Active

$1,150,100

Features:
  • 13 Bedrooms
  • 8 Bathrooms
  • 5203 sq ft
Overview
  • ID: MFRG5080470
  • Bedrooms: 13
  • Bathrooms: 8
  • Size: 5203 sq ft
Property Details
Remarks
"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.
Financial Considerations
Price:
$1,150,100
HOA Fee:
N/A
Tax Amount:
$7255
Price per SqFt:
$221.05
Tax 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
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
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, Range, Range Hood, Refrigerator
Furnished:
Yes
Floor:
Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood
Levels:
Multi/Split
Additional Features
Property Sub Type:
Single Family Residence
Style:
N/A
Year Built:
1925
Construction Type:
Stucco, Wood Frame, Wood Siding
Garage Spaces:
Yes
Covered Spaces:
N/A
Direction Faces:
East
Pets Allowed:
No
Special Condition:
None
Additional Features:
Awning(s), Lighting, Sidewalk, Storage
Additional Features 2:
Lease Restrictions & Requirements Provided Upon Request.
Map
  • Address
    426 E CITRUS AVE
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