.55
  • Parcel Number: 0313641
  • Tax Legal Description: To be provided by escrow
Property
Lot Information
  • Acres: 0.11
  • Lot Size Square Feet: 4791.0
  • Lot Size Range: Sq Ft3000to4999
  • Lot Size: 3,000 to 4,999 Sq Ft
Property and Assessments
  • Property Type: Multi Family
  • Water Description: Public Water
  • Property Condition: New Construction
  • Year Built: 2024
Utilities
  • Cooling Description: Heat Pump
  • Fuel Description: Electricity
  • Heating Description: Heat Pump
  • Hot Water Description: Recirculating, Tankless
  • Sewer Description: Public Sewer
  • Rent Includes: Sewer, Trash Collection, Water
Interior and Exterior Features
Exterior Features
  • Exterior Description: Brick
  • Roof Type: Membrane
Interior Features
  • Foundation Details: Slab
  • Stories: 2
Multi Family
Multi-Family Information
  • Number Of Units Total: 15
  • Gross Income Actual: $.00
  • Gross Income Projected: $372,014.00
  • Investor Information: Annual Property Operation Data, Profit Loss Statement
  • Net Income Actual: $.00
  • Net Income Projected: 280420
  • Operating Expense: $.00
  • Security Features: Entry, Fire Escape, Fire Sprinkler System, Handicap Access
  • Storage: Individual Storage Units
  • Unit Type Type: Unit Type Type1, Unit Type Type2, Unit Type Type3, Unit Type Type4
  • Common Amenities: All Landscaping, Laundry
  • SqFt Approximate Building Total: 13408
Unit 1 Information
  • Unit Type 1 Baths Total: 1
  • Unit Type 1 Baths Decimal: 1.00
  • Unit Type 1 Beds Total: 1
  • Unit Type 1 Features: Air Conditioning, Deck, Dishwasher, Refrigerator
  • Unit Type 1 Rent: $1,550
  • Unit Type 1 SqFt: 600.0
  • Unit Type 1 Units Total: 12
Unit 2 Information
  • Unit Type 2 Baths Total: 1
  • Unit Type 2 Baths Decimal: 1.00
  • Unit Type 2 Beds Total: 1
  • Unit Type 2 Features: Air Conditioning, Dishwasher
  • Unit Type 2 Rent: $1,702
  • Unit Type 2 SqFt: 689.0
  • Unit Type 2 Units Total: 1
Unit 3 Information
  • Unit Type 3 Baths Total: 0
  • Unit Type 3 Baths Decimal: .00
  • Unit Type 3 Beds Total: 0
  • Unit Type 3 Rent: $2,038
  • Unit Type 3 SqFt: 816.0
  • Unit Type 3 Units Total: 1
Unit 4 Information
  • Unit Type 4 Baths Total: 0
  • Unit Type 4 Baths Decimal: .00
  • Unit Type 4 Beds Total: 0
  • Unit Type 4 Features: Air Conditioning
  • Unit Type 4 Rent: $6,490
  • Unit Type 4 SqFt: 2596
  • Unit Type 4 UnitsTotal: 1

Schools near 488 Main Street

This home is within Springfield School District 19.
Rating
School
Type
Grades
Distance
Two Rivers Dos Rios Elementary School
Public - K to 5
Hamlin Middle School
Public - 6 to 8
Springfield High School
Public - 9 to 12
Academy Of Arts And Academics
Public - 9 to 12
Rating
School
Distance
Two Rivers Dos Rios Elementary School
PublicK to 5

Hamlin Middle School
Public6 to 8

Springfield High School
Public9 to 12

Academy Of Arts And Academics
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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More information about 488 Main Street, Springfield, OR 97477

488 Main Street is a multi-family home for sale in Springfield, OR 97477. This property was listed for sale on January 28, 2025 by Windermere RE Lane County, it's currently listed at $4,950,000. This listing's school district is Springfield School District 19. Nearby schools include Two Rivers Dos Rios Elementary School, Hamlin Middle School and Springfield High School. 488 Main Street is a 0-bed, 0-bath, 13,408 sqft multi-family home built in 2024.

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 Windermere RE Lane County

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: 12/18/2025 12:12 AM