Income-Producing Quadplex in
For Sale
$564,000
1820 SE 40TH STREET Road, Ocala, FL 34480
MULTI_FAMILY - OCALA, FL
Property Size3,233 SF
Lot Size0.28 Acres
Price / SF$174.45
Days on Market207
Property Features for 1820 SE 40TH STREET Road
General Information
Property type
Residential Multi Family
Property subtype
Quadruplex
Zoning
R3
Bedrooms
8
Bathrooms
4
Full bathrooms
4
Rooms
Bathroom 3, Bedroom 7, Bedroom 5, Bedroom 8, Bedroom 4, Bedroom 6, Bathroom 2, Bedroom 1, Bathroom 1, Bedroom 3, Bathroom 4, Bedroom 2
Window features
Double Pane Windows
Patio and Porch features
Patio
Subdivision
CITRUS PARK
Directions
Head S on SE 36th Avenue. Turn left onto SE 38th Street, then continue as it curves into SE 40th Street Road. The property will be on the left.
Standard status
Active
APN
3120-001-010
Size
3,233 SF
Lot size
0.28 Acres
Taxes and HOA fees
Tax Year
2025
Tax Description
SEC 33 TWP 15 RGE 22 PLAT BOOK S PAGE 014 CITRUS PARK BLK A LOT 10
Tax Annual Amount
7677
Legal Description
SEC 33 TWP 15 RGE 22 PLAT BOOK S PAGE 014 CITRUS PARK BLK A LOT 10
Utilities
Sewer type
Public Sewer
Heating system
Electric (Heating), Natural Gas
Cooling system
Central Air
Water source
Public
Building Details
Year built
1982
Floors in Building
1
Number of units
1
Building materials
Wood Siding
Roof type
Shingle
Listing Agency:
LOKATION
(954) 545-5583
Listed By:
Freddy Pinero · License #3272081
(407) 988-7550
Added: Jan 20
Changed: Aug 13
Last Checked: Aug 15 at 3:06AM
MLS# OM717087
Copyright © 2026 Stellar MLS. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
Investment Insights
Based on property information with market context.
Income-producing quadplex on a fee simple lot in SE Ocala’s Citrus Park area. The property includes four 2-bedroom, 1-bath units with separate meters, totaling 3,233 heated square feet. Built in 1982, the building features tile, vinyl, and laminate flooring throughout and includes central air cooling. Heating is provided by electric and natural gas systems, and the roof is shingle.
The property sits on a 0.28-acre lot in Flood Zone X. Utilities include public water and public sewer. The property is wood-sided and zoned R-3, and there is no HOA or special sale conditions noted.
With four separate, metered units, the quadplex is designed for income use and offers a straightforward turnkey setup with room for continued management and improvements.
The property sits on a 0.28-acre lot in Flood Zone X. Utilities include public water and public sewer. The property is wood-sided and zoned R-3, and there is no HOA or special sale conditions noted.
With four separate, metered units, the quadplex is designed for income use and offers a straightforward turnkey setup with room for continued management and improvements.
Key Highlights
- Four 2‑bedroom, 1‑bath units with separate meters
- 3,233 heated SF quadplex built in 1982
- Central air plus electric and natural gas heating
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$46,985
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.33%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,700
$939.7K
Cap Rate 7%
$671,214
$671.2K
Cap Rate 9%
$522,056
$522.1K
Market Conditions
NOI Build-Up for 3,233 SF
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.
Gross rent
$91.2K $28.20/SF
− Vacancy
−$5.7K −$1.78/SF
EGI
$85.4K $26.42/SF
− OpEx
−$38.4K −$11.89/SF
NOI
$47.0K $14.53/SF
Area
Marion County, FL
Vacancy
6.30%
Lease Rate
$28.20 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$939,700
Cap Rate 7%
$671,214
Cap Rate 9%
$522,056
Alternative Uses
Best Use
Apartment 5plus
$671.2K
$587.3K – $783.1K
NOI $46,985 @ 7.0% cap · market cap 8.33%
Second Best
Multifamily LT 5
$667.5K
$584.1K – $778.8K
NOI $46,726 @ 7.0% cap · market cap 8.28%
Theoretical Best
Office A
$1.77M
$1.54M – $2.06M
NOI $123,582 @ 7.0% cap · market cap 21.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
4
Residential units
Location Intelligence
Trade Area within ½ mile
235
Businesses Nearby
Explore this area
Business Placement
Demographics for 34480, FL
21,709
Population
9,864
Households
2.2
Avg Household Size
40
Median Age
28%
College-Educated
93%
High-School Grad
35.2 sq mi
ZIP Area
617
Density / Sq Mi
$75,334
Median Household Income
$40,953
Median Earnings
$1,238
Median Rent
$248,400
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Quadplex - Income-producing quadplex with four 2-bedroom, 1-bath units, central air, separate meters, and R-3 zoning.
Where is this quadplex located?
The property is located at 1820 SE 40TH STREET Road Ocala, FL.
What is the asking price?
The asking price for this property is $564,000.
What are key features of this property?
This property features: Four 2‑bedroom, 1‑bath units with separate meters; 3,233 heated SF quadplex built in 1982; Central air plus electric and natural gas heating
