For Sale
$847,000

710 Main StLima, OH 45801

HUD Property: High Cap Rate, Excellent ROI

Overview

Added:
Dec 11, 2024
Days on market:
115
Exceptional investment opportunity: Greenway Apartments, a single-story, 9,940 square foot HUD-subsidized property located at 710 N Main St, Lima, OH 45801. This 1-unit building, constructed in 1993, boasts a 100% occupancy rate as of July 31, 2024, generating a substantial Net Operating Income (NOI) of $74,000 and an attractive 8.74% capitalization rate. The asking price is $847,000, translating to $85.21 per square foot and $847,000 per unit. The property features a 12-foot ceiling height and is zoned for hospital use. The Allen County property (APN: 37-3012-10-024.000) is part of a larger portfolio of HUD housing units available for sale. The current HUD Section 8 contract extends through 2033. This property presents a strong cash flow opportunity for investors seeking a stable, income-producing asset in a well-established location. Detailed financial information is available upon request.

Highlights

  • HUD-subsidized Section 8 contract extending through 2033.
  • 9,940 SF single-story building in Lima, OH.
  • 100% occupancy as of July 31, 2024, generating $74,000 NOI.
  • Asking price: $847,000 ($85.21/SF, $847,000/unit), 8.74% cap rate.
  • Located at 710 N Main St, Lima, OH 45801 (APN: 37-3012-10-024.000).

Property Details for 710 Main St

Property type
Specialty properties
Square Feet
9,940 SF
Year Built
1993
Buildings
1
Stories
1
Units
1

Location Insight

City
Lima
County
Allen
State
Ohio
Latitude
40.748130352257
Longitude
-84.104406343653
710 Main St, Lima, Ohio

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710 Main St
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