| Summary | National Percentile | Rank vs Metro |
|---|---|---|
| Housing | 43rd | Best |
| Demographics | 41st | Fair |
| Amenities | 58th | Best |
Multifamily Valuation
| Property Details | |
|---|---|
| Address | 1855 N Cole St, Lima, OH, 45801, US |
| Region / Metro | Lima |
| Year of Construction | 1979 |
| Units | 86 |
| Transaction Date | 2013-04-29 |
| Transaction Price | $2,216,900 |
| Buyer | LIMBA CLUB 2018 LLC |
| Seller | PE LIMBA CLUB WEST REALTY LLC |
1855 N Cole St Lima Multifamily Investment
Neighborhood occupancy sits in the low 90s and amenity access ranks at the top of the Lima metro, according to WDSuite’s CRE market data, supporting durable renter demand. This submarket’s relative affordability further underpins leasing stability versus higher-cost ownership alternatives.
The property is positioned in an Inner Suburb setting that rates A+ and ranks 1st out of 45 Lima metro neighborhoods, indicating competitive location fundamentals for day-to-day convenience. Cafes, groceries, pharmacies, and restaurants are comparatively dense for the metro, with cafes ranking among the strongest clusters locally, while park access is limited—an operational consideration for resident amenities.
At the neighborhood level, occupancy trends are in the low 90% range and above the national median, signaling steady leasing conditions rather than late-cycle softness. Median asking rents in the area remain accessible for the region, which supports retention and helps mitigate turnover risk during renewals.
Within a 3-mile radius, demographic data show a roughly even split between owner- and renter-occupied housing units, indicating a sizable renter-occupied base that can sustain multifamily absorption. Although the recent five-year period included modest population softness alongside a small increase in household counts, projections point to household growth by 2028, which would expand the local tenant base and support occupancy stability.
Home values in the neighborhood sit on the lower end compared with national benchmarks. In investor terms, a lower-cost ownership market can introduce some competition from entry-level buying, yet it also allows multifamily to compete on value and convenience; combined with a moderate rent-to-income profile, this backdrop supports renewal capture while preserving pricing discipline.
Safety indicators for the neighborhood track below the metro average among 45 Lima-area neighborhoods and below national medians, so investors should underwrite conservative assumptions for security measures and resident experience. That said, recent year-over-year trends show declining estimated rates for both property and violent offenses, suggesting conditions have been improving rather than deteriorating.
Given these mixed signals, a practical approach is to budget for ongoing site-level safety enhancements and emphasize well-lit common areas, access control, and community engagement—steps that can support retention in locations where reported crime rates are higher than metro norms but trending in a favorable direction.
Regional energy employment provides a stable backbone for the broader commuter shed; the nearby headquarters listed below can support renter demand through wage stability and professional services activity within driving distance.
- Marathon Petroleum — energy (31.3 miles) — HQ
The location’s A+ neighborhood rating and top-of-metro amenity access create durable livability advantages that support leasing velocity and renewal capture. Neighborhood occupancy sits in the low 90% range, and median rents remain regionally accessible—factors that, based on CRE market data from WDSuite, align with steady demand and manageable affordability pressure relative to incomes.
Within a 3-mile radius, an approximately balanced share of renter-occupied units points to depth in the tenant pool, while projections indicate household growth by 2028, enlarging the base of potential renters and supporting occupancy stability. The ownership market is comparatively lower cost, which can introduce competition from entry-level buyers; however, multifamily can maintain an edge on convenience and flexible living, particularly with attentive asset management and resident-focused amenities.
- Top-ranked neighborhood in the Lima metro with strong day-to-day amenity access
- Low-90s neighborhood occupancy and accessible rents support retention and pricing discipline
- 3-mile household growth outlook expands the renter pool and supports leasing stability
- Lower-cost ownership context positions multifamily to compete on convenience and flexibility
- Risk: below-metro safety profile and limited park access warrant operational mitigation and budgeting