422 and 426 Citrus Ave, Eustis, FL 32726

This offering features two quad-plex buildings located at 422 & 426 E. Citrus Avenue in the historic district of Eustis, Florida, just three blocks from downtown. This turnkey investment opportunity includes eight apartment units and four storage units, providing over $97,000 in annual cash flow. The property is currently 100% occupied with annual tenants, providing a blended 6.64% CAP rate. The two separate quadplex buildings are situated on 0.62 acres (115'x 232') with no HOA. The combined heated area is 5,203 square feet, with a total size of 5,797 square feet. Both buildings are connected to City of Eustis water and sewer services. Building 422 features three 1-bedroom, 1-bath units and one 2-bedroom, 1-bath unit, all fully remodeled in 2018. Building 426 consists of four 2-bedroom, 1-bath units, all remodeled in 2019. Building 426 also includes a detached structure with four rental storage units, each with roll-up doors, generating additional income. Each unit has two dedicated parking spaces. The property is within walking distance of Downtown Eustis, Bay Street, Lake Eustis lakefront, restaurants, shops, and city parks, and is approximately 5 minutes from the Lake County Mall, Target, Walmart, and other conveniences. The purchase price includes the properties at 422 E. Citrus Ave (Parcel ID#11-19-20-0100-076-00401, Alt Key#1759641) and 426 E. Citrus Ave (ParcelID#11-19-26-0100-076-00403, Alt. Key#1243122).