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$1,185,000

  • Sold
  • Sold
  • Multi-Family
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Single-story 10-unit apartment complex located in West Lebanon. Built in 1948, the property offers (3) 2 bed / 1 bath units and (7) 1 bed / 1 bath units. As-is cap rate is 7.67% Cap on Actuals, 8.46% on Proforma. Two units have been fully renovated, offering immediate rent growth potential as leasing demand remains strong. The property features a central courtyard, off-street parking, and onsite laundry - appealing amenities in a quiet, residential neighborhood.

Full Property Details for 591 W Sherman St

General

  • Sold For: $1,185,000
  • Taxes: $6,595 (2024)
  • Status: Sold
  • Type: Multi-Family
  • Source: RWMLS
  • MLS ID: 639912323
  • Added to Site: 265 day(s) ago

Rental Information

  • Rent Includes: None

Location

  • County: Linn
  • Driving Directions: 7th St S

School Information

  • Midd School District: Seven Oak
  • Middle School: Seven Oak

Community

  • Community Name: 221 - Linn County

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Other
  • Heating Fuel: Electricity

Utilities

  • Sewer: Public Sewer
  • Water: Public Water

Structural Information

  • Property Detached: Yes
  • Stories/Levels: 1
  • Year Built: 1948

Lot Features

  • Lot Size (Acres): 0.38
  • Lot Size (Sq. Ft.): 16,552
  • Lot Size: 15, 000 to 19, 999 SqFt

Financial Considerations

  • Tax Amount: $6,595.32
  • Tax Year: 2024
  • Terms: Cash, Conventional

Disclosures and Reports

  • Property ID: 180006

Listed and Sold by SMI Commercial Real Estate LLC (503) 390-6060, Eric Swanson (541) 990-3795

Listing agent

— 591 W Sherman St —

  • Eric Swanson

    SMI Commercial Real Estate LLC

    503-390-6060

Get Pre-Approved Today

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with our affiliated lender
NMLS#: 1598647

Get Pre-Approved

Be ready to buy your new home!

with our affiliated lender
NMLS#: 1598647

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Schools serving 591 W Sherman St

School District:Lebanon Community School District 9
NameGradesDistance
Green Acres School
700 South 10th Street, Lebanon, OR 97355
K-50.3 mi
Seven Oak Middle School
550 Cascade Drive, Lebanon, OR 97355
6-82.3 mi
Lebanon High School
1700 South 5th Street, Lebanon, OR 97355
9-120.7 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
12/12/2025
Sold
$1,185,000
-0.84%
MLS
8/06/2025
Price Reduced
$1,195,000
-7.72%
MLS
4/28/2025
Listed
$1,295,000
—
MLS
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Listed and Sold by SMI Commercial Real Estate LLC (503) 390-6060, Eric Swanson (541) 990-3795

Just Listed near 591 W Sherman St

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32900 Old Church Rd, Tangent, OR 97389 - Photo 1 Just Listed
$479,000

32900 Old Church Rd  Tangent, OR 97389

  • Single Family
  • Active
  • Updated 2 days ago
  • 3
    Beds
  • 2
    Total Baths
  • 1,659
    Sq. Ft.
Listed by HomeSmart Realty Group, Wendi Melcher
32900 Old Church Rd, Tangent, OR 97389 - Photo 1 Just Listed
$479,000

32900 Old Church Rd  Tangent, OR 97389

  • Single Family
  • Active
  • Updated 2 days ago
  • 3
    Beds
  • 2
    Total Baths
  • 1,659
    Sq. Ft.
Listed By: WENDI. MELCHER | Homesmart Realty Group - Sweet Home and BRITTANI. ALBRECHT | Homesmart Realty Group - Sweet Home
6284 NE Barker St, Albany, OR 97321 - Photo 1 Just Listed
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6284 NE Barker St  Albany, OR 97321

