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128 E Magnolia Avenue, 
Eustis, FL 32726

$2,250,000


7

Beds


6

Baths


15,820

Sq Ft


Multi-Family


Virtual Tour

Active

Listed by

Scott Strem

Morris Realty And Investments

Last updated:

June 16, 2025, 04:00 PM

MLS#

G5096494

Source:

MFRMLS

About This Home

128 E Magnolia Avenue

GREAT OPPORTUNITY!! MOTIVATED OWNERS! Discover an exceptional investment or owner-user opportunity in the heart of historic Downtown Eustis. This beautifully maintained building exudes classic architectural charm while offering a range of modern upgrades, making it both visually appealing and functionally ready. Improvements include a new roof within the past five years, several new A/C units, updated windows, electrical upgrades, and updated plumbing. The spacious ground floor features nearly 8,000 square feet of open-concept showroom or retail space, complete with a private office and storage area, two ADA-compliant restrooms, and even a basement storage area. A second storefront entrance on the main level provides flexibility—perfect for use alongside the primary space or as a separate rental for additional income. Upstairs, you'll find approximately 3,000 square feet of fully renovated office space, including multiple offices, restrooms, and a breakroom, ideal for leasing or expanding business operations. Adding to the value, the building includes six income-producing, separately metered residential apartments— 5 one-bedroom/one-bath units and 1 two-bedroom/one-bath unit. Tenants enjoy the convenience of a shared laundry facility, while the property benefits from modern amenities such as a wired security system with surveillance cameras, keyless hall entry, and remote-controlled HVAC thermostats. Parking is a breeze with ample street parking out front and a city-maintained lot directly beside the building. Located in a vibrant downtown district undergoing ongoing revitalization, this property is surrounded by flourishing retail, dining, and office establishments. With its brick-lined streets, nearby parks, and stunning views of Lake Eustis and Ferran Park, downtown Eustis—fondly known as "America’s Hometown"—offers both charm and investment potential in one outstanding package.

Home Facts

Multi-Family

6 Baths

7 Bedrooms

Built in 1927

Price Summary

2,250,000

$142 per Sq. Ft.

MLS #:

G5096494

Last Updated:

June 16, 2025, 04:00 PM

Added:

1 month(s) ago


Rooms & Interior

Bedrooms

Total Bedrooms:

7

Bathrooms

Total Bathrooms:

6

Interior

Living Area:

15,820 Sq. Ft.


Structure

Structure

Building Area:

15,820 Sq. Ft.

Year Built:

1927


Lot

Lot Size (Sq. Ft):

8,308


Finances & Disclosures

Finances

Price:

$2,250,000

Price per Sq. Ft:

$142 per Sq. Ft.

MLS Logo
The information being provided by My Florida Regional MLS DBA Stellar MLS. is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumer may be interested in purchasing. Any information relating to real estate for sale referenced on this web site comes from the Internet Data Exchange (IDX) program of the My Florida Regional MLS DBA Stellar MLS.. Morris Realty And Investments is not a Multiple Listing Service (MLS), nor does it offer MLS access. This website is a service of Morris Realty And Investments, a broker participant of My Florida Regional MLS DBA Stellar MLS.. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. The accuracy of all information, regardless of source, including but not limited to open house information, square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by My Florida Regional MLS DBA Stellar MLS. and is protected by all applicable copyright laws. Any unauthorized dissemination of this information is in violation of copyright laws and is strictly prohibited. Properties in listings may have been sold or may no longer be available. Copyright 2025 My Florida Regional MLS DBA Stellar MLS.. All rights reserved.

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