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    313-495 Wheeler St Lebanon, OR 97355

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    For Sale
    $3,800,000

    Apartment complex in Lebanon, Oregon with significant rent upside.

    Property size:
    26,152 SF

    Property Features for 313-495 Wheeler St

    General Information

    Size
    26,152 SF

    Building Details

    Year built
    1972

    Source: Bjorn Beer Agent Bjorn Beer

    Displayed information is deemed reliable but is not guaranteed and should be independently verified.

    Overview

    Edgewater Square Apartments with Upside

    Edgewater Square Apartments present an investment opportunity in Lebanon, Oregon, a bedroom community for Corvallis. The property offers upside potential in a market positioned for continued growth. Current rents are approximately 25% below market value. The property has undergone improvements, including asphalt repairs and resurfacing, tree removal, common area dumpsters, deck replacement, gutter replacement, and replacement of forced air heat pumps. The property includes excess land that allows for the development of at least 8 additional two-story units. Units feature washer and dryer hookups and private patios. The property offers single-level, age-in-place living. Tenants are responsible for water, sewer, gas, and electricity expenses, while the owner covers garbage and recycling. There are 11 tenant garages with potential for increased revenue through a RUBS (Ratio Utility Billing System) implementation.
    Location Intelligence

    Current Use by Public Records

    Commercial land

    Suggested Use

    Realty agency Law Firm Restaurant Spa & Massage Dental Office Hair Salon Nail Salon Clothing Store Building Supply Gym & Fitness

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Lebanon
    County
    Linn
    State
    Oregon
    Longitude
    -122.9019995
    Latitude
    44.5466739

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    FAQs

    What type of property is this?
    Apartment building - Apartment complex in Lebanon, Oregon with significant rent upside.
    Where is this apartment building located?
    The property is located at 313-495 Wheeler St Lebanon, OR.
    What is the asking price?
    The asking price for this property is $3,800,000.
    What are key features of this property?
    This property features: - Significant rent upside, approximately 25% below market; - Buildable land allows for development of at least 8 additional units; - 11 tenant garages with significant upside
    (541) 745-4050
    Request Owner's contact information
    313-495 Wheeler St Lebanon, OR 97355
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    313-495 Wheeler St Lebanon, OR 97355
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