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631-671 S Main St 60 Unit Apartment Building $6,843,650 CAD ($114,061 CAD/Unit) 3.54% Cap Rate Lebanon, OR 97355
Investment Highlights
- Strong income stream from existing lease spaces
- 0.37 acre off street parking
- upside of 60 +/- hotel or apartment spaces over two floors
Executive Summary
Historic downtown hotel established in 1910 approximately 33,612SF. the ground floor fronts 4 gas front retail spaces 100% occupied. The first and second floors are in renovation for an upside of 60+/- boutique hotel or apartment spaces. Many upgrades including new membrane roof in 2020, electrical and plumbing through-out. 10 apartment spaces are 100% occupied. This portfolio includes a 0.37 acre off street parking lot.
Property Facts
| Price | $6,843,650 CAD | Apartment Style | Low-Rise |
| Price Per Unit | $114,061 CAD | Building Class | C |
| Sale Type | Investment | Lot Size | 0.39 AC |
| Cap Rate | 3.54% | Construction Status | Under Renovation |
| Sale Condition | Bulk/Portfolio Sale | Building Size | 32,484 SF |
| No. Units | 60 | No. Stories | 3 |
| Property Type | Multifamily | Year Built/Renovated | 1913/2026 |
| Property Subtype | Apartment | ||
| Zoning | Central Business - Central Business | ||
| Price | $6,843,650 CAD |
| Price Per Unit | $114,061 CAD |
| Sale Type | Investment |
| Cap Rate | 3.54% |
| Sale Condition | Bulk/Portfolio Sale |
| No. Units | 60 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Low-Rise |
| Building Class | C |
| Lot Size | 0.39 AC |
| Construction Status | Under Renovation |
| Building Size | 32,484 SF |
| No. Stories | 3 |
| Year Built/Renovated | 1913/2026 |
| Zoning | Central Business - Central Business |
Amenities
Unit Amenities
- Cable Ready
- Heating
- Kitchen
- Oven
- Range
- Tub/Shower
Site Amenities
- 24 Hour Access
- Tenant Controlled HVAC
- Recycling
- Trash Pickup - Curbside
- Walk-Up
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| 1+1 | 40 | - | 500 |
1 1
Walk Score®
Very Walkable (79)
Bike Score®
Very Bikeable (75)
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 CAD | |
| Land Assessment | $0 CAD | Total Assessment | $823,250 CAD |
Property Taxes
Parcel Numbers
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$823,250 CAD
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631-671 S Main St
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