Active

$629,000

Features:
  • Bedrooms
  • 0 Bathrooms
  • 5415 sq ft
Overview
  • ID: MFRG5113226
  • Bedrooms:
  • Bathrooms: 0
  • Size: 5415 sq ft
Property Details
Remarks
Investment Opportunity – 6-Unit Multifamily Property Near Historic Downtown Eustis. Great opportunity to acquire a 6-unit multifamily property located just minutes from historic downtown Eustis, waterfront parks, shopping, dining, and entertainment. Originally built in 1919, this income-producing property offers historic character combined with significant upside potential. The property consists of six residential units with four units currently occupied and two vacant units currently available for lease, providing an immediate opportunity to increase cash flow. Unit mix includes one 3-bedroom/2-bath unit, one 2-bedroom/1-bath unit, and four 1-bedroom/1-bath units. Several tenants have established rental histories, with a combination of long-term occupants and month-to-month tenancy providing flexibility for future management strategies. The current owner has invested considerable effort into improving the property's marketability and ownership position, including successfully completing a quiet title action resulting in clear title, resolving prior open permit issues, and addressing foundation-related concerns. Conveniently located within close proximity to downtown Eustis and major transportation corridors, the property is well-positioned to benefit from continued growth throughout Lake County. With two vacant units ready for lease-up and several existing rents offering potential for future adjustment, investors have the opportunity to increase income and maximize returns. This property presents an excellent opportunity for investors seeking a value-add multifamily asset with much of the heavy lifting already completed. Rent roll, lease information, and operating expense summary available upon request. Buyer to verify all measurements, zoning, future use, financial projections, and all information deemed important to the buyer. Do not disturb tenants. Showings by appointment only.
Financial Considerations
Price:
$629,000
HOA Fee:
N/A
Tax Amount:
$7283
Price per SqFt:
$107.43
Tax Legal Description:
EUSTIS E 138 FT OF S 179.5 FT BLK 76 PB 1 PG 79 ORB 5187 PG 1441
Exterior Features
Lot Size:
24804
Lot Features:
Corner Lot, Sidewalk
Waterfront:
No
Parking Spaces:
N/A
Parking:
N/A
Roof:
Metal, Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
Bathrooms:
0
Heating:
Natural Gas
Cooling:
Wall/Window Unit(s)
Appliances:
N/A
Furnished:
No
Floor:
N/A
Levels:
Two
Additional Features
Property Sub Type:
Multi-Family 5+
Style:
N/A
Year Built:
1919
Construction Type:
Frame
Garage Spaces:
No
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
N/A
Additional Features 2:
N/A
Map
  • Address
    527 E LEMON AVE
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