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 7.67% Cap on Actuals, 8.46% on Proforma. 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.
Sold
$1,185,000
591 W Sherman St, Lebanon, OR 97355
13beds
--sqft
Multi Family
Built in 1948
-- sqft lot
$-- Zestimate®
$--/sqft
$1,422 Estimated rent
Home value
Not available
Estimated sales range
Not available
$1,422/mo
Zestimate® history
Owner options
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$1,422/mo
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$1,422/mo
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$5,859/mo
Est. payment
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$5,859/mo
Est. payment
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Zillow last checked:
Listing updated:
Listed by:
Eric Swanson 541-990-3795,
SMI Commercial Real Estate LLC
Bought with:
Eric Swanson, 201221479
SMI Commercial Real Estate LLC
Source: RMLS (OR),MLS#: 639912323
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 13
- Bathrooms: 10
- Full bathrooms: 10
Heating
- Other
Cooling
- None
Appliances
- Included: Electric Water Heater
Property
Features
- Stories: 1
Lot
- Size: 0.38 Acres
- Features: SqFt 15000 to 19999
Details
- Parcel number: 0180006
- Zoning: RM
Construction
Type & style
- Home type: MultiFamily
- Property subtype: Multi Family
Materials
- Other
Condition
- Year built: 1948
Utilities & green energy
- Sewer: Public Sewer
- Water: Public
Community & neighborhood
Location
- Region: Lebanon
Other
Other facts
- Listing terms: Cash,Conventional
Price history
| Date | Event | Price |
|---|---|---|
| 12/12/2025 | Sold | $1,185,000-0.8% |
Source:  RMLS (OR) #639912323 Report a problem | ||
| 8/6/2025 | Price change | $1,195,000-7.7% |
Source: RMLS (OR) #639912323 Report a problem | ||
| 7/2/2025 | Price change | $1,295,000-7.2% |
Source:  WVMLS #828226 Report a problem | ||
| 4/28/2025 | Listed for sale | $1,395,000+27.4% |
Source: WVMLS #828226 Report a problem | ||
| 2/25/2022 | Sold | $1,095,000 |
Source: RMLS (OR) #21288139 Report a problem | ||
| 12/14/2021 | Contingent | $1,095,000 |
Source: WVMLS #786573 Report a problem | ||
| 12/3/2021 | Listed for sale | $1,095,000+184.4% |
Source: WVMLS #786573 Report a problem | ||
| 5/6/2016 | Listing removed | $385,000 |
Source: HERITAGE NW SWEET HOME #702013 Report a problem | ||
| 3/28/2016 | Listed for sale | $385,000 |
Source: HERITAGE NW SWEET HOME #702013 Report a problem | ||
Public tax history
Tax history is unavailable.
Neighborhood: 97355
Nearby schools
GreatSchools rating
- 7/10Green Acres SchoolGrades: K-6Distance: 0.3 mi
- 6/10Seven Oak Middle SchoolGrades: 6-8Distance: 2.3 mi
- 5/10Lebanon High SchoolGrades: 9-12Distance: 0.7 mi
Schools provided by the listing agent
- Middle: Seven Oak
Source: RMLS (OR). This data may not be complete. We recommend contacting the local school district to confirm school assignments for this home.
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- Oregon
- Linn County
- Lebanon
- 97355
- 591 W Sherman St
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