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Cedarwood Apartments 1529 NE 39th Ave 94 Unit Apartment Building $9,400,000 ($100,000/Unit) 7.81% Cap Rate Ocala, FL 34470
Investment Highlights
- Explosive Population Growth: Ocala has again ranked as the fastest growing metro in the nation by percentage for 2025 (US Census Bureau)
- Rising incomes support rent growth: Area median income increased 32.6% from 2021–2024 (HUD), outpacing typical wage growth nationally
- NOI Growth: Clear pathway to a 36.7% increase in NOI by year two through bringing occupancy to market while implementing moderate rent bumps
- Redevelopment Potential: Situated on over 6 acres, providing great redevelopment opportunities in the future
Executive Summary
94 unit, Garden Style multifamily property located in Ocala, FL. Rental Properties in High Demand: Ocala’s population has increased 27% in the last 10 years (US Census Bureau), creating significant demand for workforce housing rentals. Renovation upside is proven, not speculative: Recently renovated units at Cedarwood already command premiums of $186/unit (studios), $174/unit (one-bedrooms), and $140/unit (two-bedrooms) over unrenovated units. Well Located: Cedarwood is located just feet from Ocala’s main thoroughfare, East Silver Springs Boulevard giving tenants convenient access to local schools, employment and entertainment. Diverse, recession-resistant employer base: Anchored by Marion County Public Schools (6,100+), HCA Florida Ocala Hospital (2,700+), AdventHealth Ocala (2,600+), and the State of Florida (2,600+), alongside major private employers like Walmart, Lockheed Martin, and FedEx Ground. Affordability: Ocala was ranked as recently as 2023 as the #1 most affordable metro in Florida, nearly 12% below the national average making it an attractive option to move to.
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Title and Insurance
Financial Summary (Pro Forma - 2026) Click Here to Access |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
-
|
-
|
| Operating Expenses |
-
|
-
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
Financial Summary (Pro Forma - 2026) Click Here to Access
| Gross Rental Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Other Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Vacancy Loss | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Effective Gross Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Taxes | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Operating Expenses | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Total Expenses | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
| Net Operating Income | |
|---|---|
| Annual | $99,999 |
| Annual Per SF | $9.99 |
Property Facts
| Price | $9,400,000 | Building Class | C |
| Price Per Unit | $100,000 | Lot Size | 6.02 AC |
| Sale Type | Investment | Building Size | 53,568 SF |
| Cap Rate | 7.81% | Average Occupancy | 86% |
| No. Units | 94 | No. Stories | 1 |
| Property Type | Multifamily | Year Built | 1978 |
| Property Subtype | Apartment | Parking Ratio | 1.12/1,000 SF |
| Apartment Style | Garden | ||
| Zoning | R3 - Residential | ||
| Price | $9,400,000 |
| Price Per Unit | $100,000 |
| Sale Type | Investment |
| Cap Rate | 7.81% |
| No. Units | 94 |
| Property Type | Multifamily |
| Property Subtype | Apartment |
| Apartment Style | Garden |
| Building Class | C |
| Lot Size | 6.02 AC |
| Building Size | 53,568 SF |
| Average Occupancy | 86% |
| No. Stories | 1 |
| Year Built | 1978 |
| Parking Ratio | 1.12/1,000 SF |
| Zoning | R3 - Residential |
Amenities
Unit Amenities
- Air Conditioning
- Balcony
- Dishwasher
- Storage Space
- Washer/Dryer
- Washer/Dryer Hookup
- Heating
- Ceiling Fans
- Eat-in Kitchen
- Vaulted Ceiling
- High Speed Internet Access
- Built-In Bookshelves
- Linen Closet
Site Amenities
- 24 Hour Access
- Controlled Access
- Laundry Facilities
- Property Manager on Site
- Tenant Controlled HVAC
- Furnished Units Available
- Pet Play Area
- Smoke Free
- Smoke Detector
Unit Mix Information
| Description | No. Units | Avg. Rent/Mo | SF |
|---|---|---|---|
| Studios | 24 | - | 288 |
| 1+1 | 48 | - | 576 |
| 2+1 | 22 | - | 864 |
1 1
Fairly walkable
40/100
Exceptionally drivable
100/100
Limited public transit
30/100
Fairly bikeable
40/100
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 (2025) | |
| Land Assessment | $0 (2025) | Total Assessment | $4,942,490 (2025) |
Property Taxes
Parcel Numbers
Land Assessment
$0 (2025)
Improvements Assessment
$0 (2025)
Total Assessment
$4,942,490 (2025)
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