Residential Property - Single Family Residence in Eustis
Listing Price: $1,150,000 (Mortgage Calculator →)
Description of Property
"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.
Bedrooms: 13
Bathrooms: 8
Sq. Ft. Gross: 5,797
Garage: Yes5 vehicles
Carport: No
Parking Features:
- Assigned
- Ground Level
- Guest
- Open
Spa Features:
Water Frontage:
Water Features:
Water Access:
Property Details At A Glance
Property Type: Residential
Property Use or Sub Type: Single Family Residence
City: Eustis
County: Lake
Subdivision: Eustis
Bedrooms: 13
Bathrooms: 8
Sq. Ft. Gross: 5,797
Sq. Ft. Living Area: 5,203
Cost per (heated) sqare foot: $221
Year built: 1925
Annual Tax: $7,255
Taxes and fees can change periodically, and other fees may apply. Please check with your Suncoasteam agent for more details.
Interior Features:
- Built-in Features
- Ceiling Fan(s)
- Eating Space In Kitchen
- Primary Bedroom Main Floor
- PrimaryBedroom Upstairs
- Solid Wood Cabinets
- Split Bedroom
- Thermostat
- Walk-In Closet(s)
- Window Treatments
Appliances:
- Electric Water Heater
- Range
- Range Hood
- Refrigerator
Accessibility Features:
Window Features:
- Aluminum Frames
- Blinds
- Window Treatments
- Wood Frames
Additional Rooms:
- Bonus Room
- Family Room
- Storage Rooms
Ceiling Type:
Flooring:
- Carpet
- Ceramic Tile
- Laminate
- Luxury Vinyl
- Hardwood
Schools
Elementary School: Eustis Elem
Middle/Junior High School: Eustis Middle
High School: Eustis High School
Pool & Waterfront Info
Private Pool: Not specified
Pool Features:
Spa Features:
Water Frontage:
Water Access: Not specified
Water Access Type:
Water View:
Exterior & Construction
Architectural Style: Historical
- Stucco
- Wood Frame
- Wood Siding
Foundation: Crawlspace, Slab
Roof: Metal, Other
- Awning(s)
- Lighting
- Sidewalk
- Storage
Garage: Yes
Garage Spaces: 5
- Assigned
- Ground Level
- Guest
- Open
Floors Total:
Floors in Unit: Multi/Split
Cooling: Central Air, Mini-Split Unit(s)
Heating & Fuel: Central, Electric
Electric:
Patio & Porch Features:
- Covered
- Enclosed
- Front Porch
- Patio
- Rear Porch
- Screened
Security Features: Smoke Detector(s)
Other Structures: Storage
View:
Fencing:
Utilities:
- BB/HS Internet Available
- Electricity Available
- Natural Gas Connected
- Public
- Sewer Connected
- Water Connected
Sewer: Public Sewer
Water Source: Public
Community Features:
Association Amenities:
Lot Information
Lot Features:
- City Lot
- Landscaped
- Level
- Oversized Lot
- Sidewalk
Lot Size (acres): 0.62
Lot Size (sq. ft.): 27,084 square feet
Lot Dimensions: 60 x 234 & 55 x 232
Road Frontage: Street Paved
Front Exposure: East
Adjoining Property:
Current Adjacent Use:
Additional Parcels: Yes
Additional Parcels Description: 11-19-26-0100-076-00401
Legal Description & Other Information
Financing Available: Cash, Conventional
Parcel Number: 111926010007600403
Zoning: SR
Pets Allowed/Pet Policies: Breed Restrictions, Number Limit, Size Limit, Yes
Tax Legal Desc.: 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
Disclosures: Lead Paint, Seller Property Disclosure
Section: 11
Range: 26E
Listing courtesy of ROCK SPRINGS REALTY, LLC. The information relating to real estate for sale on this website comes in part from the My Florida Regional MLS DBA Stellar MLS. This information is provided exclusively for consumers' personal, non-commercial use. It may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.