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Sherry Shaheen

sherry.shaheen@engelvoelkers.com +1(352) 455-0712

$ 980,000

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422 & 426 E CITRUS AVE Eustis, FL 32726

13 Beds

8 Baths

5,203 SqFt

UPDATED:

Key Details

Property Type Multi-Family

Sub Type Multi-Family 5+

Listing Status Active

Purchase Type For Sale

Square Footage 5,203 sqft

Price per Sqft $188

Subdivision Eustis

MLS Listing ID G5108356

Bedrooms 13

Construction Status Completed

HOA Y/N No

Year Built 1925

Annual Tax Amount $7,560

Lot Size 0.620 Acres

Acres 0.62

Lot Dimensions 60x234 & 55x232

Property Sub-Type Multi-Family 5+

Source Stellar MLS

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, providing a blended 6.64% 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-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. 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#11-19-20-0100-076-00401, Alt Key#1759641 "and" 426 E. Citrus Ave, ParcelID#11-19-26-0100-076-00403, Alt. Key#1243122. Call directly for more information.

Location

State FL

County Lake

Community Eustis

Area 32726 - Eustis

Zoning SR

Rooms

Other Rooms Bonus Room, Family Room, Storage Rooms

Interior

Interior Features Built-in Features, Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Living Room/Dining Room Combo, 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, Gas Water Heater, Range, Range Hood, Refrigerator

Laundry None

Exterior

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

Parking Features Assigned, Ground Level, Guest, Open

Garage Spaces 5.0

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

Roof Type Metal,Other,Shingle

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

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,Frame,Wood Siding

New Construction false

Construction Status Completed

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, FHA, VA Loan

Listing Terms Cash, Conventional, FHA, VA Loan

Num of Pet 2

Special Listing Condition None

Listed by Joel Bornstein ROCK SPRINGS REALTY, LLC

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Sherry Shaheen

Real Estate Advisor | License ID: SL3517451

+1(352) 455-0712

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