$629,000
527 Lemon Avenue
Eustis, FL 32726
Listing updated: June 24, 2026 at 11:05 AM ET
Property type
Year built
Lot size
Price / sq ft
HOA dues
Days on market
Flood zone
About this home
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.
Local Insight
At $107/sqft for a 5,415-sqft multi-family building from 1919, you're looking at significant upside potential if this property is structurally sound — that's well below Lake County's current per-sqft average and positioned in a genuinely affordable lakefront community with real boating and residential appeal rather than tourist inflation. The main risk here is the age and condition of a century-old structure, so inspection costs and deferred maintenance could quickly erode what looks like a bargain, but if you're handy or connected to contractors, the bones of Eustis's historic core are increasingly attractive to investors priced out of Mount Dora. The no-HOA setup and X flood zone are genuine wins for this location.
AI-generated insight based on listing data and neighborhood context. Verify independently.
Estimated monthly payment
Estimate only. Taxes use the listing's reported amount where available; insurance is a Florida-average estimate. Your actual payment will vary — run a full calculation or talk to a lender.
Price & listing history4 days on market
- Status: ActiveJun 21, 2026
- Listed$629,000Jun 20, 2026
- Price increased$629,000
Facts & features
- Property type
- Commercial Sale
- Sub type
- Multi-Family 5+
- Status
- Active
- Days on market
- 4
- Subdivision
- Eustis
- County
- Lake
- Year built
- 1919
- Living area
- 5,415 sq ft
- Price/sq ft
- $107
- Building area
- 5,855 sq ft (Public Records)
- Lot size
- 24,804 sq ft
- Lot category
- 1/2 to less than 1
- Flood zone
- X (12069C0356E)
- Annual taxes
- $7,283 (2025)
- Parcel #
- 11-19-26-0100-076-00007
- Zoning
- SR
- MLS #
- G5113226
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Interior Details
- Stories / Levels
- Two
Heating & Cooling
- Heating
- Natural Gas
- Cooling
- Wall/Window Unit(s)
HOA & Financial
- Total monthly fees
- $0/mo
- Total annual fees
- $0
- Listing terms
- Cash
- Ownership
- Fee Simple
Exterior & Construction
- Construction materials
- Frame
- Roof
- Metal, Shingle
- Foundation
- Crawlspace
- Road surface
- Asphalt
Utilities
- Sewer
- Public Sewer
- Water source
- Public
- Utilities
- Electricity Available, Natural Gas Available
Listing Details
- Listing date
- 2026-06-19
- On market date
- 2026-06-20
- Original list price
- $629,000
- Occupant type
- Tenant
- MLS area
- 32726 - Eustis
- Listing AOR
- Lake and Sumter
- Status changed
- 2026-06-21
- Tax legal description
- EUSTIS E 138 FT OF S 179.5 FT BLK 76 PB 1 PG 79 ORB 5187 PG 1441
Flood risk
Minimal-risk area outside the mapped floodplain. Flood insurance is optional and typically low-cost.
Source: FEMA flood zone reported on the listing. Confirm current designation at FEMA Flood Map Service Center.
Location
Directions
US-441 S, Take the FL-19 N ramp, Turn right onto E Key Ave, Turn left onto S Mary St, Destination will be on the left
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Listings courtesy of Stellar MLS as distributed by MLS GRID
IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Based on information submitted to the MLS GRID as of June 24, 2026 at 11:05 AM ET. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.
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