8-UnitRentalDevelopment
Ocala, Florida
Acquire an entitled 8-unit Ocala R3 project for $230K, then build.
What we're building
We present a compelling investment opportunity in Ocala's thriving real estate market: an 8-unit rental community development strategically located near the historic downtown and major employment centers. The investor steps into a fully entitled, plan-stamped project for a $230,000 acquisition fee — paid-off land, committed engineering, and stamped plans included — and then funds construction through to stabilization.
The development is positioned in one of Florida's fastest-growing metropolitan areas, with a projected population growth of 56.8% by 2060 and a low 3.2% unemployment rate. This location, combined with consistently low vacancy rates and strong rental demand, provides robust fundamentals for sustainable returns.
The details, end to end.
- Project Type
- 8-Unit Residential Rental Complex
- Land Size
- 0.68 acres
- Project Planning
- Innova Land and Development Planning
- Zoning
- R3-Multifamily Use
- Project Acquisition Fee
- $230,000
- Estimated Infrastructure Cost
- $310,000
- Estimated Construction Cost
- $1,911,719.04
- Lease-up Reserves
- $174,920.96
- Total Project Value
- $2,626,640
- Construction Capital Required
- $2,396,640
- Total Investor Outlay
- $2,626,640
- Monthly Rent Per Unit
- $2,400
- Annual Gross Income (95% occupancy)
- $218,880
- Market Cap Rate
- 6.5–7%
- Stabilized Value Range
- $3.13M–$3.37M
- Projected ROI at Exit
- 19%–28%
- Development Timeline
- 12–18 months
- Collateral
- Land ($160,000)
How the parcel breaks down.
See it.
Why this market.
- 0156.8% population growth projected by 2060
- 023.2% unemployment rate (below state/national average)
- 03Strong rental demand with low vacancy rates
- 04Premium location near major employers
- 05Proximity to historic downtown
- 06Robust real estate appreciation trends
- 07Marion County approved 6,422+ new homes/apartments in 2024
What investors are funding.
- Modern 2–3 bedroom units
- Secure parking facilities
- Professional landscaping
- Energy-efficient appliances and systems
- Granite countertops in kitchen and bathrooms
- Luxury vinyl plank flooring
- Shaker-style cabinetry
- Smart home technology
Built for the next thirty years.
- Energy-efficient building design
- Energy-efficient lighting and appliances
- High-performance windows and insulation
- Energy-efficient HVAC and water heating
- Water-efficient fixtures and appliances
- Solar-ready infrastructure
Read what we read.
- Site Location MapMap showing the project location and surrounding areaView document
- Land Use DocumentationCurrent land use and zoning informationView document
- Ocala, Florida metro is No. 1 on this U.S. Census Bureau listCensus Bureau report on Ocala metro growthView document
- How fast is Ocala Florida growing?Geographic FAQ Hub report on Ocala's growthView document
- Over 6,422 new homes and apartments approved or built in Marion County in 2024Ocala-News.com report on new homes and apartments in 2024View document
- Growth & Development ReportAnalysis of Ocala/Marion County growth trendsView document
- Regional Growth StrategyStrategic planning document for regional developmentView document
The math.
Land Investment Structure
- Total Land Parcel: 0.68 acres
- Land Value: $160,000
- Land Acquisition: Complete · No liens
- Zoning: R3-Multifamily
Project Cost Structure
- Project Acquisition Fee: $230,000 (conveys land, engineering, stamped plans)
- Land Value (Paid): $160,000 · Engineering (Committed): $21,700
- Estimated Infrastructure Cost: $310,000
- Estimated Construction Cost: $1,911,719.04 (8 units · $238,964.88/unit)
- Lease-up Reserves: $174,920.96
- Total Project Value: $2,626,640
Project Totals (8 units)
- Project Acquisition Fee: $230,000 (paid at close)
- Construction Capital Required: $2,396,640
- Total Investor Outlay: $2,626,640
- Total Project Value: $2,626,640
- Annual Gross Income (95% occupancy): $218,880
- Stabilized Value Range: $3.13M–$3.37M (6.5–7% cap)
- Projected ROI at exit: 19%–28% (cap-rate sensitivity on $2,626,640 outlay)
- Development Timeline: 12–18 months
Funding Structure
- Investor pays $230,000 at close to acquire the entitled project
- Investor funds construction capital of $2,396,640 through to stabilization
- Total investor outlay: $2,626,640
- Exit options: Long-term hold, stabilized refinance, or stabilized sale
- Market cap rate: 6.5–7% on $218,880 stabilized rent · Value: $3.13M–$3.37M
How it builds.
