Multifamily
2nd Street
2077 S Second St, Lebanon, OR 97355
Listing Price: $3,750,000
Investment Overview
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Second Street Residences, a multifamily community offering a diverse mix of apartments, townhomes, and residential-style housing in an attractive neighborhood setting. The property’s low-density design creates a residential atmosphere that stands apart from traditional apartment communities while appealing to a broad range of renters. Residents benefit from numerous convenience-oriented amenities, including central laundry facilities located on both the east and west sides of the property, abundant off-street parking throughout the community, and dedicated owner storage areas. Townhome units feature private back patios or decks enclosed by new cedar privacy fencing, while the house offers a garage and oversized backyard, further enhancing the property’s residential appeal.
Located within an established residential area of Lebanon, Second Street Residences provides convenient access to major employers, schools, healthcare services, shopping, dining, and everyday lifestyle amenities. Residents enjoy proximity to the community’s retail and service corridors while benefiting from the affordability and quality of life that continue to attract households to the Mid-Willamette Valley. The property’s location supports strong renter demand from local workforce households seeking a balance of convenience, privacy, and neighborhood character.
From an investment perspective, Second Street Residences offers compelling upside potential. Current rents remain below market levels, with comparable properties indicating the opportunity to achieve more than 18% rental growth through continued lease turnover and rent optimization. Additional value may be realized through implementation of a Ratio Utility Billing System (RUBS), allowing future ownership to recapture utility expenses and improve operating efficiency. Combined with its desirable amenities, strong location, and meaningful revenue growth potential, Second Street Residences represents an attractive multifamily investment opportunity.
2nd Street
Investment Highlights
- ESTABLISHED LEBANON COMMUNITY - 34 Units Built in 1977 Offering Diverse Housing Options in a Desirable Neighborhood
- SIGNIFICANT RENT UPSIDE - Market Comparables Indicate Opportunity for 18%+ Rental Growth Through Lease Optimization
- LOW DENSITY DESIGN - Spacious Community Layout Creates a Neighborhood Feel Rarely Found in Multifamily Assets
- DIVERSE EXTERIOR FINISHES - Updated Vinyl Windows Throughout, Vinyl Siding on House, T1-11 Apartments, and Board-and-Batten Townhomes
- RESIDENT-ORIENTED AMENITIES - Private Outdoor Living Areas, Community Laundry Facilities, and Abundant Off-Street Parking
- EXPENSE RECOVERY POTENTIAL - Opportunity to Implement RUBS and Improve Long-Term Operating Performance
Exclusively Listed By
Listing Price: $3,750,000
Investment Highlights
- ESTABLISHED LEBANON COMMUNITY - 34 Units Built in 1977 Offering Diverse Housing Options in a Desirable Neighborhood
- SIGNIFICANT RENT UPSIDE - Market Comparables Indicate Opportunity for 18%+ Rental Growth Through Lease Optimization
- LOW DENSITY DESIGN - Spacious Community Layout Creates a Neighborhood Feel Rarely Found in Multifamily Assets
- DIVERSE EXTERIOR FINISHES - Updated Vinyl Windows Throughout, Vinyl Siding on House, T1-11 Apartments, and Board-and-Batten Townhomes
- RESIDENT-ORIENTED AMENITIES - Private Outdoor Living Areas, Community Laundry Facilities, and Abundant Off-Street Parking
- EXPENSE RECOVERY POTENTIAL - Opportunity to Implement RUBS and Improve Long-Term Operating Performance
Investment Overview
The Rhoades Group of Marcus & Millichap is pleased to exclusively represent the sale of Second Street Residences, a multifamily community offering a diverse mix of apartments, townhomes, and residential-style housing in an attractive neighborhood setting. The property’s low-density design creates a residential atmosphere that stands apart from traditional apartment communities while appealing to a broad range of renters. Residents benefit from numerous convenience-oriented amenities, including central laundry facilities located on both the east and west sides of the property, abundant off-street parking throughout the community, and dedicated owner storage areas. Townhome units feature private back patios or decks enclosed by new cedar privacy fencing, while the house offers a garage and oversized backyard, further enhancing the property’s residential appeal. Located within an established residential area of Lebanon, Second Street Residences provides convenient access to major employers, schools, healthcare services, shopping, dining, and everyday lifestyle amenities. Residents enjoy proximity to the community’s retail and service corridors while benefiting from the affordability and quality of life that continue to attract households to the Mid-Willamette Valley. The property’s location supports strong renter demand from local workforce households seeking a balance of convenience, privacy, and neighborhood character. From an investment perspective, Second Street Residences offers compelling upside potential. Current rents remain below market levels, with comparable properties indicating the opportunity to achieve more than 18% rental growth through continued lease turnover and rent optimization. Additional value may be realized through implementation of a Ratio Utility Billing System (RUBS), allowing future ownership to recapture utility expenses and improve operating efficiency. Combined with its desirable amenities, strong location, and meaningful revenue growth potential, Second Street Residences represents an attractive multifamily investment opportunity.
Exclusively Listed By
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