Remington Lyman, a Columbus-based real estate investor and brokerage owner, built a 24-unit apartment portfolio starting from an $80,000 deal. The acquisition marks one of several commercial victories for Lyman, whose current holdings span roughly 100 residential units alongside four commercial properties.
The 24-unit building represents the anchor of Lyman's commercial real estate strategy in Ohio. He also owns a 24,000-square-foot warehouse, rounding out a diversified portfolio that balances residential income with industrial assets.
For Columbus investors, Lyman's trajectory reveals how early-stage capital deployment in undervalued properties can compound into substantial holdings. The $80,000 entry point suggests deal sourcing off-market or targeting distressed properties that competitors overlooked. In Columbus's maturing rental market, multifamily buildings of this size trade on cap rates typically ranging from 5% to 7%, making acquisition strategy and property condition critical to returns.
The warehouse addition demonstrates commercial diversification beyond residential. Industrial square footage in the Columbus market remains tight, with logistics-driven demand supporting stable leasing and pricing power. Four commercial deals total suggests Lyman segments his capital across different asset classes rather than concentrating risk.
For residential tenants and landlords, Lyman's growth pattern tracks broader Columbus trends. The metro area has absorbed significant migration from higher-cost metros, driving multifamily construction and occupancy gains. Landlords competing in this space must offer modern amenities and reliable management to retain residents. Tenants benefit from increased supply and unit variety, though rent escalation continues outpacing wage growth.
Buyers entering Columbus multifamily should note that deal sourcing matters more than market timing. Lyman's success hinges on identifying undervalued or mismanaged properties, then executing operational improvements. The gap between $80,000