426 Citrus Avenue
Eustis, FL 32726
$1,150,000
Price
13
Beds
5,203 Sq. Ft.
$221 / Sq. Ft.
5,203
Sq. Ft.
$221
per Sq. Ft.
Virtual Tour
Virtual Tour
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..."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.
- Listed by Joel Bornstein • ROCK SPRINGS REALTY, LLC
Property Details for 426 Citrus Avenue
Subdivision Name
EUSTIS
Township19S
Garage Spaces5
WaterfrontNo
FurnishedUnfurnished
LISTING UPDATED: 09/26/2024 11:50 AM
Property Details for 426 Citrus Avenue
| Status | Active |
|---|---|
| MLS # | G5079488 |
| Days on Market | 232 |
| Taxes | $7,255 / year |
| HOA Fees | - |
| Condo/Co-op Fees | - |
| Compass Type | Multi Family |
| MLS Type | Residential Income / Multi-Family |
| Year Built | 1925 |
| Lot Size | 0.62 AC / 27,084 SF |
| County | Lake County |
Virtual Tour
Building Information for 426 Citrus Avenue
Stories-Residences8Year Built1925Building Size-Lot Size0.62 AC / 27,084 SF
Property Information for 426 Citrus Avenue
Summary
Location and General Information
- Building Area Source: Estimated
- Building Area Total: 5797.0
- Building Area Units: Square Feet
- Directions: From Hwy 441 in Eustis, head north on S. Bay Street (19) for approximately 2 miles. Turn right onto Citrus Ave and follow down. Property will be down on the right.
- Elementary School: Eustis Elem
- Middle Or Junior School: Eustis Middle
- High School: Eustis High School
- Mls Major Change Type: Price Decrease
- Listing Service: Full Service
- Senior Community: No
- Unit Number: No
- Street Number: 426
- Street Direction Prefix: E
- Street Name: CITRUS
- Street Suffix: AVENUE
- State: FL
- City: EUSTIS
Parking
- Attached Garage: No
- Available For Lease: Yes
- Carport: No
- Garage Dimensions: 20x48
- Garage: Yes
- Parking Features: Assigned, Ground Level, Guest, Open
Taxes and HOA Information
- Association Approval Required: No
- Association: No
- CDD: No
- Number Of Pets: 2
- Pet Restrictions: Pet Restrictions Provided Upon Request.
- Pet Size: Small (16-35 Lbs.)
- Tax Block: 076
- Tax Book Number: 1-79
- Tax Legal Description: 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
- Tax Lot: 4
- Tax Year: 2023
Virtual Tour
- Virtual Tour URL Unbranded: https://vimeo.com/923455452/46186054c3?share=copy
Property
Lot Information
- Additional Parcels Description: 11-19-26-0100-076-00401
- Additional Parcels: Yes
- Lot Features: In City Limits, Landscaped, Level/Flat, Oversized Lot, Sidewalk, Street Paved
- Lot Size Dimensions: 60x234 & 55x232
- Parcel Number: 11-19-26-0100-076-00403
- Total Acreage: 1/2 to less than 1
- Total Num Buildings: 3
- Water Access: No
- Water Extras: No
- Zoning: SR
- Living Area: 5203
- Lot Dimensions: 60x234 & 55x232
Property and Assessments
- Year Built Numeric: 1925
- Flood Zone Code: x
- Flood Zone Date: 12-18-2012
- Flood Zone Panel: 12069C0356E
- Homestead: No
- New Construction: No
- Number Of Lots: 2
- Property Condition: Completed
- Public Survey Range: 26E
- Public Survey Section: 11
Utilities
- Sewer: Public Sewer
- Utilities: BB/HS Internet Available, Electricity Available, Natural Gas Connected, Public, Sewer Connected, Water Connected
- Water Source: Public
Interior and Exterior Features
Exterior Features
- Construction Materials: Stucco, Wood Frame, Wood Siding
- Exterior Features: Awning(s), Lighting, Sidewalk, Storage
- Foundation Details: Crawlspace, Slab
- Levels: Multi/Split
- Other Structures: Storage
- Patio And Porch Features: Covered, Enclosed, Front Porch, Patio, Rear Porch, Screened
- Pool Private: No
- Pool: None
- Pool Private: No
- Roof: Metal, Other
- Security Features: Smoke Detector(s)
- Spa: No
- Waterfront Feet Total: 0
Interior Features
- Bedrooms Total: 13
- Additional Rooms: Bonus Room, Family Room, Storage Rooms
- Appliances: Electric Water Heater, Range, Range Hood, Refrigerator
- Cooling: Central Air, Mini-Split Unit(s)
- Fireplace: No
- Flooring: Carpet, Ceramic Tile, Laminate, Luxury Vinyl, Wood
- Heating: Central, Electric
- Interior Features: Built in Features, Ceiling Fans(s), Eating Space In Kitchen, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
- Laundry Features: None
- Living Area Source: Estimated
- Living Area Units: Square Feet
- Water View: No
