4513 Mcelroy Ave Tampa, FL 33611

Listing details for 4513 Mcelroy Ave, Tampa, FL 33611 : 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