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$ 675,000
Est. payment | /mo
0.32 Acres Lot
$ 675,000
Est. payment | /mo
0.32 Acres Lot
Key Details
Property Type Condo
Sub Type Apartment
Listing Status Active
Purchase Type For Sale
Subdivision O B York Allotment
MLS Listing ID 5128121
HOA Y/N No
Year Built 1924
Annual Tax Amount $5,100
Tax Year 2024
Lot Size 0.320 Acres
Acres 0.32
Property Sub-Type Apartment
Property Description
Opportunity to acquire a fully occupied, turnkey multifamily portfolio in the heart of Akron, Ohio. Located at 594 & 598 Blaine Avenue, this package consists of a 2-unit duplex and a 5-unit apartment building, both fully renovated in 2023 with updated interiors, exteriors, plumbing, electrical, and more. The property offers strong in-place cash flow and immediate value-add potential.
594 Blaine Avenue (Duplex) -
1-bedroom/1-bath lower unit and 3-bedroom/1-bath upper unit.
Detached 2-car garage.
598 Blaine Avenue (5-Unit Apartment Building) -
Five 1-bedroom/1-bath units.
Coin-operated laundry for additional income.
Detached 6-car garage.
2024 Total Annual Income: $76,102. Cap rate 7.5%.
Fully leased, including two tenants on AMHA housing vouchers.
Value-Add Opportunities -
Lower Utility Costs: Seller to eliminate boiler at 598 Blaine and replace with electric baseboard heating prior to closing—shifting heat/electric responsibility to tenants and reducing owner expenses.
Garage Income: Potential to monetize 8 total garage spaces by charging tenants for parking/storage.
Laundry Expansion: Opportunity to install another set of coin-operated laundry to increase ancillary income.
Unit Upside: Four of the five 1-bedroom units at 598 Blaine can be easily reconfigured into 2-bedroom units to boost rental income.
This asset is well-positioned for investors seeking a low-maintenance, cash-flowing portfolio with upside. Whether you're expanding an existing portfolio or entering the multifamily space, 594–598 Blaine Ave offers both stability and potential in a growing rental market.
594 Blaine Avenue (Duplex) -
1-bedroom/1-bath lower unit and 3-bedroom/1-bath upper unit.
Detached 2-car garage.
598 Blaine Avenue (5-Unit Apartment Building) -
Five 1-bedroom/1-bath units.
Coin-operated laundry for additional income.
Detached 6-car garage.
2024 Total Annual Income: $76,102. Cap rate 7.5%.
Fully leased, including two tenants on AMHA housing vouchers.
Value-Add Opportunities -
Lower Utility Costs: Seller to eliminate boiler at 598 Blaine and replace with electric baseboard heating prior to closing—shifting heat/electric responsibility to tenants and reducing owner expenses.
Garage Income: Potential to monetize 8 total garage spaces by charging tenants for parking/storage.
Laundry Expansion: Opportunity to install another set of coin-operated laundry to increase ancillary income.
Unit Upside: Four of the five 1-bedroom units at 598 Blaine can be easily reconfigured into 2-bedroom units to boost rental income.
This asset is well-positioned for investors seeking a low-maintenance, cash-flowing portfolio with upside. Whether you're expanding an existing portfolio or entering the multifamily space, 594–598 Blaine Ave offers both stability and potential in a growing rental market.
Location
State OH
County Summit
Interior
Heating Electric, Forced Air, Gas
Fireplace No
Schools
School District Akron Csd - 7701
Others
Tax ID 6849194
Acceptable Financing Cash, Conventional
Listing Terms Cash, Conventional
Listed by Vince Senauskas • Gentile Real Estate LLC • vsenauskas12@gmail.com 330-304-9626
"Whether you're looking to purchase your first home, dream home, investment property, and/or sell your current home, I am committed to providing you with high-quality bespoke services."
1991 Crocker Rd. Suite 600, Westlake, OH, 44145, United States