Four-Unit Multifamily with
For Sale
Under Contract
$469,800
426 E CITRUS Avenue, Eustis, FL 32726
Residential Income, EUSTIS, FL
Property Size2,304 SF
Lot Size0.32 Acres
Price / SF$203.91
Days on Market273
Property Features for 426 E CITRUS Avenue
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
SR
Bedrooms
4
Bathrooms
4
Full bathrooms
4
Rooms
Bedroom 4, Bathroom 2, Dining Room, Bedroom 2, Bedroom 3, Bedroom 1, Bathroom 1, Bathroom 3, Bathroom 4
Parking features
Guest, Open, Assigned
Window features
Aluminum Frames, Blinds, Window Treatments
Patio and Porch features
Porch, Patio
Pets allowed
Number Limit, Breed Restrictions, Size Limit, Yes
Interior features
Built-in Features, Ceiling Fans(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
Exterior features
Outbuildings, Awning(s), Lighting, Sidewalk, Storage
Appliances
Electric Water Heater, Range, Range Hood, Refrigerator
Subdivision
EUSTIS
Lot features
City Limits, Landscaped, Level, Oversized Lot, Sidewalk, Paved
Elementary school
Eustis Elem
Middle school
Eustis Middle
High school
Eustis High School
Directions
From Hwy 441 in Eustis, head north on S. Bay Street (Hwy 19) for approximately 2 miles. Turn right onto Citrus Ave and follow down. Property will be down on the right.
Standard status
Active Under Contract
APN
11-19-26-0100-076-00403
Size
2,304 SF
Lot size
0.32 Acres
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Tax Year
2025
Tax 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 Annual Amount
3645
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
Utilities
Utilities
Electricity Available
Sewer type
Public Sewer
Heating system
Central, Electric (Heating)
Water source
Public
Building Details
Year built
1925
Floors in Building
2
Number of units
4
Flooring type
Vinyl, Laminate, Wood
Building materials
Stucco, Frame
Roof type
Membrane
Additional Structures
Outbuilding, Storage
Buildings
2
Listing Agency:
ROCK SPRINGS REALTY, LLC
(877) 333-2811
Listed By:
Joel Bornstein
(407) 252-8092
Added: Jan 26
Changed: Oct 26
Last Checked: Oct 26 at 9:06AM
MLS# G5107267
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.
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Investment Insights
Based on property information with market context.
This four-unit multifamily property includes 2,304 square feet of building area on a 0.32-acre parcel. The apartments were remodeled in 2019, and the property also has a separate four-unit storage building with roll-up doors. Two dedicated parking spaces are provided. City water and sewer serve the property, which is zoned SR.
All four apartments are occupied under annual leases, with a stated 6.82% cap rate. The property is in Eustis’s historic district, three blocks from downtown and within walking distance of Bay Street, the Lake Eustis waterfront, restaurants, shops, and city parks. The remarks also place Lake County Mall, Target, and Walmart a five-minute drive away.
All four apartments are occupied under annual leases, with a stated 6.82% cap rate. The property is in Eustis’s historic district, three blocks from downtown and within walking distance of Bay Street, the Lake Eustis waterfront, restaurants, shops, and city parks. The remarks also place Lake County Mall, Target, and Walmart a five-minute drive away.
Key Highlights
- Four apartment units plus a detached four‑unit storage building with roll‑up doors
- 2,304 square feet of building area on a 0.32‑acre parcel
- All apartments occupied; tenants are on annual leases
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$30,730
Cap Rate
6.54%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,600
$614.6K
Cap Rate 7%
$439,000
$439.0K
Cap Rate 9%
$341,444
$341.4K
Market Conditions
NOI Build-Up for 2,304 SF
Gross rent
$47.0K $20.40/SF
− Vacancy
−$3.1K −$1.35/SF
EGI
$43.9K $19.05/SF
− OpEx
−$13.2K −$5.72/SF
NOI
$30.7K $13.34/SF
Area
Lake County, FL
Vacancy
6.60%
Lease Rate
$20.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$614,600
Cap Rate 7%
$439,000
Cap Rate 9%
$341,444
Alternative Uses
Best Use
Multifamily LT 5
$439.0K
$384.1K – $512.2K
NOI $30,730 @ 7.0% cap · market cap 6.54%
Second Best
Apartment 5plus
$404.2K
$353.7K – $471.6K
NOI $28,294 @ 7.0% cap · market cap 6.02%
Theoretical Best
Office A
$655.7K
$573.7K – $764.9K
NOI $45,896 @ 7.0% cap · market cap 9.77%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Location Intelligence
Trade Area within ½ mile
874
Businesses Nearby
Explore this area
Business Placement
Demographics for 32726, FL
23,012
Population
11,168
Households
2.1
Avg Household Size
45
Median Age
21%
College-Educated
88%
High-School Grad
11.5 sq mi
ZIP Area
2,001
Density / Sq Mi
$60,750
Median Household Income
$37,197
Median Earnings
$1,027
Median Rent
$230,400
Median Home Value
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Market
Vacancy Rate% for Multifamily in South region
Frequently Asked Questions
What type of property is this?
Quadplex - Four apartments are paired with a detached building containing four rental storage units.
Where is this quadplex located?
The property is located at 426 E CITRUS Avenue Eustis, FL.
What is the asking price?
The asking price for this property is $469,800.
What are key features of this property?
This property features: Four apartment units plus a detached four‑unit storage building with roll‑up doors; 2,304 square feet of building area on a 0.32‑acre parcel; All apartments occupied; tenants are on annual leases
