426 E Citrus Avenue, Eustis, FL 32726

$1,174,000
13
BD
5,203
SqFt
List Price
$1,174,000
Status
Active
Days on Market
50
Price Change
▼ $1,100 1716318092
MLS#
G5079488
Property Style
Multi-Family
Year Built
1925
Bedrooms
13
Living Area
5,203
Lot Size
27,084
Acres
0.62
Total Acreage
1/2 to less than 1
Legal Subdivision Name
Eustis
MLS Area Major
Eustis

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: 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.

Additional Information

Taxes
$7255
Minimum Lease
No Minimum
Annual Gross Income
95220
Location
City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved
Community Features
No Deed Restriction
Property Description
Split Level
Zoning
SR
Interior Layout
Built-in Features, Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
Interior Features
Built-in Features, Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
Floor
Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood
Appliances
Electric Water Heater, Range, Range Hood, Refrigerator
Utilities
BB/HS Internet Available, Electricity Available, Natural Gas Connected, Public, Sewer Connected, Water Connected
Heating
Central, Electric
Air Conditioning
Central Air, Mini-Split Unit(s)
Exterior Construction
Stucco, Wood Frame, Wood Siding
Exterior Features
Awning(s), Lighting, Sidewalk, Storage
Roof
Metal, Other
Foundation
Crawlspace, Slab
Pool
No Pool
Garage Carport
5+ Car Garage
Garage Spaces
5
Garage Features
Assigned, Ground Level, Guest, Open
Garage Dimensions
20x48
Elementary School
Eustis Elem
Middle School
Eustis Middle
High School
Eustis High School
Pets
Allowed
Pet Size
Small (16-35 Lbs.)
Flood Zone Code
x
Parcel ID
11-19-26-0100-076-00403
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

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Listing courtesy of ROCK SPRINGS REALTY, LLC.

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