- Capital
- $2,626,640
Twelve to eighteen months from acquisition through lease-up. The investor pays $230,000 at close to step into the project — paid-off land, committed engineering, and a stamped 8-unit R3 plan set. The investor then funds permitting, infrastructure, vertical construction, and lease-up reserves through to stabilization.
- 01 · Project acquisitionMonth 0 · at close
- 02 · Permitting & site prepMonths 1–3
- 03 · ConstructionMonths 3–13
- 04 · Lease-up & stabilizationMonths 13–18
- 01Month 0 · at close
Project acquisition
Investor pays $230,000 to acquire the entitled project. Conveyance includes paid-off land ($160,000 · 0.68 acres · R3-Multifamily), committed engineering ($21,700), and a stamped plan set ready for permit submittal.
Acquisition fee paid in full at close.
Deliverables- Land deed transferred · no liens
- Stamped architectural & engineering plan set
- Permit submittal package ready
- R3 zoning confirmed
- 02Months 1–3
Permitting & site prep
Marion County reviews the construction plan set; permits issued and impact fees paid. Site prep, infrastructure, utility connections, stormwater.
Investor capital deploys against permits, impact fees, and infrastructure.
Deliverables- Approved building permits
- Impact fees paid
- Site prepared for vertical
- 03Months 3–13
Construction
Foundation, framing, MEP, finishes across all 8 units. Smart-home wiring and energy-efficient envelope per spec.
Bulk of investor capital deploys monthly against the GC schedule.
Deliverables- Monthly construction reports with photos
- Certificates of occupancy on all 8 units
- Punch lists complete
- 04Months 13–18
Lease-up & stabilization
Marketing, model unit tours, tenant screening, signed leases. Stabilization at 95% occupancy. Operating reserves carry the project through to stabilized cash flow.
Operating reserve funds marketing, lease-up, and any pre-stabilization debt service.
Deliverables- 8 signed leases · 95% occupancy stabilized
- Annual rent roll: $218,880
- Refinance / hold / stabilized sale decision
One round trip for one investor. Capital goes in across the seventeen-month build, returns at the unit closings, and the profit distribution lands at the final closing.
- 01 · Capital deployed$2,626,640Months 1–15 · per phase allocations aboveSingle-investor structure. $230,000 paid at close to acquire the entitled project (paid-off land, committed engineering, stamped plans), then $2,396,640 deployed across infrastructure ($310,000), vertical construction ($1,911,719.04), and lease-up reserves ($174,920.96) through to stabilization.
- 02 · Returned to investor$2,845,520= $2,626,640 + $218,880Months 14–15 · final at month 15
- Capital return$2,626,640Returned via stabilized refinance proceeds, or via sale at market cap rate (6.5–7% on $218,880 stabilized rent implies a stabilized value range of $3.13M–$3.37M).
- Annual rental income$218,8808 units × $2,400/month × 12 months × 95% occupancy. Distributed per the operating agreement after debt service and operating expenses.
Built to last.
Every Innova home ships with a defined materials package — stone, flooring, cabinets, hardware, finishes. Specified once, documented once, applied to every unit on the site.
Counter Tops01Granite and quartz, polished and supplied as super-jumbo slabs.
Flooring02Luxury vinyl plank standard, polished marble porcelain on request.
Cabinets03Wood shaker, kitchen and bath, two colors only.
Shower Tile16Large-format polished marble-look porcelain, two veining options.
Single Hung Windows10Single-hung vinyl, four exterior colors, white interior.
Front Doors08Six-panel raised, four colors.
The full Innova Materials Catalog — sixteen chapters, every finish on every build, with the exact options available to investors and end-buyers.
See the materials catalog