426 E CITRUS AVE, EUSTIS, FL, 32726
$1,150,100
Residential Income
|
Bedrooms
13
|
Bathrooms
8
|
Living Area
5,203 Sqft
|
Lot Size
27,084 Sqft
|
"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.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRG5079488 | Year Built: | 1925 | |
| Appliances: | Electric Water Heater, Range, Range Hood, Refrigerator | Construction Materials: | Stucco, Wood Frame, Wood Siding | |
| Cooling: | Central Air, Mini-Split Unit(s) | Country: | US | |
| Disclosures: | Lead Paint, Seller Property Disclosure | Exterior Features: | Awning(s), Lighting, Sidewalk, Storage | |
| Financial Data Source: | Owner | Flooring: | Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood | |
| Foundation Details: | Crawlspace, Slab | Furnished: | Unfurnished | |
| Heating: | Central, Electric | Laundry Features: | None | |
| Lease Term: | Twelve Months | Levels: | Multi/Split | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash, Conventional | |
| Lot Features: | City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved | Occupant Type: | Tenant | |
| Other Structures: | Storage | Parking Features: | Assigned, Ground Level, Guest, Open | |
| Patio And Porch Features: | Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened | Pets Allowed: | Breed Restrictions, Number Limit, Size Limit, Yes | |
| Possession: | Close of Escrow | Property Condition: | Completed | |
| Property Sub Type: | Multi-Family | Property Type: | Residential Income | |
| Road Responsibility: | Public Maintained Road | Road Surface Type: | Asphalt | |
| Roof: | Metal, Other | Security Features: | Smoke Detector(s) | |
| Sewer: | Public Sewer | Showing Requirements: | Call Listing Agent, Do Not Contact Tenants, Listing Agent Must Accompany, See Remarks, ShowingTime | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Tenant Pays: | Electricity | |
| Utilities: | BB/HS Internet Available, Electricity Available, Natural Gas Connected, Public, Sewer Connected, Water Connected | Water Source: | Public | |
| Window Features: | Aluminum Frames, Blinds, Window Treatments, Wood Frames | |||
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