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"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 directly for more information.
| DAYS ON MARKET | 219 | LAST UPDATED | 9/26/2024 |
|---|---|---|---|
| TRACT | EUSTIS | YEAR BUILT | 1925 |
| COMMUNITY | 32726 - Eustis | GARAGE SPACES | 5.0 |
| COUNTY | Lake | STATUS | Active |
| PROPERTY TYPE(S) | Multi Family |
| Elementary School | Eustis Elem |
|---|---|
| Jr. High School | Eustis Middle |
| High School | Eustis High School |
| PRICE HISTORY | |
| Prior to May 1, '24 | $1,175,000 |
|---|---|
| May 1, '24 - May 21, '24 | $1,175,100 |
| May 21, '24 - Jul 19, '24 | $1,174,000 |
| Jul 19, '24 - Sep 26, '24 | $1,173,000 |
| Sep 26, '24 - Today | $1,150,000 |
| ADDITIONAL DETAILS | |
| AIR | Central Air |
|---|---|
| AIR CONDITIONING | Yes |
| APPLIANCES | Electric Water Heater, Range, Range Hood, Refrigerator |
| AREA | 32726 - Eustis |
| BASEMENT | Crawl Space |
| CONSTRUCTION | Stucco, Wood Siding |
| EXTERIOR | Awning(s), Lighting, Storage |
| GARAGE | Yes |
| HEAT | Central, Electric |
| INTERIOR | Built-in Features, Eat-in Kitchen, Walk-In Closet(s) |
| LOT | 0.62 acre(s) |
| LOT DESCRIPTION | Landscaped, Level, Paved |
| LOT DIMENSIONS | 60x234 & 55x232 |
| PARKING | Assigned, Guest, Open |
| SEWER | Public Sewer |
| STORIES | Split/Multi Level |
| SUBDIVISION | EUSTIS |
| TAXES | 7255 |
| UTILITIES | Natural Gas Available, Electricity Available, Natural Gas Connected, Sewer Connected, Water Connected |
| WATER | Public |
MORTGAGE CALCULATOR
TOTAL MONTHLY PAYMENT
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Listing provided by Joel Bornstein, ROCK SPRINGS REALTY, LLC, 877-333-2811
The information contained herein has been provided by My Florida Regional MLS DBA Stellar MLS. IDX information is provided exclusively for consumers' personal, non-commercial use, that it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. Listings last updated 11/8/24 4:01 AM PST.
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