EUSTIS Quadplex Investment
422 E CITRUS AVENUE, Eustis, FL 32726
Quadruplex - EUSTIS, FL
Type:Quadruplex
Property size:
2,841 SFLot size:
0.29 AcresPrice / SF:
$172/SF- Added:
- Feb 17, 2026
- Days on Market:
- 89
- Last Refresh:
- May 17 at 1:06 pm
Property Features for 422 E CITRUS AVENUE
General Information
- Property type
- Residential Multi Family
- Property subtype
- Quadruplex
- Zoning
- SR
- Bedrooms
- 5
- Rooms
- Bedroom 1, Bedroom 2, Bedroom 3, Bedroom 4, Bedroom 5
- 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
- Standard status
- Active
- APN
- 11-19-26-0100-076-00401
- Size
- 2,841 SF
- Lot size
- 0.29 Acres
Taxes and HOA fees
- Tax Year
- 2025
- Tax Annual Amount
- 3915
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
Listing agent Joel Bornstein License #3211229 (877) 333-2811
Listing office ROCK SPRINGS REALTY, LLC 3780 Rochelle Lane, Apopka, FL (877) 333-2811
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.
HighLights
- Turnkey quad‑plex apartment building, 100% occupied with annual leases, providing immediate rental income.
- Located in the historic district of Eustis, just 3 blocks from downtown, offering convenient access to amenities.
- Delivering a 6.74% CAP Rate with potential for additional revenue.
- No HOA fees, reducing operating costs.
- Each unit includes living/dining rooms, full kitchen, full bathroom, primary bedroom, bonus/bedroom#2, and rear porch, plus 2 dedicated parking spaces.
- Close proximity and walking distance to Downtown Eustis, Lake Eustis lakefront, restaurants, shops, city parks, and a short drive to major retail.
Overview
This quadplex apartment building is located in the historic district of Eustis, Florida, three blocks from downtown. The property is currently delivering a 6.74% CAP Rate. The gross revenue is $47,220.00 and the net operating income is $33,049.00. This is a turnkey investment opportunity and is 100% occupied with all tenants on annual leases. There is no HOA. The City of Eustis provides water and sewer services. Each unit includes living/dining rooms, a full kitchen, a full bathroom, a primary bedroom, a bonus/bedroom #2, and a rear porch. Each unit has two dedicated parking spaces. All units are in good operating condition. The property is located within close proximity and walking distance to Downtown Eustis and Bay Street, Lake Eustis lakefront, restaurants, shops, city parks and is 5 minutes to the Lake County Mall, Target, Walmart, and other conveniences. The property is zoned SR. The lot size is 0.29 acres and the property size is 2841 square feet.
Financial Insights
Value Estimation Calculated for Multifamily LT 5
Conservative
$421.0K
NOI $37,892 @ 9.00% cap · cautious / downside scenario
Moderate
$541.3K
NOI $37,892 @ 7.00% cap · market / base-case scenario
Aggressive
$757.8K
NOI $37,892 @ 5.00% cap · optimistic / upside scenario
NOI & Cap Rate Calculator
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
Calculated for Multifamily LT 5
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $58.0k | $20.40 |
| − Vacancy | −$3.8k | −$1.35 |
| EGI | $54.1k | $19.05 |
| − OpEx | −$16.2k | −$5.72 |
| NOI | $37.9k | $13.34 |
2,841 SF · lease $20.40/SF/yr · vacancy 6.60% · expense 30.00%
Alternative Use Scenarios
Best Use
Multifamily LT 5
$541.3K
$473.7K – $631.5K
NOI $37,892 @ 7.0% cap · market cap 7.73%
Second Best
Apartment 5plus
$498.4K
$436.1K – $581.5K
NOI $34,888 @ 7.0% cap · market cap 7.12%
Theoretical Best
Office A
$808.5K
$707.4K – $943.2K
NOI $56,593 @ 7.0% cap · market cap 11.55%
Zoning and permitted uses should be independently verified with local authorities.
Property Profile
Insight Report
Location Intelligence
Current Use by Public Records
Quadplexes
Location Insight
- Map
- Local Demand
- City
- Eustis
- County
- Lake
- State
- Florida
- Longitude
- -81.6807567
- Latitude
- 28.851511
Nearby Similar for Sale
FAQs
What type of property is this?
Quadplex - Quadplex in Eustis historic district, 100% occupied, turnkey investment.
Where is this quadplex located?
The property is located at 422 E CITRUS AVENUE 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 quad‑plex apartment building, 100% occupied with annual leases, providing immediate rental income.; Located in the historic district of Eustis, just 3 blocks from downtown, offering convenient access to amenities.; Delivering a 6.74% CAP Rate with potential for additional revenue.
