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1540 Salem (-1530) Av Se, Albany, OR 97321

$579,000
  • 1540 Salem (-1530) Av Se, Albany, OR 97321 Main Photo

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Active Price Reduced by $20,000 on July 14th, 2026

Listing Courtesy of: EXP REALTY, LLC
Agency Contact: 503-559-2489
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SQUARE FEET1,716 MLS#841986
STATUS PROPERTY TYPEMulti Unit - Office SUBDIVISIONAllen and Hawkins

Property Description

Rare opportunity to own two homes on one tax lot! Whether you're looking for multi-generational living, rental income, or a flexible investment, this property offers endless possibilities. The second home is currently operating as a fully furnished mid-term rental, generating $2,500/month in income. Live in one home while offsetting your mortgage with the other, or keep both as income-producing properties. A unique setup with built-in flexibility and earning potential! Seller is a licensed real estate agent Here's an additional description that keeps a casual, buyer-focused tone:What makes this property truly special is that each home offers its own unique charm and lifestyle. The vacant home is move-in ready and features brand-new carpet and laminate flooring, making it an easy transition for an owner-occupant or future tenant. Step outside onto the spacious deck and enjoy peaceful views overlooking Periwinkle Creek-a perfect spot for your morning coffee, unwinding after a long day, or simply enjoying the sights and sounds of nature right from your backyard.The second home sits directly across from the iconic King Kone, putting one of Albany's most beloved local landmarks just steps away. This home has been meticulously maintained and features an immaculate bathroom remodel that blends modern style with everyday functionality. Currently operating as a fully furnished mid-term rental, it generates $2,500 per month in income and has proven itself as a strong revenue-producing asset.Whether you're looking to create a multi-generational living arrangement, house extended family nearby while maintaining privacy, live in one home and rent the other, or expand your real estate portfolio with a property that already has established income, the possibilities here are hard to find. Opportunities like this-two homes, one tax lot, income potential, creek views, and flexible living arrangements-don't come along often.

Property Features

Property Type: Multi Unit - Office
Basement: Full
Basement: Yes
Fenced: Yes
Lot Size: 0.66 Acres
Roof Type: Composition
Taxes: $4,480
Year Built: 1895

Units

Unit 1:
Bathroom(s): 1
Bedrooms: 2
Unit 2:
Bathroom(s): 1
Bedrooms: 1

Feature Descriptions

Bonus Room(s): Breakfast Room/Nook, Loft, Mudroom, Office, Rec Room
Days on Site: 24
Dining Room: Formal
Dishwasher: Yes
Fencing: Yes
Fireplace: Electric, Gas, Living Room
Flooring: Carpet, Laminate, Tile
Formal Dining: Yes
Foundation: Continuous
Heating/Cooling: Electric, Wall Furnace
Laundry: Washer/Dryer Hookup, Washer/Dryer Included
Lot Dimensions: 0.66 Acre(s)
Lot Type: Irregular
Outbuilding(s): Yes
Outbuilding(s): Shed
Patio: Deck
Price Per Square Foot: 337.41
Property Use: Investment, Vacant/Owner-User
Range: Electric, Gas
Units: 2
Water: City
Water Heater: Gas

Local Schools

High School: West Albany
Middle School: Memorial
Elementary School: Waverly

Listed By / Shown By

Listed By

Agency Name: EXP REALTY, LLC
Agency Contact: 503-559-2489

Shown By

Agency Title: Coldwell Banker Valley Brokers
Albany: 541.928.6317
Corvallis: 541.757.0222

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Estimate Your Payment

Estimated Payment

$ 1,830.81 per month $1,288.60 Principal & Interest $373.33 Property Tax $168.88 Homeowner's Insurance

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