1293 Pebble Creek Dr Lima, OH 45801

This exceptional investment opportunity presents a single-unit HUD housing property located at 1293 Pebble Creek Dr, Lima, OH 45801. The property, built in 1986, boasts 4,307 square feet of space, currently operating at 100% occupancy as of July 31, 2024. With a permitted zoning for hospital use, this single-story building offers significant potential. The asking price is $785,000, translating to a price per square foot of $182.26 and a compelling cap rate of 8.15%. The property generates a Net Operating Income (NOI) of $64,000 annually. The 14-foot ceilings add to the spacious feel. This property has served as HUD housing for Allen County residents since 1986, with the current Section 8 contract expiring in 2026. The property is in good condition and currently houses seven bedrooms, generating $976 per month per bed. The Allen County location and the strong historical performance make this a highly attractive investment. Further details and supporting documentation are available upon request. APN: 36-1303-02-027.009.