Fully Rented 6-Unit Complex in Eustis Bates Ave. Eustis, FL. 32726
Property Detail
Property Description
This is a fully occupied 6 unit block apartment building in Eustis. The building is well kept and a has great rental value, but will need some work done. The roof was re-tarred 2 years ago. This is a 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.
