527 E Lemon Avenue, Eustis, FL 32726
- $629,000
- 5,415
- SqFt
- List Price
- $629,000
- Status
- Active
- Days on Market
- 38
- MLS#
- G5113226
- Property Style
- Multi-Family 5+
- Year Built
- 1919
- Living Area
- 5,415
- Lot Size
- 24,804
- Acres
- 0.57
- Total Acreage
- 1/2 to less than 1
- Legal Subdivision Name
- Eustis
- MLS Area Major
- Eustis
Property Description
Investment Opportunity – 6-Unit Multifamily Property Near Historic Downtown Eustis. Great opportunity to acquire a 6-unit multifamily property located just minutes from historic downtown Eustis, waterfront parks, shopping, dining, and entertainment. Originally built in 1919, this income-producing property offers historic character combined with significant upside potential. The property consists of six residential units with four units currently occupied and two vacant units currently available for lease, providing an immediate opportunity to increase cash flow. Unit mix includes one 3-bedroom/2-bath unit, one 2-bedroom/1-bath unit, and four 1-bedroom/1-bath units. Several tenants have established rental histories, with a combination of long-term occupants and month-to-month tenancy providing flexibility for future management strategies. Conveniently located within close proximity to downtown Eustis and major transportation corridors, the property is well-positioned to benefit from continued growth throughout Lake County. With two vacant units ready for lease-up and several existing rents offering potential for future adjustment, investors have the opportunity to increase income and maximize returns. This property presents an excellent opportunity for investors seeking a value-add multifamily asset with much of the heavy lifting already completed. Rent roll, lease information, and operating expense summary available upon request. Buyer to verify all measurements, zoning, future use, financial projections, and all information deemed important to the buyer. Do not disturb tenants. Showings by appointment only.
Additional Information
- Taxes
- $7283
- Annual Gross Income
- 75000
- Location
- Corner Lot, Sidewalk
- Community Features
- Sidewalks, No Deed Restriction
- Property Description
- Two Story
- Zoning
- SR
- Utilities
- Electricity Available, Natural Gas Available
- Heating
- Natural Gas
- Air Conditioning
- Wall/Window Unit(s)
- Exterior Construction
- Frame
- Roof
- Metal, Shingle
- Foundation
- Crawlspace
- Pool
- No Pool
- Flood Zone Code
- X
- Parcel ID
- 11-19-26-0100-076-00007
- Legal Description
- EUSTIS E 138 FT OF S 179.5 FT BLK 76 PB 1 PG 79 ORB 5187 PG 1441
Listing courtesy of ORISON PROPERTIES INC.. 352-455-7524
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