Four-Unit Quadplex with Separate
For Sale
$564,000
1820 SE 40TH STREET Road, Ocala, FL 34480
Residential Income, OCALA, FL
Property Size3,233 SF
Lot Size0.28 Acres
Price / SF$174.45
Days on Market219
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
Bedroom 1, Bathroom 2, Bedroom 6, Bathroom 3, Bedroom 5, Bathroom 4, Bedroom 2, Bedroom 7, Bedroom 4, Bathroom 1, Bedroom 3, Bedroom 8
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
Amenities
central air
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 20
Last Checked: Aug 27 at 3:06PM
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.
This fee-simple quadplex contains four residences, each configured with two bedrooms and one bathroom. The building provides 3,233 square feet of heated space, with separate meters for the units and central air conditioning. Interior finishes include tile, vinyl, and laminate flooring, while the exterior features wood siding, a shingle roof, and a patio. Constructed in 1982, the property is served by public water and public sewer.
The 0.28-acre parcel is located in SE Ocala’s Citrus Park area near SE Maricamp Rd. It carries R-3 zoning and is identified as being in Flood Zone X. The property has no HOA, offering a straightforward four-unit residential income configuration in a fee-simple ownership structure.
The 0.28-acre parcel is located in SE Ocala’s Citrus Park area near SE Maricamp Rd. It carries R-3 zoning and is identified as being in Flood Zone X. The property has no HOA, offering a straightforward four-unit residential income configuration in a fee-simple ownership structure.
Key Highlights
- Four 2‑bedroom, 1‑bathroom units
- 3,233 heated Sq ft building on a 0.28 acre lot
- Separate meters for each unit
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
Yes
Utilities to site
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 - Four two-bedroom residences offer individually metered service, central air, and a mix of tile, vinyl, and laminate flooring.
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‑bathroom units; 3,233 heated Sq ft building on a 0.28 acre lot; Separate meters for each unit
