Estimated payment $28,832/month
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!
Property Details
Home Type
- Multi-Family
Est. Annual Taxes
- $39,000
Year Built
- Built in 1970
HOA Fees
- $7,280 Monthly HOA Fees
Parking
- No Garage
Home Design
- 700 Sq Ft Home
- Slab Foundation
- Wood Siding
Bedrooms and Bathrooms
- 47 Bedrooms
- 30 Full Bathrooms
Utilities
- Forced Air Heating and Cooling System
Community Details
- Association fees include ground maintenance, snow removal, maintenance structure
- 43 Units
Listing and Financial Details
- Assessor Parcel Number 36220102012205
Map
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 | $917 | $20,450 | $3,190 | $17,260 |
| 2023 | $718 | $14,110 | $2,210 | $11,900 |
| 2022 | $732 | $14,110 | $2,210 | $11,900 |
| 2021 | $718 | $14,110 | $2,210 | $11,900 |
| 2020 | $586 | $10,720 | $2,210 | $8,510 |
| 2019 | $586 | $10,720 | $2,210 | $8,510 |
| 2018 | $586 | $10,720 | $2,210 | $8,510 |
| 2017 | $570 | $10,720 | $2,210 | $8,510 |
| 2016 | $566 | $10,720 | $2,210 | $8,510 |
| 2015 | $569 | $10,720 | $2,210 | $8,510 |
| 2014 | $602 | $11,070 | $2,000 | $9,070 |
| 2013 | $545 | $11,070 | $2,000 | $9,070 |
Property History
| Date | Event | Price | List to Sale | Price per Sq Ft |
|---|---|---|---|---|
| 10/13/2025 10/13/25 | For Sale | $3,500,000 | -- | $5,000 / Sq Ft |
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Warranty Deed | $1,076,000 | None Available | |
| Warranty Deed | $25,000 | None Available | |
| Warranty Deed | $29,300 | None Available | |
| Warranty Deed | $38,300 | Attorney | |
| Deed | $34,500 | -- |
Mortgage History
| Date | Status | Loan Amount | Loan Type |
|---|---|---|---|
| Open | $1,575,000 | Future Advance Clause Open End Mortgage | |
| Previous Owner | $63,975 | Credit Line Revolving |
Source: Western Regional Information Systems & Technology (WRIST)
MLS Number: 1041954
APN: 36-22-01-02-012.205
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