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Listed by SMI Commercial Real Estate LLC
$1,295,000
Est. payment /mo
0.38 Acres Lot
Active
591 W SHERMAN ST Lebanon, OR 97355
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Key Details
Property Type Multi-Family
Listing Status Active
Purchase Type For Sale
MLS Listing ID 639912323
Year Built 1948
Annual Tax Amount $6,595
Tax Year 2024
Lot Size 0.380 Acres
Property Description
Single-story 10-unit apartment complex located in West Lebanon. Built in 1948, the property offers (3) 2 bed / 1 bath units and (7) 1 bed / 1 bath units. As-is cap rate is 6.87% and 7.88% on highest achieved rents. Two units have been fully renovated, offering immediate rent growth potential as leasing demand remains strong. The property features a central courtyard, off-street parking, and onsite laundry — appealing amenities in a quiet, residential neighborhood.
Location
State OR
County Linn
Area _221
Zoning RM
Interior
Heating Other
Cooling None
Exterior
Garage No
Building
Story 1
Sewer Public Sewer
Water Public Water
Level or Stories 1
Schools
Middle Schools Seven Oak
Others
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
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Suzanne Clark
Your Trusted Advisor, Principle Broker, Licensed in OR | License ID: 200608182