REO Sale: Value-Add Multi | Mount Vernon Village
Market Price
2650 West Market Street, Lima, OH 45805
117,120 sqft
Building Size
6.48 acres
Lot Area
Details:
Description:
Ri Marketplace Online Auction October 14th-16th, 2025
Register to bid on Marketplace:
https://rimarketplace.com/auction/2736/reo-sale-value-add-multi-mount-vernon-village?utm_source=brevitas&utm_medium=listing&utm_campaign=external&utm_content=multifamily_2736
Colliers is pleased to present Mount Vernon Village, 124 units primed for an immediate value-add execution in Lima, OH. Positioned 5 minutes from Lima’s largest employer, Mercy Health St. Rita’s Hospital (3,000+ jobs), Mount Vernon Village offers multiple paths to add value and capitalize on below-market rents.
All 124 units are in near original condition with tile floors, laminate countertops, and white appliances. Renovating units with modern cabinets, hardwood-style floors, higher-end laminate countertops, and black or stainless steel appliances will generate significant renovation premiums and boost the property’s perception to a higher-income demographic. New ownership can leverage no new supply in Lima over the next 3+ years, high occupancy rates, and positive market rent growth to time value-add improvements perfectly and quickly push top-line revenue.
Thomas Seaman
Auctioneer
License: 2007000016
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Location
Gallery
