About 705 W Elm Street
Investor Opportunity in Lima: Add this spacious Lima duplex to your investment portfolio! This property features two separate units with a combined 5 bedrooms and 2 full bathrooms, offering excellent rental potential and desirable layouts for tenants. The lower unit offers approximately 1,496 sq. ft. with 3 bedrooms and 1 full bathroom. The unit features a spacious floor plan, hardwood flooring, an updated bathroom, gas forced-air heat, central air, and washer and dryer hookups in the basement. The downstairs unit currently rents for $1,000 per month, with the lease valid through October 2026. The upper unit at 705 1/2 W. Elm St. offers approximately 1,177 sq. ft. with 2 bedrooms and 1 full bathroom. This unit features spacious rooms, an updated bathroom, washer-and-dryer hookups conveniently located near the kitchen, and electric baseboard heat. The upstairs unit currently rents for $800 per month, with the lease valid through March 27, 2027.
Additional features include separate electrical panels for each unit, rear parking access for tenants, a roof and gutters replaced in 2020, and many replacement windows completed in 2019. With $1,800 in combined monthly rental income, this property offers an opportunity for an investor seeking an income-producing duplex in Lima.
