Four-Unit Occupied
422 E CITRUS Avenue, Eustis, FL 32726
For Sale
$469,500
Residential Income, EUSTIS, FL
Property Size2,841 SF
Lot Size0.29 Acres
Price / SF$165.26
Days on Market266
Property Features for 422 E CITRUS Avenue
General Information
Property type
Property subtype
Zoning
Bedrooms
Bathrooms
Full bathrooms
Rooms
Parking features
Window features
Patio and Porch features
Pets allowed
Interior features
Exterior features
Appliances
Subdivision
Lot features
Elementary school
Middle school
High school
Directions
Standard status
APN
Size
Lot size
Additional Details
Tenant in Place
Taxes and HOA fees
Tax Year
Tax Description
Tax Annual Amount
Legal Description
Utilities
Utilities
Sewer type
Heating system
Water source
Building Details
Year built
Floors in Building
Number of units
Flooring type
Building materials
Roof type
Buildings
Listing Agency:
ROCK SPRINGS REALTY, LLC
(877) 333-2811
Listed By:
Joel Bornstein · License #3211229
(407) 252-8092
Added: Feb 17
Changed: Nov 6
Last Checked: Nov 9 at 4:06AM
MLS# G5108016
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 residential income property contains 2,841 square feet on a 0.29-acre lot. Each residence includes living and dining areas, a full kitchen, a full bathroom, a primary bedroom, a bonus or second bedroom, and a rear porch. Interior features include ceramic tile, wood, laminate, and carpet flooring, along with ceiling fans, window treatments, solid wood cabinets, and electric central heating. The property has frame construction, metal and shingle roofing, patios, sidewalks, and public water and sewer service.
Built in 1884, the property is within Eustis's historic district and approximately three blocks from downtown. Lake Eustis waterfront, restaurants, shops, city parks, Bay Street, and other downtown conveniences are within walking distance. The Lake County Mall, Target, and Walmart are approximately five minutes away.
All four units are occupied under annual leases, with a stated 7.03% cap rate. Each unit is assigned two dedicated parking spaces, and the property is zoned SR.
Built in 1884, the property is within Eustis's historic district and approximately three blocks from downtown. Lake Eustis waterfront, restaurants, shops, city parks, Bay Street, and other downtown conveniences are within walking distance. The Lake County Mall, Target, and Walmart are approximately five minutes away.
All four units are occupied under annual leases, with a stated 7.03% cap rate. Each unit is assigned two dedicated parking spaces, and the property is zoned SR.
Key Highlights
- Four‑unit property totaling 2,841 square feet on 0.29 acres
- 100% occupied with all tenants on annual leases
- Stated 7.03% cap rate
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$37,892
Cap Rate
8.07%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$757,840
$757.8K
Cap Rate 7%
$541,314
$541.3K
Cap Rate 9%
$421,022
$421.0K
Market Conditions
NOI Build-Up for 2,841 SF
Gross rent
$58.0K $20.40/SF
− Vacancy
−$3.8K −$1.35/SF
EGI
$54.1K $19.05/SF
− OpEx
−$16.2K −$5.72/SF
NOI
$37.9K $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%
$757,840
Cap Rate 7%
$541,314
Cap Rate 9%
$421,022
Alternative Uses
Best Use
Multifamily LT 5
$541.3K
$473.7K – $631.5K
NOI $37,892 @ 7.0% cap · market cap 8.07%
Second Best
Apartment 5plus
$498.4K
$436.1K – $581.5K
NOI $34,888 @ 7.0% cap · market cap 7.43%
Theoretical Best
Office A
$808.5K
$707.4K – $943.2K
NOI $56,593 @ 7.0% cap · market cap 12.05%
Zoning and permitted uses should be independently verified with authorities.
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Lease Details
4
Residential units
100%
Occupancy
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
847
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 residences feature individual kitchens, porches, annual leases, and dedicated parking within a walkable downtown setting.
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 $469,500.
What are key features of this property?
This property features: Four‑unit property totaling 2,841 square feet on 0.29 acres; 100% occupied with all tenants on annual leases; Stated 7.03% cap rate
