Seven-Unit Apartment
For Sale
$649,999
340 S Main St, Lebanon, OR 97355
MULTI_FAMILY - Lebanon, OR
Property Size3,349 SF
Lot Size0.24 Acres
Price / SF$194.09
Days on Market95
Property Features for 340 S Main St
General Information
Property type
Residential Multi Family
Property subtype
Other
Lot features
Dimension Above, Lot: 6300
View
Territorial
Standard status
Active
APN
0174033
Size
3,349 SF
Lot size
0.24 Acres
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4565
Building Details
Year built
1938
Number of units
7
Roof type
Composition
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: May 7
Changed: Aug 7
Last Checked: Aug 9 at 2:06PM
MLS# 840732
Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Seven-unit apartment complex at 340 S Main St, Lebanon, OR 97355. The unit mix includes six one-bedroom, one-bath units and one two-bedroom, two-bath unit with a laundry hookup. The property is described as 100% occupied, with rents and expenses managed on-site.
Built in 1938, the complex sits on a 0.24-acre lot. The roof is composition.
Management materials indicate the property operates with a cap rate of 6.8% (at the stated asking price context). No showings are permitted without an accepted offer, and tenants are not to be contacted.
Built in 1938, the complex sits on a 0.24-acre lot. The roof is composition.
Management materials indicate the property operates with a cap rate of 6.8% (at the stated asking price context). No showings are permitted without an accepted offer, and tenants are not to be contacted.
Key Highlights
- Seven‑unit complex with six one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit
- Two‑bedroom unit includes a laundry hookup
- Property is described as 100% occupied with managed rents and expenses
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$29,123
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
4.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$582,460
$582.5K
Cap Rate 7%
$416,043
$416.0K
Cap Rate 9%
$323,589
$323.6K
Market Conditions
NOI Build-Up for 3,349 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$54.3K $16.20/SF
− Vacancy
−$1.3K −$0.39/SF
EGI
$53.0K $15.81/SF
− OpEx
−$23.8K −$7.12/SF
NOI
$29.1K $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 rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$582,460
Cap Rate 7%
$416,043
Cap Rate 9%
$323,589
Alternative Uses
Best Use
Apartment 5plus
$416.0K
$364.0K – $485.4K
NOI $29,123 @ 7.0% cap · market cap 4.48%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$975.6K
$853.7K – $1.14M
NOI $68,294 @ 7.0% cap · market cap 10.51%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
899
Businesses Nearby
Explore this area
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
Market
Vacancy Rate% for Multifamily in West region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Seven-unit complex with six one-bedroom units and one two-bedroom unit with a laundry hookup, 100% occupied.
Where is this apartment building located?
The property is located at 340 S Main St Lebanon, OR.
What is the asking price?
The asking price for this property is $649,999.
What are key features of this property?
This property features: Seven‑unit complex with six one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit; Two‑bedroom unit includes a laundry hookup; Property is described as 100% occupied with managed rents and expenses
