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426 E Citrus Avenue,  Eustis FL, 32726

(Active)
$1,175,100
|
13 beds, 8 baths, 5,203 sqft
|
MLS# G5079488
Last Updated: 5/11/2024 8:14 AM
Description for 426 E Citrus Avenue Eustis, FL 32726
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: 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 Proformas. 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 directly for more information.
Price
$1,175,100
EUSTIS
Lake
13
8
5,203 (approx)
G5079488
Active
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: 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 Proformas. 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 directly for more information.
Listing Information
Property Type: Multi-Family, 3+ Story
13 8
0.62 Acres 5,203 (approx) 1925
Yes-5 spaces Stucco,Wood
19S//
EUSTIS
Slab
Public
Public Sewer
Natural Gas Available, Electricity Available, Natural Gas Connected, Sewer Connected, Water Connected
Neighborhood
School Information
Eustis Elem Eustis Middle Eustis High School
Room Information
None
Eat-in Kitchen
Interior Features
Electric Water Heater, Range, Range Hood, Refrigerator
Ceramic Tile, Laminate, Carpet, Wood
Central Air
Electric Heating, Central
Crawl Space
Window Coverings, Aluminum Frames, Blinds, Window Treatments, Wood Frames
Smoke Detector(s)
Built-in Features, Eat-in Kitchen, Walk-In Closet(s)
Exterior / Lot Features
5 Garage Spaces, Assigned, Guest, Open
Wood, Stucco
Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened
Metal
60x234 & 55x232
SR
Awning(s), Lighting, Storage, Landscaped, Level, Paved
Community Features
Smoke Detector(s)
Driving Directions
From Hwy 441 in Eustis, head north on S. Bay Street (19) for approximately 2 miles. Turn right onto Citrus Ave and follow down. Property will be down on the right.
Financial Considerations
11-19-26-0100-076-00403
$7,255
Cash, Conventional
Listing Price History

Eustis Real Estate

Eustis is located in Florida. Eustis, Florida 32726 has a population of 20,202.

The median household income in Eustis, Florida 32726 is $46,530. The median household income for the surrounding county is $57,588 compared to the national median of $66,222. The median age of people living in Eustis 32726 is 47 years.

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Courtesy: ROCK SPRINGS REALTY, LLC, 877-333-2811


All listing information is deemed reliable but not guaranteed and should be independently verified through personal inspection by appropriate professionals. Listings displayed on this website may be subject to prior sale or removal from sale; availability of any listing should always be independently verified.
Listing information is provided for consumer personal, non-commercial use, solely to identify potential properties for potential purchase; all other use is strictly prohibited and may violate relevant federal and state law. Copyright 2017, My Florida Regional MLS
This content last refreshed on 5/11/2024 8:14 AM CST. Some properties which appear for sale on this web site may subsequently have sold or may no longer be available.
Information is deemed reliable but is not guaranteed.

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