Occupied Triplex
For Sale
$525,000
766 S 2nd St, Lebanon, OR 97355
Multi Family, Lebanon, OR
Property Size3,666 SF
Lot Size0.24 Acres
Price / SF$143.21
Days on Market52
Property Features for 766 S 2nd St
General Information
Property type
Residential Multi Family
Property subtype
Triplex
Zoning
Central Business
Bedrooms
8
Bathrooms
6
Full bathrooms
6
Rooms
Bathroom 4, Bathroom 5, Bedroom 7, Bedroom 5, Bedroom 3, Bathroom 2, Bathroom 6, Bedroom 1, Bathroom 3, Bedroom 8, Bedroom 6, Bathroom 1, Bedroom 2, Bedroom 4
Fireplace
1
Subdivision
Lebanon, Plan of
Lot features
Dimension Above, Lot: 3
View
Territorial
Elementary school
Green Acres
Middle school
Seven Oak
High school
Lebanon
Directions
South on Main St, Right on Sherman, left on 2nd St
Standard status
Active
APN
179040
Size
3,666 SF
Lot size
0.24 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax Annual Amount
4581
Utilities
Heating system
Ductless (Heating)
Building Details
Year built
1948
Number of units
3
Flooring type
Wood
Roof type
Shingle
Buildings
2
Listing Agency:
KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
(541) 738-7770
Listed By:
LAURA GILLOTT · License #920300248
(541) 990-7785
Added: Sep 11
Changed: Oct 23
Last Checked: Nov 1 at 1:06PM
MLS# 844917
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 Central Business-zoned triplex includes three residential units distributed across two properties. One building contains a 1-bedroom, 1-bath unit measuring 336 square feet and a 4-bedroom, 2.5-bath unit measuring 2,103 square feet. The second property is a detached 3-bedroom, 2-bath home. Combined property size is 3,666 square feet on 0.24 acres.
All three residences are occupied. The improvements date to 1948 and include wood flooring, ductless heating, shingle roofing, and a fireplace. The property is located at 766 S 2nd St in Lebanon, Oregon.
All three residences are occupied. The improvements date to 1948 and include wood flooring, ductless heating, shingle roofing, and a fireplace. The property is located at 766 S 2nd St in Lebanon, Oregon.
Key Highlights
- Three residential units across two properties
- All units currently occupied
- 1BD/1BA unit with 336 SF
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$34,606
Cap Rate
6.59%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,120
$692.1K
Cap Rate 7%
$494,371
$494.4K
Cap Rate 9%
$384,511
$384.5K
Market Conditions
NOI Build-Up for 3,666 SF
Gross rent
$50.6K $13.80/SF
− Vacancy
−$1.2K −$0.31/SF
EGI
$49.4K $13.49/SF
− OpEx
−$14.8K −$4.05/SF
NOI
$34.6K $9.44/SF
Area
Linn County, OR
Vacancy
2.28%
Lease Rate
$13.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$692,120
Cap Rate 7%
$494,371
Cap Rate 9%
$384,511
Alternative Uses
Best Use
Multifamily LT 5
$494.4K
$432.6K – $576.8K
NOI $34,606 @ 7.0% cap · market cap 6.59%
Second Best
Apartment 5plus
$455.4K
$398.5K – $531.3K
NOI $31,880 @ 7.0% cap · market cap 6.07%
Theoretical Best
Office A
$1.07M
$934.5K – $1.25M
NOI $74,758 @ 7.0% cap · market cap 14.24%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
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Open Analytics
Lease Details
3
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
759
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
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Market
Vacancy Rate% for Multifamily in West region
Frequently Asked Questions
What type of property is this?
Triplex - Three occupied residences across two properties, including a detached home and a two-unit building.
Where is this triplex located?
The property is located at 766 S 2nd St Lebanon, OR.
What is the asking price?
The asking price for this property is $525,000.
What are key features of this property?
This property features: Three residential units across two properties; All units currently occupied; 1BD/1BA unit with 336 SF
