Full-cycle case study: LV5's 26-unit, three-building portfolio in downtown Lima, Ohio was bought for $2.07M in 2021 and sold for $2.5M in August 2026. Investors received 60 straight monthly distributions and a 94.5% total return.
26 Downtown LP is located in Lima, OH. The community offers 26 units.
26 Downtown LP owned three buildings in downtown Lima, Ohio: 500-518 W Elm St, 222-232 S McDonel St, and the mixed-use 315-319 N Elizabeth St.
26 units: 23 apartments plus 3 ground-floor office suites at 315-319 N Elizabeth St.
No. The portfolio was sold on August 21, 2026 for $2,500,000 after a five-year hold, making it a realized, full-cycle investment.
Limited partners invested $650,000 and received $1,264,160.60 in total cash: 60 consecutive monthly distributions at a 9.5% annualized preferred return ($308,820.60), all of their capital back, and a $305,340 profit distribution at the sale. That is a 94.5% total return and a 1.945x equity multiple. Past performance does not guarantee future results.
$194,486.24 in total cash over five years: $47,510.86 in monthly distributions plus $146,975.38 at the sale (the original $100,000 and a $46,975.38 profit distribution).
No. General partners Jeff Dulmage and Dave Mayer, both licensed real estate agents, waived the sales commission (about $100,000 at a standard 4% rate). Total closing costs were $8,473.
The partnership was sponsored and managed by LV5 Capital's principals, headquartered in Lima, Ohio.
View our full portfolio or schedule a consultation to learn about investment opportunities.