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$1,150,000

Est. payment - /mo

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13 BD

8 BA

5,203 SqFt

Price Dropped by $23K

426 E CITRUS AVE Eustis, FL 32726

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Iulia Hut

office@hutteam.com +1(407) 559-2929

UPDATED:

09/26/2024 07:51 PM

Key Details

Property Type Multi-Family

Sub Type Multi-Family

Listing Status Active

Purchase Type For Sale

Square Footage 5,203 sqft

Price per Sqft $221

Subdivision Eustis

MLS Listing ID G5079488

Bedrooms 13

HOA Y/N No

Originating Board Stellar MLS

Year Built 1925

Annual Tax Amount $7,255

Lot Size 0.620 Acres

Acres 0.62

Lot Dimensions 60x234 & 55x232

Property Description

"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.

Location

State FL

County Lake

Community Eustis

Zoning SR

Rooms

Other Rooms Bonus Room, Family Room, Storage Rooms

Interior

Interior Features Built-in Features, Ceiling Fans(s), Eat-in Kitchen, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments

Heating Central, Electric

Cooling Central Air, Mini-Split Unit(s)

Flooring Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood

Furnishings Unfurnished

Fireplace false

Appliance Electric Water Heater, Range, Range Hood, Refrigerator

Laundry None

Exterior

Exterior Feature Awning(s), Lighting, Sidewalk, Storage

Garage Assigned, Ground Level, Guest, Open

Garage Spaces 5.0

Utilities Available BB/HS Internet Available, Electricity Available, Natural Gas Connected, Public, Sewer Connected, Water Connected

Waterfront false

Roof Type Metal,Other

Porch Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened

Parking Type Assigned, Ground Level, Guest, Open

Attached Garage false

Garage true

Private Pool No

Building

Lot Description City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved

Entry Level Multi/Split

Foundation Crawlspace, Slab

Lot Size Range 1/2 to less than 1

Sewer Public Sewer

Water Public

Structure Type Stucco,Wood Frame,Wood Siding

New Construction false

Schools

Elementary Schools Eustis Elem

Middle Schools Eustis Middle

High Schools Eustis High School

Others

Pets Allowed Breed Restrictions, Number Limit, Size Limit, Yes

Senior Community No

Pet Size Small (16-35 Lbs.)

Ownership Fee Simple

Acceptable Financing Cash, Conventional

Listing Terms Cash, Conventional

Num of Pet 2

Special Listing Condition None

Listed by ROCK SPRINGS REALTY, LLC

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Iulia Hut

Broker | SLBK3429855

+1(407) 559-2929

Iulia Hut

426 E CITRUS AVE Eustis, FL 32726

Iulia Hut

Key Details

Location

Rooms

Interior

Exterior

Building

Schools

Others

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426 E CITRUS AVE