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Listed by LAURA GILLOTT • KELLER WILLIAMS REALTY MID-WILLAMETTE - GILLOTT TEAM • DIREC: 541-451-2211

$ 775,000

Est. payment -/mo

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Active

488 2nd St Lebanon, OR 97355

3 Beds

2 Baths

2,437 SqFt

UPDATED:

Key Details

Property Type Single Family Home

Sub Type Residence

Listing Status Active

Purchase Type For Sale

Square Footage 2,437 sqft

Price per Sqft $318

Subdivision Ralstons Second Add

MLS Listing ID 837521

Bedrooms 3

Full Baths 2

Year Built 1870

Annual Tax Amount $4,395

Tax Year 2025

Lot Size 10,454 Sqft

Acres 0.24

Property Sub-Type Residence

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.

Location

State OR

County Linn

Area 80 Linn County

Rooms

Other Rooms Other(Refer to Remarks), Walk-in Pantry

Basement Full, Unfinished

Primary Bedroom Level 2/Upper

Dining Room Formal

Interior

Hot Water Electric

Heating Gas, Electric, Forced Air

Cooling Gas, Electric, Forced Air

Flooring Carpet, Vinyl, Wood

Fireplaces Type Family Room, Stove

Inclusions Currently in place appliances

Exterior

Parking Features Detached

Garage Spaces 2.0

Fence Partial

Roof Type Composition

Garage Yes

Building

Foundation Slab

New Construction No

Schools

Middle Schools Seven Oak

High Schools Lebanon

Others

Senior Community No

Acceptable Financing Cash, Conventional, Federal VA, FHA, USDA

Listing Terms Cash, Conventional, Federal VA, FHA, USDA

Epique Realty

Phone

+1(971) 240-3290

esperanzacreese@epique.me