$1,173,000 for Sale
426 e citrus avenue, eustis, FL 32726
| Beds 13 | Baths 8 | 5,203 Sqft | 0.62 Acres |
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Property Description
ATTENTION INVESTORS: (2) QUADPLEX BUILDINGS FOR SALE, (8) APARTMENT UNITS + (4) STORAGE UNITS KICKING OFF $95,000.00 IN ANNUAL CASH FLOW, EUSTIS, FL 32726. Located at 422 & 426 E. Citrus Avenue in the historic district of Eustis and just (3) Block from downtown, this is a "turnkey" investment opportunity, 100% occupancy, annual tenants, providing a solid 8% CAP-RATE ROI. These two separate quadplexes sits on .62 acres (115'x 232') with "NO HOA" and offer a combined heated 5,203 s/f and total size of 5,797 s/f. Both building are on City of Eustis water & sewer services. Building 422 Profile: (3-qty) 1-Bedroom, 1-Bath and (1-qty) 2-Bedroom, 1-Bath Units. All units were fully remodeled and updated in 2018. Building 426 Profile: (4-qty) 2-Bedroom, 1-Bath Units. All units were fully remodeled and updated in 2019. Building 426 also has a detached (4-qty) Rental Storage Units with Roll-Up Doors that also generate cash flow to the property.All units have (2) dedicated parking spaces each. Additionally, the property is located within close proximity & walking distance to Downtown Eustis & Bay Street, Lake Eustis lakefront, lots of restaurants, shops, city parks & just 5-minutes to the Lake County Mall, Target, Walmart, etc. and a variety of other conveniences for the tenants and their guests. NOTE: SELLER FINANCING AVAILABLE FOR A SMALL PERCENTAGE (25% +/-) OF THE PURCHASE PRICE FOR QUALIFIED BUYERS. Floor Plans & Seller Disclosures for each building & units are attached in the MLS, or available to be emailed upon request. Detailed financials are available to "Qualified Buyers" and includes full Unit Profiles, Upgrades/Improvements/Maintenance Info, Current & Past Income History, Expense Breakdown and Rental Comps Analysis for 1/1 & 2/1 rentals in the entire Eustis market which shows units could still be competitive with an additional 10%-15% rent increase on annual renewals. "EVERY BUYER" will be required to sign an NDA (non-disclose agreement) prior to receiving the actual financials. PLEASE DO NOT ENGAGE OR DISTURB ANY OF THE TENANTS. NO SIGN at the property and all inquiries are to be directed to the Listing Broker only. For reference, the purchase price includes the following properties: 422 E. Citrus Ave, Parcel ID#11-19-20-0100-076-00401, Alt Key#1759641"and" 426 E. Citrus Ave, Parcel ID#11-19-26-0100-076-00403, Alt. Key#1243122. Call for more information.
General Information
Sale Price: $1,173,000
Price/SqFt: $225
Status: Active
MLS#: G5080470
City: eustis
Post Office: eustis
Schools: eustis high school
County: Lake
Subdivision: eustis
Acres: 0.62
Lot Dimensions: 60 x 234 & 55 x 232
Bedrooms:13
Bathrooms:8 (8 full, 0 half)
House Size: 5,203 sq.ft.
Acreage: 0.62 est.
Year Built: 1925
Property Type: Single Family Residence
Style: Historical
Features & Room Sizes
Paved Road: Paved, Asphalt
Construction: Stucco, Wood Frame, Wood Siding
Exterior Misc: Awning(s), Lighting, Sidewalk, Storage
Basement: No
Foundation : Crawlspace, Slab
Appliances: Electric Water Heater, Range, Range Hood, Refrigerator
Cooling: Central Air, Mini-Split Unit(s)
Heating: Central, Electric
Waste: Public Sewer
Watersource: Public
Tax, Fees & Legal
Est. Summer Taxes: $0
Est. Winter Taxes: $7,255
Legal Description: EUSTIS E 61.36 FT OF LOT 4 BLK 76 PB 1 PG 79 ORB 5291 PG 2443 "AND" EUSTIS BEG 79 FT E OF SW COR OF LOT 4 BLK 76, RUN N TO PT 44 FT S OF N LINE OF LOT 4, E 4 FT, N 44 FT, E 51 FT, S TO S LINE LOT 4, W TO POB PB 1 PG 79 ORB 5011 PG 2109
Information provided by My Florida Regional MLS DBA Stellar MLS, Copyright 2024
All information provided is deemed reliable but is not guaranteed and should be independently verified. Participants are required to indicate on their websites that the information being provided is for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Listing By: Joel Bornstein of ROCK SPRINGS REALTY, LLC, Phone: 877-333-2811
