1110 And 1114 Bates Ave. Eustis, FL 32726 For Sale

  • $361,000
  • 10 beds
  • 6 baths
  • 3,500 sqft

1110 And 1114 Bates Ave. Eustis, FL 32726

10 Beds | 6 Bath
Square feet: 3,500 sq ft
Year built: 1967

 

Description:

Fully occupied 6 unit Block Apartment Building in Eustis.  The building is well kept and a has great rental value.  The roof was re-tarred 2 years ago.  New wall AC units installed so window units can be removed (some still have window units in).  More interior pictures and videos coming soon. Great price for a great 6 unit apartment building in a growing area of Florida.

All units are rented but rented below market value.  There are two 1bed, 1bath units (one rented for $350/m and the other for $500/m), there are four 2bed/1bath units rented for $600 each.  After checking comparable rents on multifamily units nearby, most 1/1 units are rented for $800+, and most 2/1 units are $900+.  Should be easily able to increase rents to $650/m on the 1/1 units and $750/m on the 2/1 units. After increasing rents, the gross rental income would be $4300/m.  The current gross rent is still a solid $3250/m.

Rent Rolls and Leases available on request.

Some of the tenants fell behind during Covid but they are now signed up for Cares Act, and LCAA for rental assistance.

All units pay their own electric and water bills, All separately metered.

Lease agreement – Current Owner does not have any lease agreements for any of the tenants living in the units. They are paying month to month.

Available on 11.11.2020

Don’t let this excellent opportunity pass you by! Get it yours now!

Make An Offer On This Property

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Price:
$361,000
Address:
1110 And 1114 Bates Ave.
Eustis, Florida 32726
Square Feet:
3,500
Bedrooms:
10
Bathrooms:
6
Terms:
For Sale
Property Type:
Multi-family
Year Built:
1967

Additional Features

DISCLAIMER: florida investor deals does not own these properties nor does florida investor deals hold itself out to represent the owners of these properties. These are not florida investor deals listings. Values are strictly an opinion. Consult an appraiser for true values. florida investor deals disclaims all liability for the actions or inactions taken or not taken as a result of communications from or to its officers, directors, and members. The sale of these Properties may be contingent upon a successful close by the Buyer under Contract with the Current Owner. Seller may not be the owner of record of the applicable court jurisdiction; however, the Seller holds equitable interest in the property along with the owner of record and such interest is documented through an executed Purchase and Sale Agreement

Call (954) 280-5883 for more details

Property Location