4513 W Mcelroy AvenueTampa, FL 33611Price: $850,000

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: o Asking Price: $850,000 o Projected Cap Rate: 8.7 o Net Operating Income (NOI): ~$73,950/year o Estimated Gross Income: ~$105,000+/year (STR optimized) o Low-maintenance concrete block construction o Individually rentable units = diversified income stream ?? Property Features: o Concrete block exterior + stucco finish o Gable/hip roof with asphalt shingles o Wood flooring & drywall interiors o 4 total units (multifamily layout) o On-site additional storage (shed) o 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: o Immediate STR income potential o Value-add through interior upgrades or branding o Ability to increase ADR and occupancy with professional management o Long-term appreciation in a growing Tampa submarket