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426 E Citrus AVENUE, Eustis, FL, 32726 | $1,175,100
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: 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 NOTENGAGE 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 for more information.
Features
- Rooms: 3
- Bedrooms: 13
- Baths: 8 full
- Lot Size: 60 x 234 & 55 x 232
- Laundry: None
- Style: Historical
- Year Built: 1925
- Garage: 5-car Assigned, Ground Level, Guest, Open
- Heating: Central, Electric
- Cooling: Central Air, Mini-Split Unit(s)
- Approx Sq. Feet: 5,203
- Acreage: 0.62
- Lot Size: 60 x 234 & 55 x 232
- Est. Taxes: $7,255
- Lot Desc: City Lot, Landscaped, Level, Oversized Lot, Sidewalk
- Elem. School: Eustis Elem
- Middle School: Eustis Middle
- High School: Eustis High School
- Pet Policy: Breed Restrictions, Number Limit, Size Limit, Yes
- Appliances: Electric Water Heater, Range, Range Hood, Refrigerator
- MLS#: G5080470
- Days on Market: 37 days
- Website: https://www.raveis.com
/eprop/G5080470/426ecitrusavenue_eustis_fl?source=qrflyer
Listing courtesy of ROCK SPRINGS REALTY, LLC Phone: 877-333-2811
William Raveis Family of Services
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888.699.8876
Contact@raveis.com
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Melissa CohnRVP, Mortgage Banker, William Raveis Mortgage, LLC
NMLS Mortgage Loan Originator ID 16953
917.838.7300
Melissa.Cohn@raveis.com
Our Executive Mortgage Banker:
- Is available to meet with you in our office, your home or office, evenings or weekends
- Offers you pre-approval in minutes!
- Provides a guaranteed closing date that meets your needs
- Has access to hundreds of loan programs, all at competitive rates
- Is in constant contact with a full processing, underwriting, and closing staff to ensure an efficient transaction
Robert ReadeRegional SVP Insurance Sales, William Raveis Insurance
860.690.5052
Robert.Reade@raveis.com
Our Insurance Division:
- Will Provide a home insurance quote within 24 hours
- Offers full-service coverage such as Homeowner's, Auto, Life, Renter's, Flood and Valuable Items
- Partners with major insurance companies including Chubb, Kemper Unitrin, The Hartford, Progressive,
Encompass, Travelers, Fireman's Fund, Middleoak Mutual, One Beacon and American Reliable
426 E Citrus AVENUE, Eustis, FL, 32726
$1,175,100
Customer Service
William Raveis Real Estate
Phone: 888.699.8876
Contact@raveis.com
Melissa Cohn
RVP, Mortgage Banker
William Raveis Mortgage, LLC
Phone: 917.838.7300
Melissa.Cohn@raveis.com
NMLS Mortgage Loan Originator ID 16953
|
5/6 (30 Yr) Adjustable Rate Jumbo* |
30 Year Fixed-Rate Jumbo |
15 Year Fixed-Rate Jumbo |
|
|---|---|---|---|
| Loan Amount | $940,080 | $940,080 | $940,080 |
| Term | 360 months | 360 months | 180 months |
| Initial Interest Rate** | 7.125% | 6.875% | 6.750% |
| Interest Rate based on Index + Margin | 8.125% | ||
| Annual Percentage Rate | 7.851% | 6.989% | 6.936% |
| Monthly Tax Payment | $605 | $605 | $605 |
| H/O Insurance Payment | $125 | $125 | $125 |
| Initial Principal & Interest Pmt | $6,333 | $6,176 | $8,319 |
| Total Monthly Payment | $7,063 | $6,906 | $9,049 |
* The Initial Interest Rate and Initial Principal & Interest Payment are fixed for the first and adjust every six months thereafter for the remainder of the loan term. The Interest Rate and annual percentage rate may increase after consummation. The Index for this product is the SOFR. The margin for this adjustable rate mortgage may vary with your unique credit history, and terms of your loan.
** Mortgage Rates are subject to change, loan amount and product restrictions and may not be available for your specific transaction at commitment or closing. Rates, and the margin for adjustable rate mortgages [if applicable], are subject to change without prior notice.
The rates and Annual Percentage Rate (APR) cited above may be only samples for the purpose of calculating payments and are based upon the following assumptions: minimum credit score of 740, 20% down payment (e.g. $20,000 down on a $100,000 purchase price), $1,950 in finance charges, and 30 days prepaid interest, 1 point, 30 day rate lock. The rates and APR will vary depending upon your unique credit history and the terms of your loan, e.g. the actual down payment percentages, points and fees for your transaction. Property taxes and homeowner's insurance are estimates and subject to change.
William Raveis Mortgage, LLC, NMLS ID 2630, 7 Trap Falls Road, Shelton, CT 06484
FL Mortgage Lender MLD1388