New To Market!-Prime Investment Opportunity! This well-maintained quadplex in Springfield is just off Main Street and sits on a spacious lot with private parking-2 spots per unit. Property features include: Three 2 bed/1 bath units & One 3 bed/1 bath unit, shared laundry on the first floor and a history of low to no vacancy. Perfect for seasoned investors or those looking to grow their portfolio with a solid, income-generating property.
Sold
$599,000
231 S 40th St, Springfield, OR 97478
9beds
3,158sqft
Multi Family
Built in 1973
-- sqft lot
$597,700 Zestimate®
$190/sqft
$1,346 Estimated rent
Home value
$597,700
$568,000 - $628,000
$1,346/mo
Zestimate® history
Loading...
Owner options
Explore your selling options
What's special
Zillow last checked: 8 hours ago
Listing updated: September 15, 2025 at 04:56am
Listed by:
Shelly Iverson 541-579-3605,
Joi Real Estate,
Shelly Begines 541-521-2116,
Joi Real Estate
Bought with:
Sarah Gonzalez, 201216616
Bell Real Estate
Source: RMLS (OR),MLS#: 163907285
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 9
- Bathrooms: 4
- Full bathrooms: 4
Heating
- Ceiling
Cooling
- None
Appliances
- Included: Dishwasher, Range, Refrigerator, Electric Water Heater
- Laundry: Common Area
Features
- Windows: Window Coverings
- Basement: None
Interior area
- Total structure area: 3,158
- Total interior livable area: 3,158 sqft
Property
Parking
- Total spaces: 8
- Parking features: Assigned, Paved
Features
- Stories: 2
Lot
- Size: 10,018 sqft
- Features: Level, SqFt 10000 to 14999
Details
- Parcel number: 0122729
- Zoning: R2
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- T111 Siding
- Foundation: Slab
- Roof: Composition
Condition
- Existing
- Year built: 1973
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Security
- Security features: None
Community
- Community features: Laundry
Location
- Region: Springfield
HOA & financial
Other financial information
- Total actual rent: 2380
Other
Other facts
- Listing terms: Cash,Conventional
- Road surface type: Paved
Price history
| Date | Event | Price |
|---|---|---|
| 12/12/2025 | Listing removed | $1,250 |
Source: Zillow Rentals | ||
| 11/4/2025 | Price change | $1,250-7.4% |
Source: Zillow Rentals | ||
| 10/16/2025 | Price change | $1,350-3.2% |
Source: Zillow Rentals | ||
| 10/1/2025 | Price change | $1,395-3.8% |
Source: Zillow Rentals | ||
| 9/30/2025 | Price change | $1,450-3% |
Source: Zillow Rentals | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2024 | $5,233 +4.4% | $281,616 +3% |
| 2023 | $5,010 +3.4% | $273,414 +3% |
| 2022 | $4,847 +1.8% | $265,451 +3% |
Find assessor info on the county website
Neighborhood: 97478
Nearby schools
GreatSchools rating
- 8/10Douglas Gardens Elementary SchoolGrades: K-5Distance: 0.7 mi
- 6/10Agnes Stewart Middle SchoolGrades: 6-8Distance: 0.8 mi
- 4/10Springfield High SchoolGrades: 9-12Distance: 2.4 mi
Schools provided by the listing agent
- Elementary: Douglas Gardens
- Middle: Agnes Stewart
- High: Springfield
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
Get pre-qualified for a loan
At Zillow Home Loans, we can pre-qualify you in as little as 5 minutes with no impact to your credit score.An equal housing lender. NMLS #10287.
Sell for more on Zillow
Get a free Zillow Showcase℠ listing and you could sell for .
$597,700
2% more+ $11,954
With Zillow Showcase(estimated)
$609,654