- Window Features: Aluminum Frames, Blinds, Window Treatments, Wood Frames
Multi Family
Multi-Family Information
- Annual Net Income: $62,635.00
- Gross Income: $95,220
- Total Monthly Expenses: $2,716
- Unit Count: 8
Unit 1
- Unit Type Baths Total 1: 1
- Unit Type Beds Total 1: 1
- Unit Type Description 1: 422 E. Citrus, Unit#A
- Unit Type Heated Sq Ft 1: 485
- Unit Type Number Of Units Occupied 1: 1
- Unit Type Pro Forma 1: 800
- Unit Type Type 1: 1 Bed/1 Bath
- Unit Type Units Total 1: 1
Unit 2
- Unit Type Baths Total 2: 1
- Unit Type Beds Total 2: 1
- Unit Type Description 2: 422 E. Citrus, Unit#B
- Unit Type Heated Sq Ft 2: 584
- Unit Type Number Of Units Occupied 2: 1
- Unit Type Pro Forma 2: 935
- Unit Type Type 2: 1 Bed/1 Bath
- Unit Type Units Total 2: 1
Unit 3
- Unit Type Baths Total 3: 1
- Unit Type Beds Total 3: 2
- Unit Type Description 3: 422 E. Citrus, Unit#C
- Unit Type Heated Sq Ft 3: 1128
- Unit Type Number Of Units Occupied 3: 1
- Unit Type Pro Forma 3: 900
- Unit Type Type 3: 2 Bed/1 Bath
- Unit Type Units Total 3: 1
Unit 4
- Unit Type Baths Total 4: 1
- Unit Type Beds Total 4: 1
- Unit Type Description 4: 422 E. Citrus, Unit#D
- Unit Type Heated Sq Ft 4: 702
- Unit Type Number Of Units Occupied 4: 1
- Unit Type Pro Forma 4: 850
- Unit Type Type 4: 1 Bed/1 Bath
- Unit Type Units Total 4: 1
Unit 5
- Unit Type Baths Total 5: 1
- Unit Type Beds Total 5: 2
- Unit Type Description 5: 426 E. Citrus, Unit#1
- Unit Type Heated Sq Ft 5: 502
- Unit Type Number Of Units Occupied 5: 1
- Unit Type Pro Forma 5: 900
- Unit Type Type 5: 2 Bed/1 Bath
- Unit Type Units Total 5: 1
Unit 6
- Unit Type Baths Total 6: 1
- Unit Type Beds Total 6: 2
- Unit Type Description 6: 426 E. Citrus, Unit#2
- Unit Type Heated Sq Ft 6: 502
- Unit Type Number Of Units Occupied 6: 1
- Unit Type Pro Forma 6: 900
- Unit Type Type 6: 2 Bed/1 Bath
- Unit Type Units Total 6: 1
Unit 7
- Unit Type Baths Total 7: 1
- Unit Type Beds Total 7: 2
- Unit Type Description 7: 426 E. Citrus, Unit#3
- Unit Type Heated Sq Ft 7: 502
- Unit Type Number Of Units Occupied 7: 1
- Unit Type Pro Forma 7: 875
- Unit Type Type 7: 2 Bed/1 Bath
- Unit Type Units Total 7: 1
Unit 8
- Unit Type Baths Total 8: 1
- Unit Type Beds Total 8: 2
- Unit Type Description 8: 426 E. Citrus, Unit#4
- Unit Type Heated Sq Ft 8: 502
- Unit Type Number Of Units Occupied 8: 1
- Unit Type Pro Forma 8: 900
- Unit Type Type 8: 2 Bed/1 Bath
- Unit Type Units Total 8: 1
Rental
Rental Information
- Tenant Pays: Electricity
- Total Actual Rent: $7,935
- Minimum Lease Period: 0
- Pets Allowed: Breed Restrictions, Number Limit, Size Limit, Yes
Property History for 426 Citrus Avenue
| Date | Event & Source | Price | Appreciation |
|---|
| Date | Event & Source | Price |
|---|
For completeness, Compass often displays two records for one sale: the MLS record and the public record.
Public Records for 426 Citrus Avenue
Taxable ValueLand-Additions-Total-
Tax Record2023$3,658 ($305 / month)
Home Facts
Baths4Total Finished SqFt2,304 SqFtAbove Grade Finished SqFt2,304 SqFtStories2Lot Size14,335 SqFtStyleQuadraplexYear Built1925Year Renovated2008CountyLAKEAPN11-19-26-0100-076-00403
Schools near 426 Citrus Avenue
This home is within Lake.
Rating | School | Type | Grades | Distance |
|---|---|---|---|---|
| Public - | PK to 5 | |||
| Public - | 6 to 8 | |||
| Public - | 9 to 12 | |||
| Public - | K to 12 |
Rating | School | Distance |
|---|---|---|
Eustis Elementary School PublicPK to 5 | ||
Eustis Middle School Public6 to 8 | ||
Eustis High School Public9 to 12 | ||
Lake Virtual Instruction Course Offerings PublicK to 12 |
School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.
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Listing Courtesy of ROCK SPRINGS REALTY, LLC, Joel Bornstein
The information being provided by MFRMLS and Daytona Multiple Listing Service is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties the consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of MFRMLS or Daytona Multiple Listing Service. Real estate listings held by brokerage firms other than this site owner are marked with the IDX/MLS logo. Information deemed reliable but is not guaranteed accurate by MFRMLS or Daytona Multiple Listing Service. Last updated: 09/26/2024 11:50 AM
