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Palmetto Flats 1110 Bates Ave 6 Unit Apartment Building $966,839 CAD ($161,140 CAD/Unit) Eustis, FL 32726

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Investment Highlights

Completely Renovated in 2022 at a cost of $248,000
Concrete Block Construction

Tenants Pay All Utilities, Reducing Owner Operating Expenses

Executive Summary

100Units.com presents Palmetto Flats, a 6-unit multifamily property located in the rapidly growing city of Eustis, Florida. The property consists of a concrete block, two-story building of 3,388 gross square feet with durable concrete roof. The unit mix includes two one-bedroom one-bath units and four two-bedroom one-bath units, offering an efficient blend of layouts attractive to a wide renter base. Tenants pay all utilities which are separately metered for electricity, water, sewer, and trash. In 2022, the building underwent a complete $248,000 renovation, during which the property was fully vacated and taken down to the concrete block. All work was permitted and overseen by a licensed General Contractor. Renovations include; roof, windows, doors, all floors, drywall, railings, gutters, all kitchens and all baths, new mini-split HVAC systems, all electrical and all potable/supply plumbing replacement. Situated near the heart of Eustis, the property benefits from strong population expansion—up 8.1% since 2020—and long-term growth averaging 2.4% annually over the past two decades, supported by a strengthening local job market and rising demand for well-located rental housing. With proximity to the Golden Triangle communities, a revitalized downtown, and abundant recreational amenities, 1110 Bates Ave offers investors a durable, low-maintenance asset positioned for stable cash flow and future value appreciation.

Property Facts

Price	$966,839 CAD	Building Class	C
Price Per Unit	$161,140 CAD	Lot Size	0.25 AC
Sale Type	Investment	Building Size	3,388 SF
No. Units	6	No. Stories	2
Property Type	Multifamily	Year Built	1967
Property Subtype	Apartment	Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Apartment Style	Low-Rise
Zoning	SR

Price	$966,839 CAD
Price Per Unit	$161,140 CAD
Sale Type	Investment
No. Units	6
Property Type	Multifamily
Property Subtype	Apartment
Apartment Style	Low-Rise
Building Class	C
Lot Size	0.25 AC
Building Size	3,388 SF
No. Stories	2
Year Built	1967
Opportunity Zone	Yes State officials designate a portion of qualified Census Tracts to be Opportunity Zones. Certain investments in Opportunity Zones may be eligible for preferential tax treatment.
Zoning	SR