Address
426 E Citrus AVENUE, EUSTIS, FL
Price
$ 1,174,000
Property Attributes
  • MLS#G5079488
  • TypeIncome
  • CountyLAKE
  • CityEUSTIS
  • AreaEustis
  • NeighborhoodEustis
  • Zip32726
  • StyleMulti Family
  • Year Built1925
  • Taxes$ 7255
  • Price$ 1,174,000
  • Bedrooms13
  • Full Bathrooms8
  • Half Bathrooms0
  • Sqr Footage5203
  • Lot Size0.62 Acres
Data Source:
Stellar MLS
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.

Elementary School Middle School High School
Eustis Elem Eustis Middle Eustis High School
Price History
4/3/2024 Listed $1,175,000
5/21/2024 1% - $1,174,000

General Features

Interior Features Built-in Features,Ceiling Fan(s),Eating Space In Kitchen,Primary Bedroom Main Floor,PrimaryBedroom Upstairs,Solid Wood Cabinets,Split Bedroom,Thermostat,Walk-In Closet(s),Window Treatments
Sewer Public Sewer
Heating Central,Electric
Cooling Central Air,Mini-Split Unit(s)
Utilities BB/HS Internet Available,Electricity Available,Natural Gas Connected,Public,Sewer Connected,Water Connected
Possession Close of Escrow
Roof Metal,Other
Appliances Electric Water Heater,Range,Range Hood,Refrigerator
Exterior Features Awning(s),Lighting,Sidewalk,Storage
Zoning SR
Garage Spaces 5
Patio/Porch Features Covered,Enclosed,Front Porch,Patio,Rear Porch,Screened
Security Features Smoke Detector(s)
Construction Materials Stucco,Wood Frame,Wood Siding
Pets Allowed Breed Restrictions,Number Limit,Size Limit,Yes
Year Built 1925
Tenant Pays Electricity
Levels Multi/Split
Property SubType Multi Family
Tax Year 2023
Percent Ownership Fee Simple
Gross Income 95220
Additional Parcels Description 11-19-26-0100-076-00401
County Lake
New Construction No
Property Type Residential Income
HOA / Comm Assn No
Attached Garage No
Subdivision Name EUSTIS
Garage Y/N Yes
Other Structures Storage
Status Active
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.
ModificationTimestamp 2024-05-21T13:49:59.280Z
High School Eustis High School
City EUSTIS
Buyer Agent Compensation 2.5%
Disclosures Lead Paint,Seller Property Disclosure
View Y/N No
Senior Community Y/N No
NumberOfUnitsTotal 8
MLS Area 32726 - Eustis
Lot Size Units Square Feet
Lot Size Square Feet 27084
Waterfront Y/N No
Carport Y/N No
Street Name Citrus
Elementary School Eustis Elem
Land Lease Y/N No
Tax Annual Amount 7255
Middle/Junior High School Eustis Middle
Property Condition Completed
Ok to Lease 12 Months
Additional Parcels Y/N Yes
Lease Considered Y/N Yes
Virtual Tour https://vimeo.com/923455452/46186054c3?share=copy
Days on Market 48
Building Area Units Square Feet
Living Area Units Square Feet
Standard Status Active
Occupancy Type Tenant
Tax Lot 4
Total Actual Rent 7935
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 P
Pet Size Limit Small (16-35 Lbs.)
Minimum Lease No Minimum
Water Access Y/N No
Additional Rooms Bonus Room,Family Room,Storage Rooms
Water View Y/N No
Flood Zone Code x

Interior Features

Flooring Carpet,Ceramic Tile,Laminate,Luxury Vinyl,Hardwood
Furnished Y/N Unfurnished
Air Conditioning Y/N Yes
Heating Y/N Yes
Window Features Aluminum Frames,Blinds,Window Treatments,Wood Frames
Fireplace Y/N No
Laundry Features None
Total Bedrooms 13
LivingAreaSource Estimated
Total Baths 8

Exterior Features

Parking Features Assigned,Ground Level,Guest,Open
Lot Features City Lot,Landscaped,Level,Oversized Lot,Sidewalk
Water Source Public
Lot Size Area 27084
Foundation Details Crawlspace,Slab
Number of Buildings 3
Spa No
Building Area Total 5797
Lot Dimensions 60 x 234 & 55 x 232
Street Suffix AVENUE
Lot Size Acres 0.62
Road Surface Type Paved,Asphalt
Covered Spaces 5
Road Frontage Type Street Paved
Number of Lots 2
Road Responsibility Public Maintained Road
Open Parking Y/N Yes

Amenities

  • Foreclosure
  • Views
  • Short Sale
  • New Construction
  • Adult 55+
  • Lease To Own
  • No HOA Fees
  • Furnished
  • Primary On Main
  • Air Conditioning
  • Seller Finance
  • Green
  • Fixer Upper
  • Horse
  • Golf
  • Fireplace
  • Deck
  • Garage
  • Basement
  • Pool

Property vs Income Average in 32726

Price
AVG $840K
$1.17M
Taxes
AVG $7,844
$7,255
Visits
AVG 639
776
Data Provided by Inside Real Estate®
Year Built
AVG 1952
1925