527 E Lemon Ave - Apartments FOR SALE


Eustis, FL 32726
$629,000 USD
352-729-3811
527 E Lemon Ave, Eustis, FL for Sale
$629,000 USD
Apartments - FOR SALE
1/39
null | 6.61% Cap Rate

527 E Lemon Ave
Eustis, FL 32726


HIGHLIGHTS

  • Opportunity to increase rental income
  • Potential utility reimbursement opportunity
  • Located in Eustis' Historic District near downtown shopping and dining

OVERVIEW

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.

FOR SALE DETAILS

PRICE

$629,000 USD

PRICE/SF

$118 USD /SF

# OF UNITS

6

PRICE/UNIT

$104,833

CAP RATE

6.61%

% LEASED

67%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1919

PARKING SPACES

6

LAND DETAILS

LAND ACRES

0.57 AC

LAND SF

24,829 SF

ZONING

SR

APN/PARCEL ID

11-19-26-0100-076-00007

ASK ABOUT THIS PROPERTY

Stephanie FrederickOrison Properties IncMore Info
352-729-3811

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Stephanie FrederickOrison Properties IncMore Info
352-729-3811

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.