4513 W MCELROY AVE, TAMPA, FL, 33611
$850,000
Residential
Bedrooms
1
Bathrooms
1
Living Area
2,124 Sqft
Lot Size
9,000 Sqft
Turnkey 4-Unit Investment | STR Approved | Great Opportunity Exceptional income-producing 4-unit multifamily property located in a highly desirable rental corridor, offering immediate cash flow and strong upside potential. Built in 1966 with solid concrete block construction, this property features 2,124 SF of heated space on a 9,000 SF lot (RM-16 zoning)—ideal for continued short-term rental use or long-term hold strategy. Each unit is efficiently laid out as 1 bed / 1 bath, making it highly attractive for both short-term rental (Airbnb/VRBO) and traditional tenants. The property is already positioned for STR income generation, making it a true turnkey investment. ?? Investment Highlights:     •    Asking Price: $850,000     •    Projected Cap Rate: 8.7     •    Net Operating Income (NOI): ~$73,950/year     •    Estimated Gross Income: ~$105,000+/year (STR optimized)     •    Low-maintenance concrete block construction     •    Individually rentable units = diversified income stream ?? Property Features:     •    Concrete block exterior + stucco finish     •    Gable/hip roof with asphalt shingles     •    Wood flooring & drywall interiors     •    4 total units (multifamily layout)     •    On-site additional storage (shed)     •    Functional layout ideal for maximizing nightly rates ?? Location & Upside: Situated in a high-demand rental area with strong tourism and local workforce demand, this property offers:     •    Immediate STR income potential     •    Value-add through interior upgrades or branding     •    Ability to increase ADR and occupancy with professional management     •    Long-term appreciation in a growing Tampa submarket
Property Details
Property Features Property Features
MLS ID: MFRTB8493099 Year Built: 1966
Appliances: Cooktop, Dishwasher, Microwave Construction Materials: Block, Stucco
Cooling: Mini-Split Unit(s) Country: US
County Or Parish: Hillsborough Direction Faces: West
Exterior Features: Private Entrance Flooring: Laminate
Foundation Details: Slab Furnished: Negotiable
Heating: Ductless Laundry Features: None
Levels: One Listing Agreement: Exclusive Right To Sell
Listing Terms: Cash, Conventional, Other Occupant Type: Tenant
Other Equipment: Private Entrance Property Sub Type: Half Duplex
Property Type: Residential Road Surface Type: Asphalt
Roof: Shingle Sewer: Public Sewer
Showing Requirements: 24 Hour Notice Special Listing Conditions: None
Standard Status: Active State Or Province: FL
Utilities: Cable Connected Water Source: None
Rooms Rooms
Primary Bedroom: Kitchen:
Living Room: Primary Bathroom:
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