Two-Home Multifamily
For Sale
$440,000
33719 Santiam Hwy, Lebanon, OR 97355
Two residences share a well while maintaining separate septic systems, supporting distinct household configurations on one parcel.
Property Size2,553 SF
Price / SF$172.35
Days on Market47
Property Features for 33719 Santiam Hwy
General Information
Standard status
Active
Size
2,553 SF
Property subtype
Multi-Family
Additional Details
Multifamily Units
2
Building Details
Year Built
1946
Buildings
2
Listing Agency:
MORE REALTY
Listed By:
DALLAS FRANCE
(503) 749-7105
Source:
Oregonhomeshop
Added: Aug 21
Changed: Oct 4
Last Checked: Oct 5 at 11:02PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of MORE REALTY
Investment Insights
Based on property information with market context.
This multifamily property includes two houses on a single lot with approximately 2,553 square feet combined. Built in 1946, the residences feature composition exteriors and a mix of natural gas and electric systems, including gas and electric water-heating and range options.
Each house is served by its own septic tank, while both residences use shared well water. The property is located at 33719 Santiam Hwy in Lebanon, Oregon. Tenants are in place, and property access should be coordinated without disturbing them. Any consideration of dividing the parcel into separate lots requires buyer verification with Linn County regarding partitioning, zoning, permitted uses, utilities, septic, well water, and related property matters.
Each house is served by its own septic tank, while both residences use shared well water. The property is located at 33719 Santiam Hwy in Lebanon, Oregon. Tenants are in place, and property access should be coordinated without disturbing them. Any consideration of dividing the parcel into separate lots requires buyer verification with Linn County regarding partitioning, zoning, permitted uses, utilities, septic, well water, and related property matters.
Key Highlights
- Two houses on one lot with approximately 2,553 sq ft combined
- Separate septic tank serving each house
- Both residences share well water
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,201
Cap Rate
5.05%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,020
$444.0K
Cap Rate 7%
$317,157
$317.2K
Cap Rate 9%
$246,678
$246.7K
Market Conditions
NOI Build-Up for 2,553 SF
Gross rent
$41.4K $16.20/SF
− Vacancy
−$993 −$0.39/SF
EGI
$40.4K $15.81/SF
− OpEx
−$18.2K −$7.12/SF
NOI
$22.2K $8.70/SF
Area
Linn County, OR
Vacancy
2.40%
Lease Rate
$16.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$444,020
Cap Rate 7%
$317,157
Cap Rate 9%
$246,678
Alternative Uses
Best Use
Apartment 5plus
$317.2K
$277.5K – $370.0K
NOI $22,201 @ 7.0% cap · market cap 5.05%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$743.7K
$650.8K – $867.7K
NOI $52,062 @ 7.0% cap · market cap 11.83%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
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Current Use
Lease Details
2
Residential units
Location Intelligence
Trade Area within ½ mile
19
Businesses Nearby
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Business Placement
Demographics for 97355, OR
32,413
Population
13,623
Households
2.4
Avg Household Size
41
Median Age
18%
College-Educated
91%
High-School Grad
214.3 sq mi
ZIP Area
151
Density / Sq Mi
$64,307
Median Household Income
$39,934
Median Earnings
$1,267
Median Rent
$332,700
Median Home Value
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Market
Vacancy Rate% for Multifamily in West region
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Frequently Asked Questions
What type of property is this?
Multifamily property - Two residences share a well while maintaining separate septic systems, supporting distinct household configurations on one parcel.
Where is this multifamily property located?
The property is located at 33719 Santiam Hwy Lebanon, OR.
What is the asking price?
The asking price for this property is $440,000.
What are key features of this property?
This property features: Two houses on one lot with approximately 2,553 sq ft combined; Separate septic tank serving each house; Both residences share well water
