Eustis Quad-Plex with Storage
For Sale
$469,900
426 Citrus Avenue, Eustis, FL 32726
Turnkey investment opportunity: quad-plex plus four storage units.
Property Size2,304 SF
Price / SF$203.95
Days on Market257
Property Features for 426 Citrus Avenue
General Information
Standard status
Active
Size
2,304 SF
Property subtype
Residential Income / Quadruplex
Zoning
SR
Taxes and HOA fees
Annual Taxes
$3,645
Amenities
Mini-Split Unit(s)
Central, Electric
Laminate, Luxury Vinyl, Hardwood
No
Electric Water Heater, Range, Range Hood, Refrigerator
4
Aluminum Frames, Blinds, Window Treatments
Bonus Room, Family Room
Built-in Features, Ceiling Fan(s), Living Room/Dining Room Combo, Primary Bedroom Main Floor, PrimaryBedroom Upstairs, Split Bedroom, Thermostat, Walk-In Closet(s), Window Treatments
Square Feet
Estimated
Membrane
Two
Storage
Outbuilding, Awning(s), Lighting, Sidewalk, Storage
Smoke Detector(s)
Crawlspace, Slab
Stucco, Wood Frame
Patio, Rear Porch
Building Details
Year Built
1925
Listing Agency:
ROCK SPRINGS REALTY, LLC
Listed By:
Joel Bornstein · License #3211229
(407) 252-8092
Source:
Compass
Added: Jan 26
Changed: Oct 8
Last Checked: Oct 10 at 12:11AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of ROCK SPRINGS REALTY, LLC
Investment Insights
Based on property information with market context.
This is a quad-plex apartment building with an additional four storage rental units, located in the historic district of Eustis, Florida, just three blocks from downtown. The property is currently delivering a 6.16% CAP Rate with additional revenue potential. This turnkey investment opportunity is 100% occupied, and all tenants are on annual leases. There is no HOA. The property utilizes City of Eustis water and sewer services. Each unit includes living and dining rooms, a full kitchen, a full bathroom, a primary bedroom, a bonus room or second bedroom, and a rear porch, along with two dedicated parking spaces. All units were fully remodeled and updated in 2019. The property also includes a detached four-unit rental storage building with roll-up doors, generating $500.00 in monthly income. The property is located within close proximity and walking distance to Downtown Eustis and Bay Street, Lake Eustis lakefront, lots of restaurants, shops, city parks and just 5-minutes to the Lake County Mall, Target, Walmart, etc. and a variety of other conveniences for the tenants and their guests. The property has a walk score of 80, indicating it is very walkable, and a bike score of 49, indicating it is somewhat bikeable.
Key Highlights
- Turnkey quad‑plex apartment building with additional (4) storage rental units, 100% occupied with annual leases.
- Located in the historic district of Eustis, just (3) blocks from downtown and within walking distance to amenities.
- Currently delivering a 6.16% CAP Rate with additional revenue potential from storage units.
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.
Property Analytics
Unlock full access to Insights
Subscribe to Realmo Intelligence
Open Analytics
Current Use
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
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
View Realmo Analytics
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Turnkey investment opportunity: quad-plex plus four storage units.
Where is this quadplex located?
The property is located at 426 Citrus Avenue Eustis, FL.
What is the asking price?
The asking price for this property is $469,900.
What are key features of this property?
This property features: Turnkey quad‑plex apartment building with additional (4) storage rental units, 100% occupied with annual leases.; Located in the historic district of Eustis, just (3) blocks from downtown and within walking distance to amenities.; Currently delivering a 6.16% CAP Rate with additional revenue potential from storage units.
