8

Lima, OH Multifamily Homes & Duplexes for Sale

Section Image Section Image
  • /5

    $500,000

    • 4 Beds
    • 1,722 Sq Ft

    8 unit House Package, Lima, OH 45805

    Excellent investment opportunity featuring an 8-unit residential portfolio across five properties, offered together as one package for $500,000. 323 Maple Ln is being used as the lead MLS listing property only; the list price reflects the entire portfolio, not 323 Maple Ln individually. The package includes 609 N Cole St, 323 Maple Ln, 332/336 S Pierce St with four 1-bedroom units, 618 Faurot

    Agent Photo

    Seth Ciminillo

    Dye Real Estate & Land Company

    8 unit House Package, Lima, OH 45805
  • /26

    $250,000

    • 7 Beds
    • 3 Baths

    1063 W West Market St, Lima, OH 45805

    Well-maintained tri-plex investment opportunity with all three units curently occupied, providing immediate rental income. Units 1 & 2 each feature 3 bedrooms and 1 full bath, currently renting for $1,000 per month per unit. Unit 3 offers 1 bedroom and 1 full bath with current rent at $700 per month. Property owner pays water, sewer, trash, and snow removal. Each unit has its own designated break

    Agent Photo

    April LaRue

    Cowan, Realtors

    1063 W West Market St, Lima, OH 45805
  • /14

    $139,000

    $10K PRICE DROP
    • 3 Beds
    • 2 Baths

    504 S Shawnee St, Lima, OH 45804

    Prime Investment Opportunity Steps from Lima Memorial Hospital. Maximize your portfolio with this high-performing income property generating more than $15,000 in annual net income, this unique setup offers immediate cash flow in a location second to none for rental demand. Situated within easy walking distance of Lima Memorial Hospital, this well maintained property is perfectly positioned to

    Tim Stanford Superior Plus Realtors

    504 S Shawnee St, Lima, OH 45804
  • /24

    $2,650,000

    • 91 Beds
    • 33 Baths

    30 Property Portfolio, Lima, OH 45804

    Stabilized 30-Unit Residential PortfolioExclusive investment opportunity to acquire a robust portfolio of thirty single-family homes. This turn-key acquisition is offered at a purchase price of $2,650,000, representing an efficient entry into the Northwest Ohio market at a price per door of approximately $88,333. The valuation of $2,650,000 aligns with the analyzed market value of

    Tim Stanford Superior Plus Realtors

    30 Property Portfolio, Lima, OH 45804
  • /7

    $142,000

    $6K PRICE DROP
    • 5 Beds
    • 2 Baths
    • 2,711 Sq Ft

    705 W Elm St, Lima, OH 45801

    Investor opportunity in Lima -- this duplex offers solid income potential and plenty of space for tenants. The lower unit features approximately 1,496 sq. ft. with 3 bedrooms and 1 full bath. Inside, you'll find a spacious layout, hardwood flooring, an updated bathroom, central air, and gas forced-air heat. Washer and dryer hookups are located in the basement. The downstairs unit currently rents

    Lindsay McDonald Oakridge Realty & Auction Co.

    705 W Elm St, Lima, OH 45801
  • /37

    $2,400,000

    $100K PRICE DROP
    • 42 Beds
    • 30 Baths

    1212 Bellefontaine Ave, Lima, OH 45804

    Welcome to 1212 Bellefontaine Avenue! This turnkey investment property features 30 totally remodeled units! 12 of which are 2 bedroom units and 18 of which are 1 bedroom units. This brick building had a remodel completed in 2025 and is ready for new ownership! Every unit has new floors, paint, bathrooms, and appliances. Community laundry room with coin machines, fitness room, low vacancy & a

    Dalton Brenner Berkshire Hathaway Professional Realty

    1212 Bellefontaine Ave, Lima, OH 45804
  • /8

    $91,250

    • 2 Beds
    • 1 Bath
    • 816 Sq Ft

    2275 N Cable Rd Unit 97, Lima, OH 45807

    Welcome to the Gatehouse Community. A well kept desirable community. This is a upper level unit with a balcony overlooking the common area. It is a nicely updated unit with neutrel color palet. NEW A/C unit Each unit has an assigned parking space with your unit # on it. Currently rented so please give 48 hour notice for showings. You will have one reserved parking spot with your unit # on it. The

    Dawn Iiames CCR Realtors

    2275 N Cable Rd Unit 97, Lima, OH 45807
  • /5

    $215,000

    • 4 Beds
    • 2 Baths
    • 2,176 Sq Ft

    2113 Kimberly Dr, Lima, OH 45805

    Great investment opportunity in the desirable Elida School District! This well-located duplex offers immediate cash flow with strong upside potential. Unit 2113 currently rents for $725/month and unit 2115 rents for $625/month, with tenants paying all utilities.The area shows high rental demand and room for rent increases, making this a solid option for investors looking to add value over

    Dylan Byers Cowan, Realtors

    2113 Kimberly Dr, Lima, OH 45805

Why Live in Lima

Lima's cultural scene centers around the Veterans Memorial Civic and Convention Center, which hosts diverse performances throughout the year. Art lovers frequent ArtSpace/Lima for rotating exhibitions, while history buffs explore the Allen County Museum's extensive local collections. The city's outdoor spaces include Ottawa Metro Park with its tranquil lakes and walking trails, plus Schoonover Park featuring a public pool and playground. The Johnny Appleseed Metropolitan Park District maintains several recreational areas, including the Lippincott Bird Sanctuary for nature observation. Local dining ranges from upscale American cuisine at The Met in the historic Metropolitan Block to authentic Mexican fare at El Cazador.

The Lima housing market presents affordable options across multiple neighborhoods. Single family homes make up the primary housing stock, with a median price of $180,000 citywide. The Lakewood West neighborhood commands the highest median single family home price at $180,000, while Fifth Ward presents more affordable options with a median of $43,300. Condominiums provide additional choices, with one bedroom units at a median price of $70,000 and two bedroom units at $152,000.

The cost of living in Lima sits 7.6% below the national average. A family with school age children needs approximately $98,000 annually to live comfortably, while renters require about $51,000. Property taxes in Allen County stand at 1.13%, comparing favorably to nearby Findlay at 1% and Wapakoneta at 0.96%. The local income tax rate is 1.50%. Education options include the A rated Maplewood Elementary School and Lima Central Catholic High School, rated B plus. The Ohio State University Lima Campus serves higher education needs. The Allen County Regional Transit Authority provides public transportation throughout the region.

Home Price Trends

Median Sale Price
$185,000
Median Single Family Sale Price
$174,500
Median Townhouse Sale Price
$123,750
Median 2 Bedroom Sale Price
$153,000
Median 1 Bedroom Sale Price
$130,000
Average Price Per Sq Ft
$129
Number of Homes for Sale
89
Last 12 months Home Sales
350
Months of Supply
3.10
Median List Price
$180,000
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
12%
How to Buy a Home How to Finance a Home How to Sell a Home