422 & 426 E CITRUS Avenue
Property Description
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, and provides a blended 6.925% CAP-RATE. These two separate quadplex buildings sit 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-BathUnits. 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#11-19-20-01, Alt Key#1759641 "and" 426 E. Citrus Ave, ParcelID#11-19-26-03, Alt. Key#1243122. Call directly for more information.
Broker Details
Rock Springs Realty, LLC (877) 333-2811
MLS ID: 260502009 State License Number: 3211229
Key Property Information
| Listing Status: | Available |
|---|---|
| Listing Type: | Call for offers |
| Property Types: | Apartment Buildings |
| Price: | $939,800 |
| No. of Units: | 8 |
| Year Built: | 1925 |
| Lot Size: | 5,203.00 Sq ft |
| Opportunity Zone: | No |
| Price per unit: | $117,475 |
| Property Website | Click Here |
| Number of Bedrooms: | 13 |
| Number of Bathrooms: | 8 |
ID: 3yd-MFRMLSFL-G5117528
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