Turnkey Income-Producing Quadplex
For Sale
$679,900
4111 SE 22ND Ave, Ocala, FL 34480
Well-maintained quadplex with fully leased units and recent upgrades.
Property Size3,870 SF
Price / SF$175.68
Days on Market99
Property Features for 4111 SE 22ND Ave
General Information
Standard status
Active
Size
3,870 SF
Property subtype
Investment
Taxes and HOA fees
Annual Taxes
$6,764
Building Details
Building Size
3,870 SF
Year Built
1981
Listing Agency:
WIECHENS REALTY INC
(352) 300-6913
Listed By:
Joshua Markham · License #SL3510239
(352) 300-6913
Source:
Elliman
Added: May 21
Changed: Aug 23
Last Checked: Aug 25 at 11:26AM
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 WIECHENS REALTY INC
Investment Insights
Based on property information with market context.
This turnkey income-producing quadplex presents an opportunity for immediate cash flow and long-term investment stability. The well-maintained 3,870 square foot multifamily property features four fully leased units, each with 2 bedrooms and 1 bathroom. Each unit generates $1,400 per month in rental income. Between 2021 and 2024, the property underwent extensive improvements, including a new roof and fully remodeled interiors with updated flooring, cabinets, and modern finishes, along with substantial upgrades to the plumbing and electrical systems. This property is a low-maintenance investment opportunity with income potential and long-term upside. It is ideal for investors seeking a turnkey multifamily asset with immediate returns.
Key Highlights
- Turnkey quadplex providing immediate cash flow.
- Fully leased units generating $1,400/month per unit.
- Extensive renovations completed between 2021‑2024 including new roof, remodeled interiors, and updated systems.
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
$56,242
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
8.27%
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%
$1,124,840
$1.1M
Cap Rate 7%
$803,457
$803.5K
Cap Rate 9%
$624,911
$624.9K
Market Conditions
NOI Build-Up for 3,870 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
$109.1K $28.20/SF
− Vacancy
−$6.9K −$1.78/SF
EGI
$102.3K $26.42/SF
− OpEx
−$46.0K −$11.89/SF
NOI
$56.2K $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%
$1,124,840
Cap Rate 7%
$803,457
Cap Rate 9%
$624,911
Alternative Uses
Best Use
Apartment 5plus
$803.5K
$703.0K – $937.4K
NOI $56,242 @ 7.0% cap · market cap 8.27%
Second Best
Multifamily LT 5
$799.0K
$699.2K – $932.2K
NOI $55,932 @ 7.0% cap · market cap 8.23%
Theoretical Best
Office A
$2.11M
$1.85M – $2.47M
NOI $147,932 @ 7.0% cap · market cap 21.76%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
120
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 - Well-maintained quadplex with fully leased units and recent upgrades.
Where is this quadplex located?
The property is located at 4111 SE 22ND Ave Ocala, FL.
What is the asking price?
The asking price for this property is $679,900.
What are key features of this property?
This property features: Turnkey quadplex providing immediate cash flow.; Fully leased units generating $1,400/month per unit.; Extensive renovations completed between 2021‑2024 including new roof, remodeled interiors, and updated systems.
