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Listing provided courtesy of KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM: 541-451-2211.

488 S 2nd St

Lebanon, OR 97355
  • $775,000
  • STATUS: Active
  • ON SITE: 148 Days
  • MLS #: 837521
UPDATED: 35 min ago
$775,000
  • 3
    BEDS
  • 0.24
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 2,437
    SQFT
  • $318
    $/SQFT
Neighborhood:
Type:
Single-Family Home
Built:
1870
County:

School Information

Elementary School:
Middle School:
High School:
Listing provided courtesy of KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM: 541-451-2211. Listing information © 2026 Willamette Valley Multiple Listing Service



Description

Step into a rare piece of Lebanon history with this iconic 150+ year-old home, rich with character, craftsmanship, and opportunity. Built in the early days of downtown Lebanon, this one-of-a-kind residence blends timeless architectural detail with modern flexibility on an expansive 10,000+ sq ft lot just two blocks from the heart of town. From its unique stained glass, distinctive windows, elegant period details, and oversized rooms to its welcoming gardens and mature trees, this home offers a presence and story that cannot be replicated.Once overlooking open farmland, fields, and valley views, the home still carries the charm of a bygone era while offering the space and function today’s buyers are seeking. Imagine relaxing on the upper deck and taking in the setting, or enjoying long soaks in the oversized bathrooms with classic clawfoot tubs. Designed to accommodate a full house, the kitchen features generous cabinetry, large pantry space, and three refrigerators—ideal for entertaining, extended living, rental use, or short-term stay potential.With approximately 2,400 sq ft of finished living space plus a 1,200 sq ft basement already equipped with plumbing, electrical, and gas, there is tremendous potential to expand the home to over 3,600 sq ft. Create additional living quarters, guest space, a studio, recreation area, workshop, or explore future income-producing possibilities. The large lot also offers room to consider an ADU, garden expansion, outdoor entertaining areas, or additional parking, with buyers to verify all uses.Outside, meticulous landscaping surrounds the home, supported by an 8-station sprinkler system serving approximately 48 sprinkler heads. The grounds create a private, peaceful environment while keeping you moments from restaurants, shops, services, community events, and Lebanon’s growing downtown energy.Whether used as a grand personal residence, multigenerational home, investment property, student housing, short-term rental, or a legacy restoration opportunity, this property offers far more than square footage. It is a work of art, a piece of local history, and a lifestyle—filled with warmth, elegance, flexibility, and future potential. Homes with this level of history, scale, location, and character rarely come available.

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Willamette Valley MLS logo © 2026 Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Data last updated: 2026-07-12T10:08:42.333.
www.suelongrealty.com/homes/173028301
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488 S 2nd St Lebanon, OR 97355

  • Price: $775,000
  • Status: Active
  • On Site: 148 Days
  • Updated: 35 min ago
  • MLS #: 837521
3
Beds
2
Baths
0
½ Baths
0.24
Acres
2,437
SQFT
$318
$/SQFT
1870
Built
Neighborhood:
Ralstons Second Add
County:
Linn
Area:
80 LINN COUNTY
Elementary School:
Green Acres
Middle School:
Seven Oak
High School:
Lebanon
Property Description
Step into a rare piece of Lebanon history with this iconic 150+ year-old home, rich with character, craftsmanship, and opportunity. Built in the early days of downtown Lebanon, this one-of-a-kind residence blends timeless architectural detail with modern flexibility on an expansive 10,000+ sq ft lot just two blocks from the heart of town. From its unique stained glass, distinctive windows, elegant period details, and oversized rooms to its welcoming gardens and mature trees, this home offers a presence and story that cannot be replicated.Once overlooking open farmland, fields, and valley views, the home still carries the charm of a bygone era while offering the space and function today’s buyers are seeking. Imagine relaxing on the upper deck and taking in the setting, or enjoying long soaks in the oversized bathrooms with classic clawfoot tubs. Designed to accommodate a full house, the kitchen features generous cabinetry, large pantry space, and three refrigerators—ideal for entertaining, extended living, rental use, or short-term stay potential.With approximately 2,400 sq ft of finished living space plus a 1,200 sq ft basement already equipped with plumbing, electrical, and gas, there is tremendous potential to expand the home to over 3,600 sq ft. Create additional living quarters, guest space, a studio, recreation area, workshop, or explore future income-producing possibilities. The large lot also offers room to consider an ADU, garden expansion, outdoor entertaining areas, or additional parking, with buyers to verify all uses.Outside, meticulous landscaping surrounds the home, supported by an 8-station sprinkler system serving approximately 48 sprinkler heads. The grounds create a private, peaceful environment while keeping you moments from restaurants, shops, services, community events, and Lebanon’s growing downtown energy.Whether used as a grand personal residence, multigenerational home, investment property, student housing, short-term rental, or a legacy restoration opportunity, this property offers far more than square footage. It is a work of art, a piece of local history, and a lifestyle—filled with warmth, elegance, flexibility, and future potential. Homes with this level of history, scale, location, and character rarely come available.
Exterior Features

Fenced Yard Partial Foundation Slab Garage Capacity 2 Garage Type Detached Home Style 2 Story Landscape Yes Patio Covered Deck Roof Composition Siding Wood Timber No Underground Sprinklers Yes

Interior Features

Basement FullUnfinished Baths Level1 Main 1 Baths On Level2 Upper 1 Bedroom2 Level 2/Upper Bedroom3 Level 2/Upper Bonus Rooms Other(Refer to Remarks)Walk-in Pantry Dining Formal Dining Room Level 1/Main Dishwasher Yes Disposal Yes Family Room Level 1/Main Fireplace Family RoomStove Flooring CarpetVinylWood Heating And Cooling GasElectricForced Air Kitchen Level 1/Main Living Room Level 1/Main Master Bedroom Level 2/Upper Range Facility Range Included Total Baths 2 Water Heater Electric

Property Features

55 Plus Housing No Dual Living No Flood Plain No Green Home No Handicap Amenities No High Speed Comm Access Available Home Warranty Negotiable Homeowners Association No Association Inclusions Currently in place appliances New Construction No Rv Amenities Area/Room For Security System No Sewer Yes Source Of Sq F County Tax Amount 4395 Tax Years 2025 Terms Seller Will Consider Federal VACashFHAConventionalUSDA Water CityWell Water Rights No

© 2026 Willamette Valley Multiple Listing Service. All rights reserved.


Willamette Valley MLS logo © 2026 Based on information from Willamette Valley Multiple Listing Service, which neither guarantees nor is in any way responsible for its accuracy. All data is provided AS IS and with all faults. Data maintained by Willamette Valley Multiple Listing Service may not reflect all real estate activity in the market. Data last updated: 2026-07-12T10:08:42.333.
 
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Keller Williams Mid-Willamette
201 NW 3rd St
Corvallis OR, 97330
Listing provided courtesy of KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM: 541-451-2211. Listing information © 2026 Willamette Valley Multiple Listing Service