Eight-Unit Apartment Building
For Sale
Contact for pricing
6807-6809 West Doris Maretta Lane, Homosassa, FL 34446
Four concrete-block duplexes offer updated residences, private outdoor areas, dedicated parking, and individual laundry hookups.
Property Size7,680 SF
Price / SF$143.23
Days on Market18
Property Features for 6807-6809 West Doris Maretta Lane
General Information
Standard status
Active
Size
7,680 SF
Class
B
Property subtype
Multifamily
Occupancy
100%
Investment Type
Stabilized
Net Operating Income
$71,693
Units
Unit Mix
8 x 2BR/1BA
Multifamily Units
8
Parking per Unit
3
Additional Details
Utilities to Site
Yes
Amenities
private fenced backyard
concrete patio
exterior storage closet
in-unit laundry closets
cathedral ceilings
walk-in closets
tile flooring
luxury vinyl plank flooring
Building Details
Year Built
1990
Buildings
4
Stories
1
Units
8
Tenancy
Multi
Construction
concrete-block
Listing Agency:
The Apartment King
Listed By:
Christopher Minchin · License #BK3282270
Source:
Crexi
Added: Aug 13
Changed: Aug 28
Last Checked: Aug 29 at 3:39AM
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 The Apartment King
Investment Insights
Based on property information with market context.
This apartment property comprises four concrete-block duplexes built in 1990, totaling eight two-bedroom, one-bath residences. Each unit provides approximately 960 square feet of living area, with cathedral ceilings in the living room and kitchen, 8-foot ceilings elsewhere, tile and luxury vinyl plank flooring, walk-in primary-bedroom closets, and laundry closets with washer/dryer hookups. Interiors were painted within the past two years. Private fenced backyards include concrete patios and exterior storage closets, while each residence has three dedicated paved parking spaces.
Roof replacements were completed in 2020 and 2023 using dimensional shingles with peel-and-stick underlayment. The property operates on a shared well system, and each duplex has a separate septic system and drain field serving its two residences. Selected units feature renovated kitchens with granite countertops, remodeled bathrooms, screened lanais, and additional storage sheds, creating varied finish levels across the portfolio.
Roof replacements were completed in 2020 and 2023 using dimensional shingles with peel-and-stick underlayment. The property operates on a shared well system, and each duplex has a separate septic system and drain field serving its two residences. Selected units feature renovated kitchens with granite countertops, remodeled bathrooms, screened lanais, and additional storage sheds, creating varied finish levels across the portfolio.
Key Highlights
- Eight 2‑bedroom, 1‑bath residences across four concrete‑block duplexes
- Approximately 7,680 square feet of total property size
- Approximately 960 square feet of living area per 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
$64,323
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
5.85%
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%
$1,286,460
$1.3M
Cap Rate 7%
$918,900
$918.9K
Cap Rate 9%
$714,700
$714.7K
Market Conditions
NOI Build-Up for 7,680 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
$124.4K $16.20/SF
− Vacancy
−$7.5K −$0.97/SF
EGI
$117.0K $15.23/SF
− OpEx
−$52.6K −$6.85/SF
NOI
$64.3K $8.38/SF
Area
Citrus County, FL
Vacancy
6.00%
Lease Rate
$16.20 /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%
$1,286,460
Cap Rate 7%
$918,900
Cap Rate 9%
$714,700
Alternative Uses
Best Use
Apartment 5plus
$918.9K
$804.0K – $1.07M
NOI $64,323 @ 7.0% cap · market cap 5.85%
Second Best
—
—
no second resolved use
Theoretical Best
Specialty Retail
$1.73M
$1.51M – $2.01M
NOI $120,798 @ 7.0% cap · market cap 10.98%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Lease Details
8
Residential units
Yes
Utilities to site
Location Intelligence
Trade Area within ½ mile
96
Businesses Nearby
Explore this area
Business Placement
Demographics for 34446, FL
18,431
Population
9,588
Households
1.9
Avg Household Size
62
Median Age
18%
College-Educated
89%
High-School Grad
29.8 sq mi
ZIP Area
618
Density / Sq Mi
$60,625
Median Household Income
$41,423
Median Earnings
$938
Median Rent
$231,700
Median Home Value
Market
Vacancy Rate% for Multifamily in South region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Apartment building - Four concrete-block duplexes offer updated residences, private outdoor areas, dedicated parking, and individual laundry hookups.
Where is this apartment building located?
The property is located at 6807-6809 West Doris Maretta Lane Homosassa, FL.
What is the asking price?
The asking price for this property is $1,100,000.
What are key features of this property?
This property features: Eight 2‑bedroom, 1‑bath residences across four concrete‑block duplexes; Approximately 7,680 square feet of total property size; Approximately 960 square feet of living area per unit
