7
Lima, OH Multifamily Homes & Duplexes for Sale
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$210,000
- 3 Beds
- 2 Baths
- 1,826 Sq Ft
616 N Elizabeth St, Lima, OH 45801
616 N Elizabeth St, Lima, OH 45801 -
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$580,000
- 18 Beds
- 10 Baths
9 Unit Real Estate Package, Lima, OH 45804
9 Unit Real Estate Package, Lima, OH 45804 -
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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 Trends in Lima, OH
On average, homes in Lima, OH sell after 33 days on the market compared to the national average of 50 days. The median sale price for homes in Lima, OH over the last 12 months is $179,900, up 9% from the median home sale price over the previous 12 months.
Housing Trends
Median Sale Price
$179,900
Median Single Family Sale Price
$180,000
Median Townhouse Sale Price
$185,800
Median 2 Bedroom Sale Price
$154,500
Median 1 Bedroom Sale Price
$73,500
Average Price Per Sq Ft
$119
Number of Homes for Sale
182
Last 12 months Home Sales
863
Months of Supply
2.50
Median List Price
$180,000
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
9%
In Lima, there are currently 7 multi-family homes for sale, providing an appealing investment opportunity for buyers. With multi-family homes priced between $99,900 to $650,000, there's a range to accomodate every budget. As of July, 2025 the median home price in Lima is $180,000, while the average sale price is $206,384, offering insights into the local housing market. On average, multi-family homes spend 33 days listed before being sold. Multi-family homes include a variety of property types, from duplexes, triplexes, and fourplexes, to apartment complexes, all within a single building divided to accommodate multiple families living separately. These multi-family properties for sale offer investors the chance to generate rental income. Whether you're considering a duplex for a beginner investment or an apartment complex for a more substantial venture, there are investment properties available to meet your requirements. Explore the range of multi-family homes for sale in Lima, OH.
Lima Types of Homes for Sale
Lima Real Estate Listings
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