527 E LEMON AVE, EUSTIS, FL, 32726
$629,000
Commercial Sale
|
Living Area
5,415 Sqft
|
Lot Size
24,804 Sqft
|
Investment Opportunity – 6-Unit Multifamily Property Near Historic Downtown Eustis.
Great opportunity to acquire a 6-unit multifamily property located just minutes from historic downtown Eustis, waterfront parks, shopping, dining, and entertainment. Originally built in 1919, this income-producing property offers historic character combined with significant upside potential. The property consists of six residential units with four units currently occupied and two vacant units currently available for lease, providing an immediate opportunity to increase cash flow. Unit mix includes one 3-bedroom/2-bath unit, one 2-bedroom/1-bath unit, and four 1-bedroom/1-bath units.
Several tenants have established rental histories, with a combination of long-term occupants and month-to-month tenancy providing flexibility for future management strategies. The current owner has invested considerable effort into improving the property's marketability and ownership position, including successfully completing a quiet title action resulting in clear title, resolving prior open permit issues, and addressing foundation-related concerns. Conveniently located within close proximity to downtown Eustis and major transportation corridors, the property is well-positioned to benefit from continued growth throughout Lake County.
With two vacant units ready for lease-up and several existing rents offering potential for future adjustment, investors have the opportunity to increase income and maximize returns. This property presents an excellent opportunity for investors seeking a value-add multifamily asset with much of the heavy lifting already completed. Rent roll, lease information, and operating expense summary available upon request. Buyer to verify all measurements, zoning, future use, financial projections, and all information deemed important to the buyer. Do not disturb tenants. Showings by appointment only.
Property Details
| Property Features | Property Features | |||
|---|---|---|---|---|
| MLS ID: | MFRG5113226 | Year Built: | 1919 | |
| Community Features: | Sidewalks | Construction Materials: | Frame | |
| Cooling: | Wall/Window Unit(s) | Country: | US | |
| County Or Parish: | Lake | Foundation Details: | Crawlspace | |
| Heating: | Natural Gas | Levels: | Two | |
| Listing Agreement: | Exclusive Right To Sell | Listing Terms: | Cash | |
| Lot Features: | Corner Lot, Sidewalk | Occupant Type: | Tenant | |
| Property Sub Type: | Multi-Family 5+ | Property Type: | Commercial Sale | |
| Road Frontage Type: | City Street | Road Responsibility: | Public Maintained Road | |
| Road Surface Type: | Asphalt | Roof: | Metal, Shingle | |
| Sewer: | Public Sewer | Showing Requirements: | Appointment Only, Call Listing Agent, Combination Lock Box, ShowingTime | |
| Special Listing Conditions: | None | Standard Status: | Active | |
| State Or Province: | FL | Utilities: | Electricity Available, Natural Gas Available | |
| Water Source: | Public | |||
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