$3,500,000

2275 N Cable Rd Unit 43 Unit Package Lima, OH 45807

Estimated payment $25,901/month

Total Views 201
2 Beds
1 Bath
816 Sq Ft
$4,289 Price per Sq Ft

About This Home

Outstanding investment opportunity! This 43-unit condo complex offers a rare chance to own an established income-producing property in a highly desirable Lima location near restaurants, shopping, and major highways.

The property features a mix of two-bedroom, one-bath and one-bedroom, one-bath condos—each with a functional layout, individual entrances, and well-maintained interiors. The units are consistently occupied and generate strong, reliable rental income, making this an ideal turnkey addition to any investor's portfolio.

Situated on a well-kept property with ample parking, this development combines long-term stability with future upside potential. Opportunities like this—where the heavy lifting is already done—don't come around often!

Listing Agent

Jeremy Huebner

Binkley Real Estate- Wapakoneta License #2022004182 Listed on: 10/13/2025

Property Details

Home Type

  • Condominium

Est. Annual Taxes

  • $785

Year Built

  • Built in 1970

HOA Fees

  • $7,280 Monthly HOA Fees

Home Design

  • 816 Sq Ft Home
  • Slab Foundation

Bedrooms and Bathrooms

  • 2 Bedrooms
  • 1 Full Bathroom

Utilities

  • Forced Air Heating and Cooling System

Listing and Financial Details

  • Assessor Parcel Number see attached addendum

Community Details

Overview

  • Association fees include common area, ground maintenance, snow removal, trash
  • Gatehouse Community
  • On-Site Maintenance

Recreation

  • Snow Removal

Property Details

Home Type

Condominium

Est. Annual Taxes

$785

Year Built

Built in 1970

Lot Details

0

HOA Fees

$7,280 per month

Listing Details

  • Property Sub Type: Condominium
  • Prop. Type: Residential
  • Directions: N. on Cable Rd. to the Gatehouse condo. All 43 units vary within the complex
  • Architectural Style: Other
  • Year Built: 1970
  • Location Property Info:Zoning2: Multi-Family
  • General Property Info:FEMA Flood Zone YN: No
  • Tax Info:Parcel _pound_: see attached addendum
  • Cooling:Central Air: Yes
  • Foundation:Slab: Yes
  • Sewer:Public Sewer: Yes
  • Water Source:Public: Yes
  • General Property Info:Basement YN: No
  • Location Property Info:Home Warranty YN: No
  • Location Property Info:Condominium Name: Gatehouse
  • Special Features: None

Interior Features

  • Basement YN: No
  • Full Bathrooms: 1
  • Total Bedrooms: 2

Exterior Features

  • Home Warranty: No
  • Foundation Details: Slab

Garage/Parking

  • Attached Garage: No
  • Parking Features: Other
  • Parking Features:Other20: Yes

Utilities

  • Cooling: Central Air
  • Cooling Y N: Yes
  • Heating: Forced Air
  • Heating Yn: Yes
  • Sewer: Public Sewer
  • Water Source: Public
  • Heating:Forced Air: Yes

Condo/Co-op/Association

  • Association Fee: 7280.0
  • Association Fee Frequency: Monthly
  • Association: Yes

Association/Amenities

  • Location Property Info:AssociationYN: Yes
  • Association Fee Includes:Trash: Yes
  • Location Property Info:Association Fee Amount: 7280.0
  • Location Property Info:Association Fee Frequency: Monthly
  • Association Fee Includes:Common Area: Yes
  • Association Fee Includes:Maintenance Grounds: Yes
  • Association Fee Includes:Snow Removal: Yes

Fee Information

  • Association Fee Includes: Common Area, Maintenance Grounds, Snow Removal, Trash

Schools

  • Junior High Dist: Elida

Lot Info

  • Parcel #: see attached addendum
  • Zoning Description: Multi-Family

Map

Range of Values:

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Home Values in the Area

Source: Public Records

Average Home Value in this Area

Source: Public Records

Tax History

Year Tax Paid Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. Land Improvement
2024 $785 $17,470 $2,730 $14,740
2023 $615 $12,040 $1,890 $10,150
2022 $627 $12,040 $1,890 $10,150
2021 $628 $12,040 $1,890 $10,150
2020 $511 $9,140 $1,890 $7,250
2019 $511 $9,140 $1,890 $7,250
2018 $511 $9,140 $1,890 $7,250
2017 $498 $9,140 $1,890 $7,250
2016 $495 $9,140 $1,890 $7,250
2015 $486 $9,140 $1,890 $7,250
2014 $708 $9,420 $1,720 $7,700
2013 $464 $9,420 $1,720 $7,700
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft
10/13/2025 10/13/25 For Sale $3,500,000 -- $4,289 / Sq Ft
Source: West Central Association of REALTORS® (OH)

Purchase History

Date Type Sale Price Title Company
Warranty Deed $1,076,000 None Available
Warranty Deed $24,000 None Available
Deed $37,000 --
Deed $32,700 --
Deed $30,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Open $1,575,000 Future Advance Clause Open End Mortgage
Previous Owner $30,000 New Conventional
Previous Owner $26,160 New Conventional
Source: Public Records

Source: West Central Association of REALTORS® (OH)

MLS Number: 308529

APN: 36-22-01-02-012.043

Ohio Allen County Lima 45805

2275 N Cable Rd Unit 43 Unit Package, Lima, OH

This home is located at 2275 N Cable Rd Unit 43 Unit Package, Lima, OH 45807 and is currently priced at $3,500,000, approximately $4,289 per square foot. This property was built in 1970. 2275 N Cable Rd Unit 43 Unit Package is a home located in Allen County with nearby schools including Elida Elementary School, Elida Middle School, and Elida High School.

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Jeremy Huebner
Listing Agent
Jeremy Huebner
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Binkley Real Estate- Wapakoneta
(419) 273-9774