Active

$980,000

Features:
  • 13 Bedrooms
  • 8 Bathrooms
  • 5203 sq ft
Overview
  • ID: MFRG5108356
  • Bedrooms: 13
  • Bathrooms: 8
  • Size: 5203 sq ft
Property Details
Remarks
ATTENTION INVESTORS: (2) QUAD-PLEX BUILDINGS FOR SALE, (8) APARTMENT UNITS + (4) STORAGE UNITS PROVIDING $97,000.00+ IN ANNUAL CASH FLOW, EUSTIS, FL 32726. Located at 422 & 426 E. Citrus Avenue in the historic district of Eustis and just (3) Blocks from downtown, this is a "turnkey" investment opportunity, 100% occupancy, annual tenants, providing a blended 6.64% CAP-RATE ROI. These two separate quadplexes sits on .62 acres (115'x 232') with "NO HOA" and includes 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. Floor Plans & Seller Disclosures for each building & units are attached in the MLS, or available to be emailed. Detailed financials available to "Qualified Buyers" and includes full Unit Profiles, Upgrades/Improvements/Maintenance Info, Current & Past Income History, Expense Breakdown, Rental Comps Analysis for 1/1 & 2/1 rentals in the entire Eustis market. PLEASE DO NOT ENGAGE OR DISTURBANY OF THE TENANTS. NO SIGN at the property and all inquiries are to be directed "ONLY" to the Listing Broker. 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, ParcelID#11-19-26-0100-076-00403, Alt. Key#1243122. Call directly for more information.
Financial Considerations
Price:
$980,000
HOA Fee:
N/A
Tax Amount:
$7560
Price per SqFt:
$188.35
Tax Legal Description:
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 6319 PG 2114
Exterior Features
Lot Size:
27084
Lot Features:
City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved
Waterfront:
No
Parking Spaces:
N/A
Parking:
Assigned, Ground Level, Guest, Open
Roof:
Metal, Other, Shingle
Pool:
No
Pool Features:
N/A
Interior Features
Bedrooms:
13
Bathrooms:
8
Heating:
Central, Electric
Cooling:
Central Air, Mini-Split Unit(s)
Appliances:
Electric Water Heater, Gas Water Heater, Range, Range Hood, Refrigerator
Furnished:
Yes
Floor:
Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood
Levels:
Multi/Split
Additional Features
Property Sub Type:
Multi-Family 5+
Style:
N/A
Year Built:
1925
Construction Type:
Stucco, Frame, Wood Siding
Garage Spaces:
Yes
Covered Spaces:
N/A
Direction Faces:
N/A
Pets Allowed:
No
Special Condition:
None
Additional Features:
Awning(s), Lighting, Sidewalk, Storage
Additional Features 2:
Lease Restrictions & Requirements Provided Upon Request.
Map
  • Address
    422 E CITRUS AVE
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