7-Unit Apartment
340 S Main St, Lebanon, OR 97355
For Sale
$619,999
Multi Family, Lebanon, OR
Property Size3,349 SF
Lot Size0.24 Acres
Price / SF$185.13
Days on Market187
Property Features for 340 S Main St
General Information
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APN
Size
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Additional Details
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Taxes and HOA fees
Tax Year
Tax Annual Amount
Building Details
Year built
Number of units
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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: Nov 3
Last Checked: Nov 9 at 9:06AM
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.
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Investment Insights
Based on property information with market context.
This 7-unit apartment property contains six one-bedroom, one-bath residences and one two-bedroom, two-bath residence with a laundry hookup. The 3,349-square-foot building was constructed in 1938 and has a composition roof. The 0.24-acre property is reported at 100% occupancy, with an 8.1% cap rate based on rents and expenses that include management.
Key Highlights
- Seven apartment units: six one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit
- 3,349‑square‑foot building on 0.24 acres
- 100% occupied; reported 8.1% cap rate, with management included in expenses
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$29,123
Cap Rate
4.70%
Suggested Prices Based on Cap Rates
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
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 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 4.70%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$975.6K
$853.7K – $1.14M
NOI $68,294 @ 7.0% cap · market cap 11.02%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
7
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
899
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
Frequently Asked Questions
What type of property is this?
Apartment building - Six one-bedroom apartments are complemented by a two-bedroom, two-bath unit.
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 $619,999.
What are key features of this property?
This property features: Seven apartment units: six one‑bedroom, one‑bath units and one two‑bedroom, two‑bath unit; 3,349‑square‑foot building on 0.24 acres; 100% occupied; reported 8.1% cap rate, with management included in expenses
