Sign Up Successful!
You now have access to more from Realmo!
    For Sale
    • For Sale
    • For Lease
    • Recently Sold
    • Property Lookup
    • Brokers
    AI Search
    The Largest CRE Database in the US with Over 1 Million Listings

    422 E Citrus Ave Eustis, FL 32726

    Sponsored
    For Sale
    $490,000

    Quadruplex - EUSTIS, FL

    Type:Quadruplex
    Property size:
    2,841 SF
    Lot size:
    0.29 Acres
    Days on Market:
    2
    Last Refresh:
    Feb 18 at 7:06 am

    Property Features for 422 E Citrus Ave

    General Information

    Property type
    Residential Multi Family
    Property subtype
    Quadruplex
    Standard status
    Active
    Zoning
    SR
    Rooms
    Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
    Bedrooms
    5
    APN
    11-19-26-0100-076-00401
    Parking features
    Guest
    Pets allowed
    Breed Restrictions, Number Limit, Size Limit, Yes
    Interior features
    Built-in Features, Ceiling Fans(s), Eat-in Kitchen, Kitchen/Family Room Combo, Primary Bedroom Main Floor, Primarybedroom Upstairs, Solid Wood Cabinets, Split Bedroom, Thermostat, Walk-in Closet(s), Window Treatments
    Exterior features
    Level, Paved, Lighting, Sidewalk
    Appliances
    Range, Refrigerator
    Size
    2,841 SF
    Lot size
    0.29 Acres

    Utilities

    Heating system
    Central, Electric (Heating)
    Cooling system
    Ductless, Multi Units

    Building Details

    Year built
    1884
    Number of units
    4
    Flooring type
    Carpet, Laminate, Tile, Tile - Ceramic, Wood
    Building materials
    Frame
    Roof type
    Metal, Shingle
    Architectural style
    Other

    We can help!

    Listing Contact
    Joel Bornstein

    Rock Springs Realty, LLC (877) 333-2811

    Listing agent Joel Bornstein (877) 333-2811 License #3211229

    Listing date Feb 17, 2026

    MLS# G5108016 Listing URL

    Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.

    Learn more

    Property Insight Report

    Overview

    EUSTIS Quadplex with Storage Units

    Located in the historic district of Eustis, Florida, this property features a quadplex apartment building and a detached four-unit rental storage building. The quadplex units, fully remodeled in 2019, include living and dining rooms, a full kitchen, a full bathroom, a primary bedroom, a bonus room or second bedroom, and a rear porch. Each unit has two dedicated parking spaces. The rental storage building has roll-up doors and generates monthly income. The property is located close to Downtown Eustis and Bay Street, Lake Eustis lakefront, restaurants, shops, city parks, and the Lake County Mall, Target, and Walmart. The property is 100% occupied, with all tenants on annual leases. The property is located on a 0.29-acre lot and has 2841 square feet of space. The property is zoned SR. The gross revenue is $50,100.00 and the net operating income is $32,040.00. The property is located three blocks from downtown.
    Property Profile Insight Report Location Intelligence

    Current Use by Public Records

    Quadplexes

    Suggested Use

    Real Estate Agency Law Firm Restaurant Spa & Massage Center Dental Office Hair Salon Nail Salon Building Supply Auto Repair Shop Gym & Fitness Center

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Eustis
    County
    Lake
    State
    Florida
    Longitude
    -81.68075666
    Latitude
    28.851511

    Nearby Similar for Sale

    • New
      $980,000
      5,203 SF

      EUSTIS Multi-Family Investment Opportunity

      Two quad-plex buildings with storage units in historic Eustis.
      422 E Citrus Ave, Eustis, FL 32726
      View Details
    • New
      $490,000
      2,304 SF

      EUSTIS Quadplex with Storage Units

      Turnkey investment opportunity: quadplex plus storage units in Eustis, FL.
      426 E Citrus Ave, Eustis, FL 32726
      View Details
    • $840,000
      3,158 SF

      EUSTIS Medical Office For Sale

      Medical office building in Eustis Central Business District.
      801 N Bay St, Eustis, FL 32726
      View Details
    • $1,500,000
      8,000 SF

      EUSTIS Mixed-Use Income Property

      Fully leased mixed-use property in Eustis, Florida, generating income.
      3101 Kurt St, Eustis, FL 32726
      View Details
    • $1,250,000
      2,310 SF

      EUSTIS Agriculture Property on 9 Acres

      9 acres with greenhouses, residence, and highway frontage.
      20900 State Road 44, Eustis, FL 32736
      View Details
    • $749,000
      4,066 SF

      Rehabbed 7-Unit Multifamily Property

      Stabilized 7-unit multifamily property with strong rental history.
      205 S Grove St, Eustis, FL 32726
      View Details
    • $249,999
      1,717 SF

      Turnkey Salon with Real Estate

      Operating beauty salon with real estate for sale in EUSTIS.
      1430 Morin St, Eustis, FL 32726
      View Details
    • $329,900
      2,477 SF

      EUSTIS Duplex: Income Opportunity

      Income-producing duplex near downtown Eustis, offering strong cash flow.
      206 Osceola Ave, Eustis, FL 32726
      View Details
    • $379,999
      Pending

      Eustis Duplex with Recent Upgrades

      Well-maintained duplex in Eustis, near downtown, ideal for investors.
      528 E Citrus Ave, Eustis, FL 32726
      View Details
    • $2,750,000
      25,000 SF

      EUSTIS Warehouse with Office Space

      25,000 SF warehouse with office on 8 acres.
      34135 Cardinal Ln, Eustis, FL 32736
      View Details
    • $393,000
      1,798 SF

      EUSTIS Duplex Corner Unit

      Cash flowing, remodeled duplex with modern amenities and convenient location.
      414 Jennifer Ln, Eustis, FL 32726
      View Details
    • $440,000
      3,021 SF

      Versatile Office Space in Eustis

      Adaptable office space with private parking near downtown Eustis.
      600 N Eustis St, Eustis, FL 32726
      View Details

    FAQs

    What type of property is this?
    Quadplex - Turnkey quadplex with storage units in historic Eustis, FL.
    Where is this quadplex located?
    The property is located at 422 E Citrus Ave Eustis, FL.
    What is the asking price?
    The asking price for this property is $490,000.
    What are key features of this property?
    This property features: - Turnkey Investment: 100% Occupied Quad-Plex with Additional Storage Rental Units.; - Strong Income: $50,100 Gross Revenue and $32,040 Net Operating Income, delivering a 6.16% CAP Rate.; - Prime Location: Historic Eustis, FL, just 3 blocks from downtown and walking distance to amenities.
    (877) 333-2811
    Request Owner's contact information
    422 E Citrus Ave Eustis, FL 32726
    Message sent successfully
    Error
    If you are the owner or broker of this property and would like to edit or remove this listing please send a message to web site administrator.
    422 E Citrus Ave
    Eustis, FL 32726
    Message sent successfully
    Error
    Email to Your Friends
    Link copied to clipboard
    Separate multiple addresses with a comma
    Message sent successfully
    Error

    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    422 E Citrus Ave Eustis, FL 32726
    Thanks! Your message was sent.
    Error! Your message wasn't sent.
    Please enter your name
    Please enter email
    Please enter the email in the correct format
    Please enter phone
    Please enter the number in the correct format
    Please enter message
    Thank You

    You are Unsubscribed From Notifications

    We can help!
    Listing Contact
    Joel Bornstein
    Real Estate License ID: 3211229
    (877) 333-2811 (407) 252-8092
    Learn more
    Google sign-in failed. Please try again or use another login method.