Building Details

Building Size 3,913 SF

Year Built 1981

Year Renovated 2021

Tenancy Multi

Listing Agency: WIECHENS REALTY INC

Listed By: Joshua Markham · License #SL3510239 Show Phone

Source: Elliman

Added: Aug 25 Changed: Oct 14 Last Checked: Oct 14 at 11:41PM

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Investment Insights

Based on property information with market context.

This four-unit residential income property contains 3,870 square feet and is configured with four fully leased apartments, each offering two bedrooms and one bathroom. The units received remodeled interiors in 2021, including new flooring, cabinets, and updated finishes. That improvement program also included a replacement roof and substantial plumbing and electrical upgrades.

Built in 1981, the property is located at 4151 SE 22ND in Ocala, Florida. Current occupancy consists of four leased units, providing an established rental configuration for an investor evaluating a renovated quadplex. The property has a Walk Score of 8, a Bike Score of 40, and a Transit Score of 0.

Key Highlights

• 3,870 SF quadplex with four residential units
• Four fully leased 2‑bedroom / 1‑bath units
• 2021 improvements included a new roof and remodeled interiors

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$56,242

Cap Rate

8.27%

Suggested Prices Based on Cap Rates

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

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 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 (±1% cap)

NOI $56,242 @ 7.0% cap · market cap 8.27%

Second Best

Multifamily LT 5

$799.0K

$699.2K – $932.2K (±1% cap)

NOI $55,932 @ 7.0% cap · market cap 8.23%

Theoretical Best

Office A

$2.11M

$1.85M – $2.47M (±1% cap)

NOI $147,932 @ 7.0% cap · market cap 21.76%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

Current Use

Quadplexes

Suggested Use

Top Pick Real Estate Agency Law Firm Restaurant Auto Repair Shop Electrical Service Skin Care Clinic

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Lease Details

4

Residential units

100%

Occupancy

Multi-tenant

Tenancy

Location Intelligence

Trade Area within ½ mile

74

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

8.5% 2022

10.2% 2023

11.4% 2024

11.3% 2025

Questions? Ask Rey

Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.

What type of property is this? Where is this quadplexes located? What is the asking price? Find similar properties What are key features of this property?

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Frequently Asked Questions

What type of property is this?

Quadplex - Fully leased four-unit property with remodeled interiors, updated building systems, and a new roof completed in 2021.

Where is this quadplex located?

The property is located at 4151 SE 22ND 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: 3,870 SF quadplex with four residential units; Four fully leased 2‑bedroom / 1‑bath units; 2021 improvements included a new roof and remodeled interiors