Rivett Building on 5th & Main St. 488 Main st 15 Unit Apartment Building $4,950,000 ($330,000/Unit) 5.67% Cap Rate Springfield, OR 97477
INVESTMENT HIGHLIGHTS
- Mixed use development in downtown Springfield
- Lease up has begun. At the asking price, Seller will lease back any vacant apartment unit as of closing.
- 10 year property tax freeze (excludes commercial units.)
- New construction. Finished December of 2024
- Inquiry for full package with financials and additional information.
EXECUTIVE SUMMARY
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. Email to get financials and full package with additional information.
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Balcony
- Dishwasher
- High Speed Internet Access
- Tub/Shower
- Dining Room
SITE AMENITIES
- On-Site Retail
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| 1+1 | 13 | - | - |
1 of 1
Walk Score®
Walker's Paradise (90)
Bike Score®
Very Bikeable (74)
PROPERTY TAXES
| Parcel Number | 0313641 | Improvements Assessment | $0 |
| Land Assessment | $0 | Total Assessment | $148,364 |
