Concrete Block
506 NE 28TH AVENUE Ocala, FL 34470
506 NE 28TH AVENUE, Ocala, FL, 34470
$340,000
Pending
For Sale
$340,000
Pending
Concrete block quadplex offering four one-bedroom, one-bath units with wall-unit air conditioning.
Property Size2,100 SF
Lot Size0.25 Acres
Days on Market493
Property Features for 506 NE 28TH AVENUE
General Information
- Standard status
- Pending
- Size
- 2,100 SF
- Lot size
- 0.25 Acres
- Property subtype
- Multi Family
Building Details
- Year Built
- 1979
Listing agency
RE/MAX FOXFIRE - HWY 40
(352) 414-8545
Listed by
Carissa Sawyer · License #3379458
(352) 414-8545
Source
Exitrealty
Added: Mar 17, 2025 Updated: Jul 22 at 1:36AM Checked: Jul 22 at 6:14AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of RE/MAX FOXFIRE - HWY 40
Investment Insights
Based on property information with market context.
This concrete block quadplex includes four one-bedroom, one-bath apartment homes. Each unit is equipped with a refrigerator, oven, and wall-unit air conditioning. The property is topped with a durable metal roof and sits on a spacious quarter-acre lot.
The building is located in Northeast Ocala near downtown, with convenient access to shopping, dining, and local events.
As currently configured, the property provides four separate residential units within a single concrete block structure.
The building is located in Northeast Ocala near downtown, with convenient access to shopping, dining, and local events.
As currently configured, the property provides four separate residential units within a single concrete block structure.
Key Highlights
- 1979‑built concrete block quadplex with 4 one‑bedroom, 1‑bath units
- Each unit is approximately 525 SF for a total of about 2,100 SF
- All units include a refrigerator, oven, and wall‑unit air conditioner
Local Financial Insights For Apartment 5plus
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $59.2k | $28.20 |
| − Vacancy | −$3.7k | −$1.78 |
| EGI | $55.5k | $26.42 |
| − OpEx | −$25.0k | −$11.89 |
| NOI | $30.5k | $14.53 |
2,100 SF · lease $28.20/SF/yr · vacancy 6.30% · expense 45.00%
Alternative Uses
Best Use
Apartment 5plus
$436.0K
$381.5K – $508.7K
NOI $30,519 @ 7.0% cap · market cap 8.98%
Second Best
Multifamily LT 5
$433.6K
$379.4K – $505.9K
NOI $30,351 @ 7.0% cap · market cap 8.93%
Theoretical Best
Office A
$1.15M
$1.00M – $1.34M
NOI $80,273 @ 7.0% cap · market cap 23.61%
Zoning and permitted uses should be independently verified with local authorities.
Property Analytics
Location Intelligence
Current Use by Public Records
Quadplexes
Similar For Sale Nearby
FAQs
What type of property is this?
Quadplex - Concrete block quadplex offering four one-bedroom, one-bath units with wall-unit air conditioning.
Where is this quadplex located?
The property is located at 506 NE 28TH AVENUE Ocala, FL.
What is the asking price?
The asking price for this property is $340,000.
What are key features of this property?
This property features: 1979‑built concrete block quadplex with 4 one‑bedroom, 1‑bath units; Each unit is approximately 525 SF for a total of about 2,100 SF; All units include a refrigerator, oven, and wall‑unit air conditioner
