426 E Citrus Ave - Apartments FOR SALE


Eustis, FL 32726
$1,150,100 USD
877-333-2811
426 E Citrus Ave, Eustis, FL for Sale
$1,150,100 USD
Apartments - FOR SALE
1/16
null | 8% Cap Rate

426 E Citrus Ave
Eustis, FL 32726


OVERVIEW

"NEW 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. NOTE: SELLER FINANCING AVAILABLE FOR A SMALL PERCENTAGE (25% +/-) OF THE PURCHASE PRICE FOR QUALIFIED BUYERS. 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 with 100% occupancy, annual tenants, and providing a solid 8% CAP-RATE. 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: 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 Proformas. 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 infor.

FOR SALE DETAILS

PRICE

$1,150,100 USD

PRICE/SF

$198 USD /SF

# OF UNITS

8

PRICE/UNIT

$143,763

CAP RATE

8%

% LEASED

100%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

426 & 422 E CITRUS AVE, EUSTIS, FL 32726

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1925

PARKING SPACES

32

LAND DETAILS

LAND ACRES

0.62 AC

LAND SF

27,007 SF

ZONING

SR

APN/PARCEL ID

11-19-26-0100-076-00401,11-19-26-0100-076-00403

ASK ABOUT THIS PROPERTY

Joe BornsteinRock Springs Realty, LLCMore Info
877-333-2811

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Joe BornsteinRock Springs Realty, LLCMore Info
877-333-2811

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.