527 E Lemon Avenue

Pending

CALLING ALL INVESTORS! FANTASTIC INVESTMENT OPPORTUNITY! Boasting SIX units total, this wonderful multi-family property is situated on a large corner lot near historic downtown Eustis. Four of the six units are currently occupied by tenants with strong rental histories. Five units were remodeled within the last two years and the house boasts a new roof that is only ONE YEAR old! Each unit has a wonderful living room and kitchen, plenty of space to relax! This property is comprised of one 3 bedroom/1 bath, one two bedroom/1 bath and four 1 bedroom/1 bath units. The current owners have started to switch tenants over to an online billing system for utilities, so now three of the five current tenants pay their own utility costs. This provides the next owner with the opportunity to further reduce costs by converting the additional tenants to this platform to pay their own utilities. Easy access to downtown Eustis, Mount Dora and SR 453 provides a direct route to Orlando! Please take a look at the attachments for all the pertinent details concerning updating, rent roll and income. In 2021, this property had a gross rental income of $57,698 and NOI of $37,402 is being offered at a 9.4% cap rate. Here’s a chance to own a investment property that can generate income for you for years to come!

Price:$$399,900
Address:527 E Lemon Avenue
City:Eustis
County:Lake
State:Florida
Zip Code:32726
Subdivision:Eustis
MLS:O6008618
Year Built:1919
Square Feet:5,415
Acres:0.570
Lot Square Feet:0.570 acres
Please sign up for a Listing Manager account below to inquire about this listing