Lima, Ohio is LV5 Capital's home market — the firm is headquartered at 790 Shawnee Rd, Lima, OH 45805. Lima is the seat of Allen County (city population ~35,000; county ~102,000) and a working-class refining and manufacturing hub anchored by the Cenovus Lima Refinery, the Ford Lima Engine Plant, Procter & Gamble's Lima plant, Dana Incorporated, the Joint Systems Manufacturing Center, and two hospital systems — Lima Memorial Health System and Mercy Health–St. Rita's Medical Center. For multifamily investors, Lima offers an affordable per-door acquisition basis, durable blue-collar and healthcare employment, and limited new apartment construction, which together support steady occupancy and rents. LV5 Capital operates 26 Downtown LP in Lima and Town & Country in nearby Elida, giving the firm block-by-block knowledge of the Allen County rental market. Approximate market figures: median home price around $120,000, median two-bedroom rent near $800, and unemployment around 4.8%.
Lima offers an affordable per-door acquisition basis, durable blue-collar and healthcare employment, and limited new apartment construction, which together support steady occupancy and rents. As the seat of Allen County and LV5 Capital's home market, Lima combines a diversified industrial base with small-market pricing that institutional capital largely overlooks.
LV5 Capital is headquartered at 790 Shawnee Rd in Lima and operates 26 Downtown LP, a 26-unit downtown apartment syndication, in the city. The firm also operates Town & Country in nearby Elida. This local footprint gives LV5 Capital block-by-block knowledge of the Allen County rental market.
Lima's economy is anchored by the Cenovus Lima Refinery, the Ford Lima Engine Plant, Procter & Gamble's Lima plant, Dana Incorporated, the Joint Systems Manufacturing Center (the Lima Army Tank Plant), and two hospital systems — Lima Memorial Health System and Mercy Health–St. Rita's Medical Center.
Yes. Ohio has no rent control, allows landlords to enforce lease terms efficiently, and supports relatively fast eviction proceedings. Property taxes are administered at the county level and are reasonable in Allen County, which helps preserve net operating income for apartment owners.
Yes. Through real estate syndication, accredited investors anywhere in the U.S. can invest as Limited Partners in Lima-area multifamily properties without managing tenants, repairs, or operations. The sponsor handles all property management and investor reporting.
While returns vary by deal, Lima-area multifamily syndications typically target 6-9% preferred returns with total projected returns of 14-20%+ IRR over a 5-7 year hold. Actual results depend on the specific property, market conditions, capital structure, and operator execution.
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