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Lima 25 Portfolio 2 Multifamily Properties Offered at $2,250,000 in Lima, OH
Investment Highlights
- Portfolio is currently 96%+ occupied, providing investors with stable in-place cash flow from day one
- Strong built-in equity opportunity as many recent sales in the surrounding area have traded for $50,000 or more above current pricing
- Significant renovation potential exists, with upgraded finishes and modernized units supporting $250+ rent growth compared to nearby comps
Executive Summary
Marcus & Millichap is pleased to present the Lima 25 Portfolio, a 25-property rental home package located in Lima, Ohio, a regional hub within Northwest Ohio. This portfolio provides investors with immediate scale in a supply-restricted market, offering both stable in-place cash flow and a clear path to rent growth through renovations and management efficiencies.
The portfolio is comprised of 23 single-family homes and 2 duplexes, totaling 27 rental units. The current mix includes 9 two-bedroom homes, 14 three-bedroom homes, three two-bedroom duplex units, and one three-bedroom duplex unit. With 96%+ occupancy and average effective rents of $897 per unit, the portfolio is well-positioned to capture upside, as comparable properties in the market are achieving rents $250 or more above current levels.
Lima’s growing economy is anchored by major employers such as Ford, Procter & Gamble, Mercy Health, and Marathon Petroleum, alongside nearly $1 billion in recent capital investment and redevelopment. These strong employment anchors, paired with the city’s affordability and high renter demand, create a durable foundation for consistent occupancy and long-term rent growth. For investors, the Lima 25 Portfolio offers a unique opportunity to acquire immediate scale with substantial value-add potential in a strengthening regional market.
Deal Vault Link with OM and RR: https://www.marcusmillichap.com/properties/188652/lima-25-portfolio
The portfolio is comprised of 23 single-family homes and 2 duplexes, totaling 27 rental units. The current mix includes 9 two-bedroom homes, 14 three-bedroom homes, three two-bedroom duplex units, and one three-bedroom duplex unit. With 96%+ occupancy and average effective rents of $897 per unit, the portfolio is well-positioned to capture upside, as comparable properties in the market are achieving rents $250 or more above current levels.
Lima’s growing economy is anchored by major employers such as Ford, Procter & Gamble, Mercy Health, and Marathon Petroleum, alongside nearly $1 billion in recent capital investment and redevelopment. These strong employment anchors, paired with the city’s affordability and high renter demand, create a durable foundation for consistent occupancy and long-term rent growth. For investors, the Lima 25 Portfolio offers a unique opportunity to acquire immediate scale with substantial value-add potential in a strengthening regional market.
Deal Vault Link with OM and RR: https://www.marcusmillichap.com/properties/188652/lima-25-portfolio
Taxes & Operating Expenses (Pro Forma - 2026) |
Annual |
|---|---|
| Gross Rental Income |
$387,600
|
| Other Income |
-
|
| Vacancy Loss |
$34,341
|
| Effective Gross Income |
$353,259
|
| Taxes |
$23,100
|
| Operating Expenses |
$85,787
|
| Total Expenses |
$108,887
|
| Net Operating Income |
$244,372
|
Taxes & Operating Expenses (Pro Forma - 2026)
| Gross Rental Income | |
|---|---|
| Annual | $387,600 |
| Other Income | |
|---|---|
| Annual | - |
| Vacancy Loss | |
|---|---|
| Annual | $34,341 |
| Effective Gross Income | |
|---|---|
| Annual | $353,259 |
| Taxes | |
|---|---|
| Annual | $23,100 |
| Operating Expenses | |
|---|---|
| Annual | $85,787 |
| Total Expenses | |
|---|---|
| Annual | $108,887 |
| Net Operating Income | |
|---|---|
| Annual | $244,372 |
Property Facts
| Price | $2,250,000 | Status | Under Contract |
| Price / SF | $283.16 / SF | Number of Properties | 2 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 8.02% | Total Building Size | 7,946 SF |
| Sale Type | Investment | Total Land Area | 0.25 AC |
| Price | $2,250,000 |
| Price / SF | $283.16 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 8.02% |
| Sale Type | Investment |
| Status | Under Contract |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 7,946 SF |
| Total Land Area | 0.25 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 114 Partridge Pl, Lima, OH 45801 | Multifamily | 4,013 SF | 1980 | - |
| 1133 Bahama Dr, Lima, OH 45801 | Multifamily | 3,933 SF | 1972 | - |
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Austin Sum -
Samuel Petrosino -
Nicholas Andrews -
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