Listed by LAURA GILLOTT • KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM (DIREC: 541-990-7785).
For sale
$525,000
Est. $3,303/mo —
8
bd
•
6 ba
•
3,666
sq ft
766 S 2nd St, Lebanon, OR 97355
About this home
Fully occupied multifamily investment opportunity featuring three residential units across two properties. The first property includes a 1BD/1BA (336 SF) and a 4BD/2.5BA (2,103 SF) unit. The second property is a stand-alone 3BD/2BA home. With all units occupied, this property offers diversified rental income and an attractive opportunity for investors seeking an established income-producing asset.
Multi-familyProperty Type
1948Year Built
10,454 sq ftLot Size
$143Price/Sq.Ft.
Listed by LAURA GILLOTT• KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
Listed by RANDY DOBSON• KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM
Downtown Lebanon, located between the South Santiam River and Cheadle Lake, is a historic and civic Lebanon neighborhood with a walkable main street and a river-valley backdrop. The neighborhood’s character concentrates around Main Street near Academy Square, where brick storefronts, coffee counters, and small galleries set a steady, day-to-night rhythm. The Lebanon Public Library anchors daily routines, while the Lebanon Museum and the historic Lebanon Masonic Temple add cultural weight to the streetscape. Early-20th-century commercial blocks mix with modest infill and pocket parking, keeping the focus on sidewalks and shop windows. Seasonal events and market days gather around the square and nearby blocks. River-adjacent paths and parks frame the district with open-air breathing room.
Provided by Walk Score and Local Logic
Market insights
766 S 2nd St · $525,000
DAYS ON MARKET
3 days
The average home goes pending in 58 days.
SALE-TO-LIST
97.3%
Most homes are selling 3% below list price.
PRICE DROP
0 price drops
8% of homes in this area have had a price drop in the past month.
Property details
Interior
Exterior
Finance
Kitchen
Bathroom
Bedroom
Living
Dining
Interior features
Wood-burning fireplace
High-speed communication available
Wood flooring
Bedrooms
Total of 8 bedrooms across the property
Unit 1: 1 bedroom
Unit 2: 4 bedrooms
Unit 3: 3 bedrooms
Bonus room: see remarks
Bathrooms
Unit 1: 1 bathroom
Unit 2: 2.5 bathrooms
Unit 3: 2 bathrooms
Kitchen
Electric range
Laundry & utility
Electric water heater
Flooring
Wood flooring
Heating & cooling
Ductless heating
Exterior features
Landscaped grounds
Signage on property
Outbuildings (see remarks)
Home design
Three-unit multifamily (Donaca Apartments) with an additional stand-alone home
Dual-living configuration (see remarks)
White exterior color
Construction
Built in 1948
Continuous foundation
Wood siding
Shingle roof
Utilities
City water
City sewer
Electric water heater
HOA & community
No homeowners association
Financial info
Property used for business and investment
Fully occupied multifamily investment with three residential units across two properties providing diversified rental income
Other
Suitable for government-subsidized use (per listing data)
Electricity and solar
View estimated energy costs and solar savings for this home
As the MLS and public records start to fill up, we'll list the details here.
Public record
Public record
Zoning
Beds
—
Baths
—
Stories
—
Lot width
—
Lot depth
—
Lot size
—
Year renovated
—
Finished Sq. Ft.
—
Unfinished Sq. Ft.
—
Total Sq. Ft.
—
Year built
—
Style
Multi-Family (2-4 Unit)
County
Linn County
APN
—
Parking Spaces
—
Basement
—
Accessible
—
HOA Dues
—
Garage
—
Features
—
Last updated by owner on Sep 11, 2026.
Z-CCM
Central Business Commercial Zone
Central Business and Highway Commercial Zones. Commercial districts are centers of business and civic life. This chapter describes the three commercial districts that are designed to accommodate the range of commercial land uses in the community. The central business commercial zone Z-CCM is focused on downtown area, or the commercial and civic the core of the community generally that area south of Rose Street, north of Oak Street, primarily east of or adjacent to 4th Street, and primarily west of or adjacent to Park Street. The highway commercial zone Z-HCM regulations apply to those commercial areas outside of the central business area, generally located along or in close proximity to arterial streets. These commercial zones are intended to: To preserve and enhance areas within the commercial core of the community for concentrated retail sales and businesses that will serve the pedestrian shopper; Promote efficient use of land and urban services; Create a mixture of land uses that encourages employment and housing options in close proximity to one another; Provide formal and informal community gathering places and opportunities for social activities; Provide connections and appropriate transitions between residential areas and commercial areas; Encourage and nurture pedestrian-oriented shopping and activity in the downtown central business commercial zone, and accommodate automobile dependent uses, as well as pedestrian-oriented uses, with appropriate standards in the highway commercial zone; Provide for visitor accommodations and tourist amenities; Encourage full utilization of downtown infrastructure including parking and other amenities.
Permitted uses
Include but are not limited to:
Bank
Laundromat
Housing-Group
Housing-Single unit
Housing-Multiple units
Housing-Senior
Warehouse
Hotel / motel
Office
Educational/school
Climate risks
Flood Factor
We're working on getting current and accurate flood risk information for this home.
Fire Factor
We're working on getting current and accurate fire risk information for this home.
4/10 Heat Factor
7 hot days expected this year, 15 days in 30 years
Wind Factor
We're working on getting current and accurate wind risk information for this home.
10/10 Air Factor
11 unhealthy days expected this year, 13 days in 30 years
Provided by First Street
Historical weather
Lebanon, OR • 97355
Average low and high temperatures (°F)
46
33
50
36
57
41
63
42
69
47
77
51
86
56
85
58
77
53
64
45
52
42
49
40
Jan
Feb
Mar
Apr
May
Jun
Jul
Aug
Sep
Oct
Nov
Dec
Sun exposure
Try the sun simulator tool to see how light moves across the property at different times of day and year.
Provided by Shadowmap
Redfin Estimate for 766 S 2nd St
$523,747
$1,253 under list price of $525K
Nearby comparable homes
The Redfin Estimate uses 6 recent nearby sales, priced between $355K to $610K.