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$1,185,000
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Property Description
Single story 10-unit apartment complex built in 1948 in West Lebanon. Building consists of (3) 2 bed / 1 bath units and (7) 1 bed / 1 bath units. Currently offered at a 6.87% cap rate on actuals and an 7.88% on highest achieved rents. Two of the ten units have been fully renovated. Property features a central courtyard, some off-street parking and onsite laundry room - appealing amenities in a quiet, residential neighborhood.
Full Property Details
Full Property Details for 591 W Sherman St
General
- Sold For: $1,185,000
- Taxes: $6,595 (21-22)
- Status: Closed
- Type: Multi-Family
- Source: WVMLS
- MLS ID: 828226
- Added to Site: 265 day(s) ago
Interior
- Flooring: Carpet
Rooms
Bathrooms
- Total Bathrooms: 10
Bedrooms
- Total Bedrooms: 13
Location
- County: LINN COUNTY
- Subdivision: AF Bahrke's Fruitdale A
- Complex: 591 W Sherman St Lebanon
Structural Information
- Square Feet: 6,126
- Year Built: 1948
Unit Information
- Units in Building: 10
Unit 1
- Square Feet: 768
- Total Bathrooms: 1
- Bedrooms: 2
Unit 2
- Square Feet: 546
- Total Bathrooms: 1
- Bedrooms: 1
Unit 4
- Level: Ticor
Unit 5
- Square Feet: 2
Lot Features
- Lot Size (Acres): 0.38
- Frontage Feet: 546
- Lot Description: 6 & 7
Financial Considerations
- Price Per Sq. Ft.: $193.44
- Price Per Acre: $3,407,894.74
- Assessment Year: 1948
- Tax Amount: $6,595
- Tax Year: 21-22
Disclosures and Reports
- Lot Number: 6 & 7
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Schools
Schools serving 591 W Sherman St
School District:Lebanon Community School District 9
| Name | Grades | Distance |
|---|---|---|
Green Acres School 700 South 10th Street, Lebanon, OR 97355 | K-5 | 0.3 mi |
Seven Oak Middle School 550 Cascade Drive, Lebanon, OR 97355 | 6-8 | 2.3 mi |
Lebanon High School 1700 South 5th Street, Lebanon, OR 97355 | 9-12 | 0.7 mi |
Disclaimer:
School attendance boundaries provided by Pitney Bowes and are for reference only. Contact the school directly to verify enrollment eligibility.
Price & Sales History for 591 W Sherman St
Date
Details
Price
Change
Source
12/05/2025
Sold
$1,185,000
-8.49%
MLS
7/02/2025
Price Reduced
$1,295,000
-7.17%
MLS
4/28/2025
Listed
$1,395,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.
591 W Sherman St, Lebanon, OR 97355 (MLS# 828226) is a Multi-Family property that was sold at $1,185,000 on December 05, 2025. Want to learn more about 591 W Sherman St? Do you have questions about finding other Multi-Family real estate for sale in Lebanon? You can browse all Lebanon real estate or contact a Coldwell Banker agent to request more information.