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Listed By: ELIZABETH. BOISVERT | Exp Realty, Llc
1075 8th Av SW, Albany, OR 97321 - Photo 1 Just Listed
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1075 8th Av SW  Albany, OR 97321

  • Single Family
  • Active
  • Updated 2 days ago
  • 4
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  • 1
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  • 1,667
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Listed By: ANDON. MARTIN | Keller Williams Realty Mid Willamette

Price Reduced near 591 W Sherman St

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31919 N Lake Creek (Unit 35 ) Dr, Tangent, OR 97389 - Photo 1 Price Reduced
-$5,000 (-3.4%)
$142,000

31919 N Lake Creek (Unit 35 ) Dr  #35  Tangent, OR 97389

  • Manufactured Home
  • Active
  • Updated 4 days ago
  • 3
    Beds
  • 2
    Total Baths
  • 1,404
    Sq. Ft.
Listed By: ROBERT. ARNOLD | Keller Williams Realty -Albany
2419 Ermine St SE, Albany, OR 97322 - Photo 1 Price Reduced
-$6,000 (-1.36%)
$433,900
Open House

2419 Ermine St SE  Albany, OR 97322

  • Single Family
  • Active
  • Updated 2 days ago
  • 4
    Beds
  • 2
    Total Baths
  • 1,540
    Sq. Ft.
Listed By: BRIAN. MCVAY | Homesmart Realty Group - Keizer and APRIL. MCVAY | Homesmart Realty Group - Keizer
1591 Kallie Pl NW, Albany, OR 97321 - Photo 1 Price Reduced
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1591 Kallie Pl NW  Albany, OR 97321

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Listed By: JAMES. HURLEY | Oregon First
33844 Sunnyview Dr NE, Albany, OR 97322 - Photo 1 Price Reduced
-$10,000 (-1.13%)
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33844 Sunnyview Dr NE  Albany, OR 97322

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  • 3
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  • 3,191
    Sq. Ft.
Listed By: DAVID S. LEVERICH | Exp Realty, Llc

Recent Sales near 591 W Sherman St

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591 W Sherman St, Lebanon, OR 97355 - Photo 1 Sold
$1,185,000

591 W Sherman St  Lebanon, OR 97355

  • Multi-Family
  • Closed
  • 13
    Total Beds
Listed and Sold by ERIC. SWANSON | Smi Real Estate
31381 Georgetown Ln, Lebanon, OR 97355 - Photo 1 Sold
$1,328,000

31381 Georgetown Ln  Lebanon, OR 97355

  • Single Family
  • Closed
  • 5
    Beds
  • 5
    Total Baths
  • 4,405
    Sq. Ft.
Listed By: SHASTA. KRAKE | Realty One Group Willamette Valley
Sold by JENNIFER. MCCLEAN | Connected Real Estate Group
31381 Georgetown Ln, Lebanon, OR 97355 - Photo 1 Sold
$1,328,000

31381 Georgetown Ln  Lebanon, OR 97355

  • Single Family
  • Sold
  • 5
    Beds
  • 3
    Total Baths
  • 4,405
    Sq. Ft.
Listed by Realty One Group Willamette Valley, Shasta Krake
Sold by Non Rmls Broker, OR and WA Non Rmls
37617 Elizabeth Dr, Lebanon, OR 97355 - Photo 1 Sold
$1,164,000

37617 Elizabeth Dr  Lebanon, OR 97355

  • Single Family
  • Closed
  • 4
    Beds
  • 5
    Total Baths
  • 7,862
    Sq. Ft.
Listed By: LAURA. GILLOTT | Keller Williams Realty Mid-Willamette - Gillott Team and MARYANN. HONEYMAN | Keller Williams Realty Mid-Willamette - Gillott Team
Sold by COREY. BARON | Re/Max Integrity Corvallis Branch

591 W Sherman St, Lebanon, OR 97355 (MLS# 639912323) is a Multi-Family property that was sold at $1,185,000 on December 12, 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.