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About This Home

This 3-bedroom, 2-bathroom residential multi family at 1540 Salem (-1530) Av SE in Albany, OR is listed for $599,000 ($349 per sqft). Built in 1895, the home offers 1,716 sqft of living space on a 0.66 acres lot.

Agent 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 sou

nds 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.

Key Features

  • Built in 1895
  • 0.66 acre lot
  • Fireplace

Property Details

2 full
1895

Amenities

Fireplace

Monthly Cost Estimate

$3,204/mo

20% down · 6.5% · 30 years

Principal$433
Interest$2,596
Insurance$175

Estimates only. Actual payments may vary.

Location

1540 Salem (-1530) Av SE

Albany, OR 97321

Allen and Hawkins

Property Details

Flooring

CarpetTileLaminate

Pool Features

Deck

Heating

Wall FurnaceElectric (Heating)

Questions & Answers

This 3-bedroom, 2-bathroom residential multi family at 1540 Salem (-1530) Av SE is listed at $599,000 ($349/sqft). The estimated monthly payment is $2,596 based on 20% down at 6.5% interest.

Key features include: Built in 1895, 0.66 acre lot, Fireplace.

This property is listed by RICKY CEDILLO and can be reached at 5035592489 or Ricardo.Cedillo@exprealty.com.

RC

RICKY CEDILLO

Agent at EXP REALTY, LLC

(503) 559-2489

Listed by EXP REALTY, LLC · View on Broker Site

MLS# 841986· Source: listhub· Updated 3 days ago

Copyright © 2026 Willamette Valley Multiple Listing Service. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

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

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