Duplexes · Fourplexes · Small Apartments
Multi-Family & Investment Properties in Lima, OH
Cash-flowing duplexes, triplexes, fourplexes, and small apartment buildings across Lima, Allen County, and West Central Ohio — underwritten by people who actually own rentals here.
Lima has one of the strongest cash-on-cash rental markets in Ohio — entry-priced 2–4 unit buildings still pencil at meaningful returns when the rest of the Midwest is closer to break-even. The LV5 Real Estate Team owns rental property in Allen County, so when we underwrite a deal for you, the rent comps, vacancy assumptions, and capex reserves come from people actively writing the same checks.
For first-time house hackers, an FHA or conventional 5%-down loan on a 2–4 unit you live in is one of the fastest paths to owning income property — and Lima's price points make it realistic on a starting salary. For experienced investors, we underwrite DSCR loans, portfolio refinances, and BRRRR exits with local lenders who understand Lima rental rates and don't cap you at four properties.
We also vet property managers, contractors, and turnover crews. LV5 Real Estate Team can hand you a stabilized rental ready to cash flow on day one, or a value-add fixer if that's your strategy. Browse current inventory below, then call us — we'll send the rent comps, expense numbers, and our underwriting before you spend a Saturday driving by.
Newest listings
Showing the 22 most recent of 22
Active$440,000105 Wapa
Wapakoneta, OH 45895
Listing courtesy of Binkley Real Estate- Wapakoneta
Multi-Family · MLS #311638
Active$110,000942 Rice
Lima, OH 45805
Listing courtesy of CCR Realtors
Multi-Family · MLS #311452
Active$680,0009 Unit package
Lima, OH 45805
Listing courtesy of CCR Realtors
Multi-Family · MLS #311450
Active$135,000842 Wayne
Lima, OH 45801
Listing courtesy of CCR Realtors
Multi-Family · MLS #311444
Active$110,000230-234 Woodlawn
Lima, OH 45805
Listing courtesy of CCR Realtors
Multi-Family · MLS #311443
Active$135,0001219 Spring
Lima, OH 45805
Listing courtesy of Superior Plus Realtors
Multi-Family · MLS #311385
Active$175,000501 Front
Findlay, OH 45840
Listing courtesy of Coldwell Banker Flag City
Multi-Family · MLS #311027
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311009
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311013
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311014
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311011
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311010
Active$39,9000 Park
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #311012
Active$210,000515 Washington
Findlay, OH 45840
Listing courtesy of Coldwell Banker Flag City
Multi-Family · MLS #310996
Active$40,0000 Ruth
Lima, OH 45801
Listing courtesy of CCR Realtors
Multi-Family · MLS #310664
Active$220,0001063 West Market
Lima, OH 45805
Listing courtesy of Cowan, Realtors
Multi-Family · MLS #310359
Active$450,000547 Broadway
Spencerville, OH 45887
Listing courtesy of CCR Realtors
Multi-Family · MLS #310177
Active$145,000407 2nd
Ottawa, OH 45875
Listing courtesy of New Concept Realty, Ltd - Ottawa
Multi-Family · MLS #310041
Active$2,650,00030 Property Portfolio
Lima, OH 45804
Listing courtesy of Superior Plus Realtors
Multi-Family · MLS #309829
Active$199,000305 Broadway
Spencerville, OH 45887
Listing courtesy of Superior Plus Realtors
Multi-Family · MLS #309292
Active$2,400,0001212 Bellefontaine
Lima, OH 45804
Listing courtesy of Berkshire Hathaway Professional Realty
Multi-Family · MLS #309120
Active$1,040,0000 US Route 224
Findlay, OH 45840
Listing courtesy of BHHS Koehler Realty
Multi-Family · MLS #306460
Frequently asked
How much down do I need for an investment property?
For non-owner-occupied 2–4 unit financing, expect 20–25% down with conventional or DSCR loans. If you'll live in one unit (house hacking), FHA can go as low as 3.5% down on the same building. That single difference is why so many first-time investors in Lima start by occupying the property for a year.
What rents are realistic in Lima?
As of 2026, 2-bedroom units in decent Lima neighborhoods generally rent $700–$950, 3-bedrooms $950–$1,300, and renovated units in the better pockets command more. Section 8 fair market rents are competitive and often pay above private market for well-kept units. We pull live rent comps for every property we underwrite.
Do you help analyze deals, or just sell them?
Both. We provide a full underwriting model on any 2–4 unit before you offer: rent comps, expense ratios, capex reserves, projected cash flow, cash-on-cash, cap rate, and BRRRR refi exit assumptions. We tell you when a deal doesn't work, too — most don't.
Can I see off-market multi-family deals?
Yes. A lot of Lima rental inventory trades between local investors before it ever hits the MLS. If you're a serious buyer (pre-approved or all-cash), tell us your buy-box and we'll plug you into that flow.
Know exactly what you want?
Tell the LV5 team what you're looking for and we'll send matching listings — including off-market and pocket deals — before they hit the MLS.
Lima, OH · Serving West Central Ohio