426 E CITRUS AVE Active Save Request In-Person Tour Request Virtual Tour
Eustis,FL 32726
Key Details
Property Type Single Family Home
Sub Type Single Family Residence
Listing Status Active
Purchase Type For Sale
Square Footage 5,203 sqft
Price per Sqft $221
Subdivision Eustis
MLS Listing ID G5080470
Bedrooms 13
Full Baths 8
Year Built 1925
Annual Tax Amount $7,255
Lot Size 0.620 Acres
Property Description
"REDUCED PRICE" - 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.
Location
State FL
County Lake
Community Eustis
Zoning SR
Rooms
Other Rooms Bonus Room,Family Room,Storage Rooms
Interior
Heating Central,Electric
Cooling Central Air,Mini-Split Unit(s)
Flooring Carpet,Ceramic Tile,Laminate,Luxury Vinyl,Wood
Laundry None
Exterior
Exterior Feature Awning(s),Lighting,Sidewalk,Storage
Garage Assigned,Ground Level,Guest,Open
Garage Spaces 5.0
Utilities Available BB/HS Internet Available,Electricity Available,Natural Gas Connected,Public,Sewer Connected,Water Connected
Waterfront false
Roof Type Metal,Other
Building
Lot Description City Limits,Landscaped,Level,Oversized Lot,Sidewalk,Paved
Foundation Crawlspace,Slab
Sewer Public Sewer
Water Public
Structure Type Stucco,Wood Frame,Wood Siding
New Construction false
Schools
Elementary Schools Eustis Elem
Middle Schools Eustis Middle
High Schools Eustis High School
Others
Acceptable Financing Cash,Conventional
Listing Terms Cash,Conventional
Special Listing Condition None